Determinants of the Stated Probability of Purchase for Longevity Insurance

2014 ◽  
Author(s):  
Michael A Guillemette ◽  
Terrance Kieron Martin ◽  
Benjamin F. Cummings ◽  
Russell N. James
Keyword(s):  
Longevity Insurance

A tFragedy of Annuitization? Longevity Insurance in General Equilibrium

2011 ◽  
Author(s):  
Ben J. Heijdra ◽  
Jochen O. Mierau ◽  
Laurie S.M. Reijnders
Keyword(s):  
General Equilibrium ◽  
Longevity Insurance

scholarly journals Managing Longevity Risk in Low and Moderate Income Countries: Longevity Insurance Benefits as a Policy Solution

2018 ◽  
Vol 6 (4) ◽  
pp. 154-161
Author(s):  
John A. Turner ◽  
Gerard Hughes ◽  
Agnieszka Chłoń-Domińcak ◽  
David M. Rajnes
Keyword(s):  
Longevity Risk ◽  
Insurance Benefits ◽  
Longevity Insurance

Provision of Longevity Insurance Annuities

2020 ◽  
Vol 76 (4) ◽  
pp. 119-133
Author(s):  
Dale Kintzel ◽  
John A. Turner
Keyword(s):  
Longevity Insurance

LONGEVITY INSURANCE: A MISSING MARKET

2005 ◽  
Vol 50 (spec01) ◽  
pp. 417-435 ◽  
Author(s):  
ADAM CREIGHTON ◽  
HENRY HONGBO JIN ◽  
JOHN PIGGOTT ◽  
EMILIANO A. VALDEZ
Keyword(s):  
Public Policy ◽  
Demographic Transition ◽  
Risk Sharing ◽  
Theory And Practice ◽  
Insurance Market ◽  
Insurance Markets ◽  
Longevity Risk ◽  
Reverse Mortgages ◽  
Longevity Insurance ◽  
India And China

More than half of the world's old live in Asia, and around 35% in India and China alone. As demographic transition proceeds regionally and globally, the development of a robust and reliable longevity insurance market will become essential. Although the need for such insurance is most pressing in Asia, longevity risk is poorly managed practically everywhere. This paper reviews theory and practice relating to longevity risk and insurance, amid a rapidly changing demographic and policy landscape. It analyzes the reasons for the failure of longevity insurance markets, and examines possible innovations in both markets and public policy that may lead to a more vibrant market and a greater variety of longevity insurance products. These include risk sharing between the buyer and seller, "deductibles", reverse mortgages, and securitization.

scholarly journals Survival Pessimism and the Demand for Annuities

2021 ◽  
pp. 1-53
Author(s):  
Cormac O’Dea ◽  
David Sturrock
Keyword(s):  
Mortality Risk ◽  
Purchasing Decisions ◽  
Subjective Expectations ◽  
Survival Probabilities ◽  
Annuity Puzzle ◽  
Longevity Insurance ◽  
Objectively Measured

Abstract The “annuity puzzle” refers to the fact that annuities are rarely purchased despite the longevity insurance they provide. Most explanations for this puzzle assume that individuals have accurate expectations about their future survival. We provide evidence that individuals misperceive their mortality risk, and study the demand for annuities in a setting where annuities are priced by insurers on the basis of objectively-measured survival probabilities but in which individuals make purchasing decisions based on their own subjective survival probabilities. Subjective expectations have the capacity to explain significant rates of non-annuitization, yielding a quantitatively important explanation for the annuity puzzle.

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