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One Possible Life Insurance Market Response to Ageing

Author

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  • Gustavo Ferro

    (Universidad Argentina de la Empresa (UADE) and CONICET, Lima 717, 1073 Buenos Aires, Argentina.)

Abstract

This paper deals with the reaction of the life insurance industry to ageing and the next massive decumulation phase of pension funds worldwide. The industry has a well-established product, which is the annuity, a unique instrument to cope with longevity risk. But annuity markets remain thin. Demand- and supply-side elements of the market are explored and also regulatory issues. Some proposals are made for a more proactive involvement of the industry in the pension business by addressing demand side, supply side and regulatory concerns. The proposal is a Multi-tier Insurance Package, which combines different insurance products in order to cover longevity risk as well as bequest or long-term care motives. The Geneva Papers (2009) 34, 119–136. doi:10.1057/gpp.2008.46

Suggested Citation

  • Gustavo Ferro, 2009. "One Possible Life Insurance Market Response to Ageing," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 34(1), pages 119-136, January.
    • Handle: RePEc:pal:gpprii:v:34:y:2009:i:1:p:119-136
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    Cited by:

    1. Katja Hanewald & Thomas Post & Helmut Gründl, 2011. "Stochastic Mortality, Macroeconomic Risks and Life Insurer Solvency," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 36(3), pages 458-475, July.

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