providing insurance against lifetime uncertainty. The terms of these contracts depend on the information available to insurance … general analysis of survival functions, stochastic dominance, and characterization of changes in longevity, Eytan Sheshinski … derives the demand for annuities using a model of individuals who jointly choose their lifetime consumption and retirement age …

Longevity insurance benefits are deferred annuities that start payment at an advanced age at which a substantial … their early 80s, but when social security programs were starting in many countries, the age at which longevity insurance … a longevity insurance program, with roughly 50% of those entering the workforce surviving to receive the benefits …

longevity in which individuals choose an optimum consumption path and a retirement age. Conditions on the age-specific pattern … of improvements in survival probabilities are shown to ensure that individual savings rise with longevity and that … increased longevity leads to higher aggregate savings in steady state. The analysis is based on a lifecycle model with uncertain …

retirement age response to changes in longevity from which changes in individual savings are derived. Conditions on the age … empirical studies attribute this trend to the increases in life longevity of the populations of these countries. It has been … in the population rises along with longevity. This paper examines whether these conclusions are supported by economic …

expectancy, because it directly infuences the expected rate of return. We examine the market for private annuities in Germany and … for women invested in private annuity contracts …