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Guarantee Structures in Life Annuities: A Comparative Analysis

Author

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  • Ermanno Pitacco

    (DEAMS, University of Trieste, piazzale Europa 1, Trieste 34127, Italy)

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.

Suggested Citation

  • Ermanno Pitacco, 2016. "Guarantee Structures in Life Annuities: A Comparative Analysis," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(1), pages 78-97, January.
    • Handle: RePEc:pal:gpprii:v:41:y:2016:i:1:p:78-97
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    Cited by:

    1. Annamaria Olivieri, 2021. "Designing Annuities with Flexibility Opportunities in an Uncertain Mortality Scenario," Risks, MDPI, vol. 9(11), pages 1-18, October.
    2. Milevsky, Moshe A. & Salisbury, Thomas S., 2022. "Refundable income annuities: Feasibility of money-back guarantees," Insurance: Mathematics and Economics, Elsevier, vol. 105(C), pages 175-193.
    3. Cupido, Kyran & Jevtić, Petar & Paez, Antonio, 2020. "Spatial patterns of mortality in the United States: A spatial filtering approach," Insurance: Mathematics and Economics, Elsevier, vol. 95(C), pages 28-38.
    4. Ermanno Pitacco, 2016. "Premiums for Long-Term Care Insurance Packages: Sensitivity with Respect to Biometric Assumptions," Risks, MDPI, vol. 4(1), pages 1-22, February.

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