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Life Insurance Financial Products

Author

Listed:
  • 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)

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.

Suggested Citation

  • Nadine Gatzert & Hato Schmeiser, 2025. "Life Insurance Financial Products," Springer Books,, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-69561-2_10
    DOI: 10.1007/978-3-031-69561-2_10
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    More about this item

    Keywords

    Life insurance financial products; Life insurance market; Unit-linked contract; Equity-indexed contract; Interest guarantee; Lookback guarantee; Investment strategies;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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