Mortality data of disabled individuals are studied and parametric modeling approaches for the force of mortality are discussed. Empirical observations show that the duration since disablement has a strong effect on mortality rates. In order to incorporate duration effects, different...

We use a case study of a pension plan wishing to hedge the longevity risk in its pension liabilities at a future date. The plan has the choice of using either a customised hedge or an index hedge, with the degree of hedge effectiveness being closely related to the correlation between the value...

Parametric forecasts of future mortality improvements can be based on models with a small number of factors which summarise both the improvement in mortality and changes in the relationship between mortality and age. I extend the analysis of the two‐factor model of Cairns, Blake and Dowd...

A deferred annuity typically includes an option-like right for the policyholder. At the end of the deferment period, he may either choose to receive annuity payouts, calculated based on a mortality table agreed to at contract inception, or receive the accumulated capital as a lump sum....

Broken-heart syndrome is the most common form of short-term dependence, inducing a temporary increase in an individual´ force of mortality upon the occurrence of extreme events, such as the loss of a spouse. Socioeconomic influences on bereavement processes allow for suggestion of variability...

A spatial econometrics cross-section analysis of the NUTS2 regions of the EU15 is carried out to examine whether the age structure of the regional population or differences in the regional age pattern affect growth of regional per capita income. We apply two parsimonious models of the age...

If health care expenditure for the elderly grows faster than for younger people, the expenditure profiles become "steeper" - we call that "steeping". Three instruments for measuring "steeping" are presented: (1) trend of the relation between per-capita-expenditure of the old and the young; (2)...