Systematic Mortality Risk: An Analysis of Guaranteed Lifetime Withdrawal Benefits in Variable Annuities

2013 ◽  
Author(s):  
Man Chung Fung ◽  
Katja Ignatieva ◽  
Michael Sherris
Keyword(s):  
Mortality Risk ◽  
Variable Annuities ◽  
Guaranteed Lifetime Withdrawal Benefits

Variable annuities and aggregate mortality risk

2016 ◽  
Vol 237 ◽  
pp. R55-R61 ◽  
Author(s):  
Martin Weale ◽  
Justin van de Ven
Keyword(s):  
Relative Risk ◽  
Risk Aversion ◽  
Mortality Risk ◽  
Mortality Rates ◽  
Risk Averse ◽  
Actual Cost ◽  
Relative Risk Aversion ◽  
Variable Annuities ◽  
Actual Mortality ◽  
Specific Mortality

This paper explores the extent to which annuitants might be prepared to pay for protection against cohort-specific mortality risk, by comparing traditional indexed annuities with annuities whose payout rates are revised in response to differences between expected and actual mortality rates of the cohort in question. It finds that a man aged 65 with a coefficient of relative risk aversion of two would be prepared to pay 75p per £100 annuitised for protection against aggregate mortality risk while a man with risk aversion of twenty would be prepared to pay £5.75 per £100; studies put the actual cost at £2.70–£7 per £100, suggesting that unless annuitants are very risk averse it is likely that existing products tend to over-insure against cohort mortality risk.

The effect of retirement taxation rules on the value of guaranteed lifetime withdrawal benefits

2019 ◽  
Vol 14 (1) ◽  
pp. 83-92
Author(s):  
Eric R. Ulm
Keyword(s):  
United States ◽  
New Zealand ◽  
The United States ◽  
The Other ◽  
Variable Annuities ◽  
Other Hand ◽  
Tax Regimes ◽  
Investment Income ◽  
Guaranteed Lifetime Withdrawal Benefits

AbstractWe examine the value of guaranteed lifetime withdrawal benefit (GLWB) options embedded in variable annuities in two different tax regimes. The New Zealand (NZ) system taxes investment income when it is earned, whereas the system in the United States defers taxes on annuity investment income until it is paid out. We examine the effects of these tax differences on the charges collected by the issuer as well as on the value of the contract to the policyholder. We find that the issuer’s charges are typically lower (higher) in the NZ tax regime when the expected fund earnings are low (high) or the fund volatility is high (low). On the other hand, the value to the policyholder is always lower in the NZ tax regime due to the earlier tax payments.We also find that the value of the GLWB in the NZ tax regime is nearly always below the value of an ordinary payout annuity with the same tax rules.

486 Clinical composite endpoint classification of REVIVE II corresponds to all-cause mortality risk

2007 ◽  
Vol 6 (1) ◽  
pp. 106-107
Author(s):  
J TEERLINK ◽  
L DELGADOHERRERA ◽  
R THAKKAR ◽  
B HUANG ◽  
R PADLEY
Keyword(s):  
Mortality Risk ◽  
Composite Endpoint ◽  
All Cause Mortality

Discharge to Institution Tied to Mortality Risk

2010 ◽  
Vol 3 (1) ◽  
pp. 10
Author(s):  
DAMIAN McNAMARA
Keyword(s):  
Mortality Risk

Emergency Department Admission and Mortality Rate for Suicidal Behavior

Crisis ◽  
2014 ◽  
Vol 35 (6) ◽  
pp. 406-414 ◽  
Author(s):  
Raimondo Maria Pavarin ◽  
Angelo Fioritti ◽  
Francesca Fontana ◽  
Silvia Marani ◽  
Alessandra Paparelli ◽  
...  
Keyword(s):  
Emergency Department ◽  
Metropolitan Area ◽  
Suicidal Behavior ◽  
Mortality Risk ◽  
Illicit Drugs ◽  
Attempted Suicide ◽  
Cox Model ◽  
Emergency Department Admission ◽  
Completed Suicide

Background: The international literature reports that for every completed suicide there are between 8 and 22 visits to an Emergency Department (ED) for attempted suicide/suicidal behavior. Aims: To describe the characteristics of admission to emergency departments (EDs) for suicide-related presenting complaints in the metropolitan area of Bologna; to estimate the risk for all-cause mortality and for suicide; to identify the profiles of subjects most at risk. Method: Follow-up of patients admitted to the EDs of the metropolitan area of Bologna between January 2004 and December 2010 for attempted suicide. A Cox model was used to evaluate the association between sociodemographic variables and the general mortality risk. Results: We identified 505 cases of attempted suicide, which were more frequent for female subjects, over the weekend, and at night (8:00 p.m./8:00 a.m.). The most used suicide methods were psychotropic drugs, sharp or blunt objects, and jumping from high places. In this cohort, 3.6% of subjects completed suicide (4.5% of males vs. 2.9% of females), 2.3% within 1 year of the start of follow-up. The most common causes of death were drug use and hanging. In the multivariate analysis, those who used illicit drugs 24 hr prior to admission to the ED (hazard ratio [HR] = 3.46, 95% CI = 1.23–9.73) and patients who refused the treatment (HR = 6.74, 95% CI = 1.86–24.40) showed an increased mortality risk for suicide. Conclusion: Deliberate self-harm patients presenting to the ED who refuse treatment represent a specific target group for setting up dedicated prevention schemes.

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