This paper analyzes an individual’s post retirement longevity risk management strategy allowing for systematic longevity risk, recent product innovations, and product loadings. A complete-markets discrete state model and multi-period simulations of portfolio strategies are used to assess...

Since 1992, the unmanaged liability represented by trust-owned life insurance ("TOLI") has been the subject of many cautionary articles. Despite the warnings of fiduciary law and insurance experts, professional fiduciaries generally have not implemented meaningful TOLI procedures or policy...