Guarantee Structures in Life Annuities: A Comparative Analysis

Ermanno Pitacco
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Ermanno Pitacco: DEAMS, University of Trieste, piazzale Europa 1, Trieste 34127, Italy

The Geneva Papers on Risk and Insurance - Issues and Practice, 2016, vol. 41, issue 1, 78-97

Abstract: Life annuities constitute a large category of insurance and pension products, ranging from conventional annuities (immediate or deferred) to longevity-linked life annuities, sharing the aim of providing living benefits. The analysis of the guarantee structure aims at singling out the risks taken by the annuity provider, in particular the longevity risk, and the possibility of sharing these risks between annuitant and annuity provider.

Date: 2016
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