Standard life annuities are attractive mainly for healthy people. Premium rates are consequently kept high. Hence, a large portion of potential annuitants are out of reach of insurers. In order to expand their business, some insurers have started offering better annuity rates to people whose...

The aim of these Lecture Notes is to complement the material, concerning Life Insurance, presented in the textbook by A. Olivieri and E. Pitacco, “Introduction to Insurance Mathematics. Technical and Financial Features of Risk Tansfers”, by providing the basics of a time-continuous setting...

Various types of insurance products require, as an item of the technical basis for pricing and reserving, appropriate assumptions about the mortality of disabled people. In this paper, we mostly focus on products providing Income Protection, which can be placed in the framework of “Disability...

Uncertainty in mortality and disability trends, from which the longevity risk in living benefits arises, is discussed. The financial impact of longevity risk on life annuities, sickness benefits for the elderly and long-term care covers is then analysed, focussing in particular solvency...