IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-59769-3_3.html
   My bibliography  Save this book chapter

Life insurance with life annuity

In: Modeling Pension Systems

Author

Listed:
  • András Simonovits

    (Hungarian Academy of Scientists)

Abstract

We saw in Chapter 1 that a basic feature of human life is that the consumption path is much smoother than the earning path; people consume even when they do not earn. Another, equally important, characteristic is the so-called longevity risk: that is, the date of the death of any person is known in advance neither to him nor to others. Indeed, there are people who die just before retiring, and there are others who live for a hundred years. In the former case, lifetime consumption may be much lower than lifetime earnings; in the latter case, lifetime consumption may be much higher than lifetime earnings. Furthermore, this uncertainty makes self- or family financing much more difficult than it would be in a deterministic world (Fischer, 1973 and Walliser, 2000, 2001). Here we shall examine the ideal system of life insurance with life annuity and then turn to reallife complications.

Suggested Citation

  • András Simonovits, 2003. "Life insurance with life annuity," Palgrave Macmillan Books, in: Modeling Pension Systems, chapter 0, pages 14-20, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59769-3_3
    DOI: 10.1057/9780230597693_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-59769-3_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.