Life Insurance Financial Products

Nadine Gatzert () and Hato Schmeiser ()
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Nadine Gatzert: Chair for Insurance Economics and Risk Management, Friedrich-Alexander-Universität Erlangen-Nürnberg
Hato Schmeiser: Chair for Risk Management and Insurance, University of St. Gallen

A chapter in Handbook of Insurance, 2025, pp 289-309 from Springer

Abstract: Abstract This chapter provides an overview of life insurance financial products. After an outline of the global life insurance market, Sect. 2 presents different forms of selected traditional and innovative life insurance financial products and their main characteristics. As unit-linked and equity-indexed contracts have been the basis for most innovative products in recent years, we present basic aspects of the modeling, valuation, and risk management of unit-linked life insurance contracts using two forms of investment guarantees (interest guarantees and lookback guarantees) and different underlying investment strategies for illustrative purposes. We also outline the advantages and disadvantages of life insurance products and focus on key features of new innovative life insurance financial products. Section 3 concludes.

Keywords: Life insurance financial products; Life insurance market; Unit-linked contract; Equity-indexed contract; Interest guarantee; Lookback guarantee; Investment strategies (search for similar items in EconPapers)
JEL-codes: D80 G22 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69561-2_10

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DOI: 10.1007/978-3-031-69561-2_10

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