Purchasing life insurance is for the welfare of young children, particularly preteens, who are liquidity constrained. In this paper, we present a life cycle model of life insurance that takes into account the ages of these young beneciaries. We show that, as the child ages, the need for...

This book offers a one-stop resource for performing quantitative risk analyses. The authors provide practical case studies along with detailed instruction and illustration of the features of ModelRisk, the most advanced risk modeling spreadsheet software currently available.