Relevant bibliographies by topics / Annuitet

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  1. Journal articles
  2. Dissertations / Theses
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  4. Book chapters
  5. Conference papers
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Academic literature on the topic 'Annuitet'

Author: Grafiati
Published: 4 June 2021
Last updated: 8 February 2022

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Journal articles on the topic "Annuitet"

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Herlambang, Yudha. "PEMROGRAMAN KOMPUTER DALAM BAHASA QUICK BASIC DALAM PERHITUNGAN FUTURE VALUE DAN PRESENT VALUE PADA BUN GA MAJEMUK SERTA KASUS-KASUS ANNUITET." EKUITAS (Jurnal Ekonomi dan Keuangan) 8, no. 2 (January 13, 2017): 315. http://dx.doi.org/10.24034/j25485024.y2004.v8.i2.2369.

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In this article, the author will design the algorithm about computer programming in Quick Basic Language to create the simulation. The purpose of this simulation is making easy and more practical to calculate and solve the problem about Future Value, Present Value and time in Annuitet and Compound Interest . This simulation also has been designed to make solution table which contents the calculation above. The user can execute this computer simulation to solve the problem mentioned above more quickly and more efficiently than manual method. The calculation about Future Value and Present Value is very useful to determine interest allocation per year, and make decision about cashflow per year to pay the loan during several years. The calculation about Future Value, Present Value, Annuity, Compound Interest is very important in financial management and banking applications.
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Chen, Anran, Steven Haberman, and Stephen Thomas. "Cumulative prospect theory and deferred annuities." Review of Behavioral Finance 11, no. 3 (August 12, 2019): 277–93. http://dx.doi.org/10.1108/rbf-10-2017-0102.

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Purpose Although it has been proved theoretically that annuities can provide optimal consumption during one’s retirement period, retirees’ reluctance to purchase annuities is a long-standing puzzle. The purpose of this paper is to use behavioral model to analyze the low demand for immediate annuities. Design/methodology/approach The authors employ cumulative prospect theory (CPT), which contains both loss aversion and probability transformations, to analyze the annuity puzzle. Findings The authors show that CPT can explain the unattractiveness of immediate annuities. It also shows that retirees would be willing to buy a long-term deferred annuity at retirement. By considering each component from CPT in turn, the loss aversion is found to be the major reason that stops people from buying an annuity while the survival rate transformation is an important factor affecting the decision of when to receive annuity incomes. Originality/value This paper identifies CPT as one of the reasons for the low demand of immediate annuities. It further suggests that long-term deferred annuities could overcome behavioral obstacles and become popular among retirees.
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SHESHINSKI, EYTAN. "Refundable Annuities (Annuity Options)." Journal of Public Economic Theory 12, no. 1 (February 2010): 7–21. http://dx.doi.org/10.1111/j.1467-9779.2009.01444.x.

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Chen, An, Manuel Rach, and Thorsten Sehner. "ON THE OPTIMAL COMBINATION OF ANNUITIES AND TONTINES." ASTIN Bulletin 50, no. 1 (January 2020): 95–129. http://dx.doi.org/10.1017/asb.2019.37.

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AbstractTontines, retirement products constructed in such a way that the longevity risk is shared in a pool of policyholders, have recently gained vast attention from researchers and practitioners. Typically, these products are cheaper than annuities, but do not provide stable payments to policyholders. This raises the question whether, from the policyholders' viewpoint, the advantages of annuities and tontines can be combined to form a retirement plan which is cheaper than an annuity, but provides a less volatile retirement income than a tontine. In this article, we analyze and compare three approaches of combining annuities and tontines in an expected utility framework: the previously introduced “tonuity”, a product very similar to the tonuity which we call “antine” and a portfolio consisting of an annuity and a tontine. We show that the payoffs of a tonuity and an antine can be replicated by a portfolio consisting of an annuity and a tontine. Consequently, policyholders achieve higher expected utility levels when choosing the portfolio over the novel retirement products tonuity and antine. Further, we derive conditions on the premium loadings of annuities and tontines indicating when the optimal portfolio is investing a positive amount in both annuity and tontine, and when the optimal portfolio turns out to be a pure annuity or a pure tontine.
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VIDAL-MELIÁ, CARLOS, and ANA LEJÁRRAGA-GARCÍA. "Demand for life annuities from married couples with a bequest motive." Journal of Pension Economics and Finance 5, no. 2 (May 11, 2006): 197–229. http://dx.doi.org/10.1017/s1474747205002349.

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The aim of this paper is to explain the ‘annuities puzzle’ in greater depth by introducing the bequest motive. It will try to determine whether this motive really is a relevant feature influencing the demand for life annuities from married couples. With this aim in mind, we develop an optimization model of the utility provided by purchasing a life annuity with contingent survivor benefit or a joint survivor life annuity. Our model is based on that first put forward by Brown and Poterba (2000), to which we have added elements from other models, such as Friedman and Warshawsky's (1990) and Vidal and Lejárraga's (2004), which include the bequest motive. This will enable us to calculate the annuity equivalent wealth and the optimal percentage of wealth to annuitize in various contexts: the possibility of access to actuarially fair annuity markets, the inclusion of so-called market imperfections, and the assumption that couples already have part of their wealth in pre-existing life annuities. Numerical results are presented for the case of Spain. The bequest motive is found not to be a significant factor influencing the demand for annuities from couples. Indeed very few couples would be willing to purchase them once we take into account the combined effects of market imperfections, the possibility of pre-existing annuities and the bequest motive. These findings have repercussions for policy makers regulating defined contribution capitalization systems, which are complementary to defined benefit systems.
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Ji, Min, and Rui Zhou. "Demographic risk in deep-deferred annuity valuation." Annals of Actuarial Science 11, no. 2 (April 3, 2017): 286–314. http://dx.doi.org/10.1017/s174849951700001x.

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AbstractA deep-deferred annuity is a deferred annuity where payments start very late in life, i.e. well after the normal retirement age. This annuity has received much attention lately as it was made accessible to 401(k) plans in the United States in 2014. By transferring the risk of outliving retirement savings at high ages to annuity providers, deep-deferred annuities provide annuitants with enhanced later-life financial security. However, the valuation of this annuity suffers from high uncertainty because the mortality data at high ages are sparse and possibly unreliable. In this paper, we use risk ratio to measure demographic risk in the valuation. Demographic risk is decomposed into the following four components: (1) mortality tail curve risk, (2) mortality improvement model risk, (3) parameter risk in mortality tail curves, and (4) parameter risk in mortality improvement rate models. Our quantitative analysis aims to provide insights into the development and risk management of deep-deferred annuities.
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ROCHA, ROBERTO, MARCO MORALES, and CRAIG THORBURN. "An empirical analysis of the annuity rate in Chile." Journal of Pension Economics and Finance 7, no. 1 (November 16, 2007): 95–119. http://dx.doi.org/10.1017/s1474747207003113.

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SUMMARYEmpirical analyses of annuities markets have been limited to a few developed countries and restricted by data limitations. Chile provides excellent conditions for research on annuities due to the depth of its market and the availability of data. The paper utilizes a panel of life insurance company data to examine econometrically the main determinants of the annuity rate, defined as the internal rate of return on annuities. The results indicate that the annuity rate is determined by the risk-free interest rate, the share of privately issued higher yield securities in the portfolio of providers, as a proxy for the spread over the risk-free rate, the leverage of providers, the level of broker's commissions, the market share of individual providers, the level of the premium, and the degree of market competition. The results also show that efforts to improve market transparency produced structural shifts in the parameters of the annuity rate equation. The results are consistent with separate research on money's worth ratios, and indicate the need to develop appropriate financial instruments, allowing providers to hedge their risks while extracting higher returns, and also to ensure competition and transparency in annuities markets, in order to ensure good outcomes for annuitants.
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Gan, Guojun, and Emiliano A. Valdez. "Valuation of large variable annuity portfolios: Monte Carlo simulation and synthetic datasets." Dependence Modeling 5, no. 1 (December 20, 2017): 354–74. http://dx.doi.org/10.1515/demo-2017-0021.

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AbstractMetamodeling techniques have recently been proposed to address the computational issues related to the valuation of large portfolios of variable annuity contracts. However, it is extremely diffcult, if not impossible, for researchers to obtain real datasets frominsurance companies in order to test their metamodeling techniques on such real datasets and publish the results in academic journals. To facilitate the development and dissemination of research related to the effcient valuation of large variable annuity portfolios, this paper creates a large synthetic portfolio of variable annuity contracts based on the properties of real portfolios of variable annuities and implements a simple Monte Carlo simulation engine for valuing the synthetic portfolio. In addition, this paper presents fair market values and Greeks for the synthetic portfolio of variable annuity contracts that are important quantities for managing the financial risks associated with variable annuities. The resulting datasets can be used by researchers to test and compare the performance of various metamodeling techniques.
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Mjøs, Aksel, and Svein-Arne Persson. "Level-Dependent Annuities: Defaults of Multiple Degrees." Journal of Financial and Quantitative Analysis 45, no. 5 (August 12, 2010): 1311–39. http://dx.doi.org/10.1017/s0022109010000475.

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AbstractMotivated by the effect on valuation of stopped or reduced debt coupon payments from a company in financial distress, we value a level-dependent annuity contract where the annuity rate depends on the value of an underlying asset process. The range of possible values of this asset is divided into a finite number of regions, with constant annuity rates within each region. We present closed-form formulas for the market value of level-dependent annuities contracts when the market value of the underlying asset is assumed to follow a geometric Brownian motion. Such annuities occur naturally in models of debt with credit risk in financial economics. Our results are applied for valuing both corporate debt with suspended interest payments under the U.S. Chapter 11 provisions and loans with contractual level-dependent interest rates.
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De Villiers-Strydom, Jeanie, and Niel Krige. "Comparing South African annuity options at retirement." Journal of Economic and Financial Sciences 7, no. 2 (July 31, 2014): 433–50. http://dx.doi.org/10.4102/jef.v7i2.149.

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In this study various annuity strategies are compared for South African males who retired during the 30 years from 1960 to 1989. To this end, the present values of the monthly cash flows provided by 47 different annuity strategies are calculated and compared in order to ascertain which strategy would have provided the largest financial benefits. In contrast to previously held general beliefs, the calculations demonstrate that living annuity strategies are superior to composite annuity strategies, which in turn outperform switching annuity strategies, whereas life annuities yield the lowest return.
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Dissertations / Theses on the topic "Annuitet"

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Ekblom, Anna, and Anna Ernér. "Passivhus - lönsamt eller ej? : En jämförelse mellan ett passivhus och ett konventionellt hus." Thesis, Halmstad University, School of Business and Engineering (SET), 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-5637.

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As a result of increased energy prices more and more energy-efficient homes are coveted. An energy-efficient alternative is passive houses, which is characterized by an extremely well insulated building envelope that recovers the heat without the use of radiators or under floor heating. But a passive house requires a higher investment cost than a conventional building project, since it will require more construction materials, training of construction workers, greater land area, and long construction period. But the lower operating cost expects to pay back the higher cost of investment. We therefore question how profitable a passive house is in relation to houses built according to modern conventional building techniques.

The aim of our study is to investigate the viability of passive houses compared to convent­ional houses. By using economic tools we intend to pursue this question of profitability to see where, when and how costs and revenues emerge.

Our report resulted in a case study where we looked closer at the passive house project Oxtorget and the conventional project Apollofjärilen, which both are owned by Finnveds­bostäder in Värnamo. Through interviews with Per-Magnus Rylander, project manager for Oxtorget, and Jan-Olof Fag, operation manager for Oxtorget, we got access to sufficient infor­mation about the two projects to compare the various profitability calculations, to finally discover which of the two projects that was most profitable.

With the help of our collected empirical data and economic tools, we concluded that Oxtorget became an unnecessarily expensive passive house project. This is because Oxtorget was built in such an early stage that information and experience from passive technology was missing, which involved a cost to the construction team to learn new technologies. Besides, there were only two offers, which meant less competition and therefore a high price. But it is primarily Oxtorgets planning cost that has affected our profitability calculations adversely. Since the building was appealed it required two planning’s which made Oxtorgets investment cost more difficult to recoup. But thanks to government contributions and low rates, we could still come to the conclusion that Oxtorget was a profitable venture, but nowhere near as profitable as we initially expected. Finally, we found out that we believe that if a similar comparative study carried out in which the passive house project follows a normal building process we will see a significant change of the result. We have also realized that the rate plays a significant role on projects profitability. For this reason, we have finally found that minimized investment costs are the most important thing to ensure that a passive house is more profitable than a convent­ional house.

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Sachelarie, Vlad. "Improvements on the equity indexed annuity market." The Ohio State University, 2002. http://rave.ohiolink.edu/etdc/view?acc_num=osu1037997764.

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Anongdeth, Alexander, and Oskar Mikaelsson. "Lagerplats och logistiklösningar." Thesis, KTH, Hållbar produktionsutveckling (ML), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-298259.

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Examensarbetet utfördes under våren 2021 på ett svenskt företag i Centrala Sverige. Uppdraget har som syfte haft att få en objektiv inblick i företagets lagersituation för försäljningen i EMEA. Uppdragets mål var att undersöka vart kostnadsbesparingar kunde göras, hur koldioxidutsläpp kunde reduceras för transporter av SMT produkter och hur servicenivån till kunderna kunde öka med att korta ned interna och externa ledtider. För att möjliggöra dessa kriterier undersöktes den befintliga lagersituationen mot en omställning för att komma närmare kunderna i EMEA. Med syfte att minska på transportdistanserna från lager till kund och från produktion till lager. För att möjliggöra arbete har information givits av företaget där ansvariga personer för respektive avdelning och en förstudie om vart ett lager bör placeras. Förstudien har jämförts mot den interna datainsamlingen. Interndatasamlingen har bestått av intervjuer och analyser utav tidigare arbeten i form av säljvolym och kundlokalisation granskats för att få en inblick i hur materialet flödar vid försäljning i EMEA. Logistiken för nuläget har gett en djupare förståelse i hur problemet uppstått och varför förbättringar önskats. När slut produktionen ligger närmare slutkunden än vad det befintliga central lagret gör i dagensläge antas att förbättringar kan göras. Med en granskning av företagets transportkostnader, lagerkostnader och distansen till samtliga kunder har resultatet visat på att vinningar kan göras på samtliga punkter.
This thesis project was carried out in the spring of 2021 at a Swedish owned company located in central Sweden. The purpose of the assignment was to gain an objective insight into the company’s stock situation for sales in EMEA. Then to investigate where cost savings could be made, how carbon dioxide emissions could be reduced for transport of SMT, and finally how the level of service to customers could increase by shorting internal and external lead times. To enable these criteria, the existing stock situation was examined towards a changeover to get closer to the customers in EMEA. Thus aiming to reduce the transport distance from warehouse to customer and from production to warehouse. To enable this project, information has been provided by the people responsible for each department and a feasibility study was carried out on where the warehouse should be located. The feasibility study has been compared with the internal data collection. This collection has consisted of interviews and analyzes of previous work in the form of sales volume. Customer locations has also been examined to get an insight into how the material flows during sales in EMEA. The logistics for the current situation provide a deeper understanding of how the problem arose and why improvements were needed. When the finishing production is closer to the customers of the company than what the existing warehouse does in the current situation, it is assumed that improvements can be made. With a careful examination of the company’s transport costs, warehouse costs and the distance to all customers in EMEA, the results have shown that gains can be made on all points.
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Näslund, Olov. "VA-system i omvandlingsområden - vad kostar de?" Thesis, Uppsala universitet, Institutionen för geovetenskaper, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-308366.

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När fler människor flyttar ut till sina fritidshus och bor där hela året om bildas så kallade omvandlingsområden där användningen av vatten och avlopp förändras. Detta leder ofta till högre vattenanvändning och kraven på avloppssystemen ökar därmed. Det finns tre huvudtyper av lösningar som vanligtvis används för att möta kravet på bättre avloppssystem i omvandlingsområden: enskilda lösningar på varje fastighet, en samfälld lösning eller en lösning i kommunal regi. Syftet med studien var att utvärdera kostnader för VA-system i omvandlingsområden i Sverige. Fem olika områden studerades med avseende på beräknade kostnader jämfört med det verkliga utfallet. Beräkningar gjordes på totala investeringskostnader, kostnad per fastighet såväl som kapitalkostnad och drift- och underhållskostnad. Jämförelser gjordes också med andra lösningar som var aktuella innan området byggde ut den valda VA-lösningen. Arbetet berörde även metodiken för hur kommuner väljer VA-system i omvandlingsområden. Det var billigare för en samfällighetsförening, 1 000 kr/m, att gräva ledningar än för en kommun, 4 400 - 5 900 kr/m. Grundare ledningsgravar var en av orsakerna till detta. En annan slutsats var att befintlig infrastruktur från tidigare VA-system kan göra samma typ av VA-system billigare om delar av det befintliga fortfarande är i gott skick. Driftkostnaden för enskilda system beror mycket på hur många personer som nyttjar systemet och under hur stor del av året. Vid samtal med kommuner framkom det att valet av VA-system i omvandlingsområden i regel inte föregås av en jämförelse mellan olika VA-system. Istället är det oftast en överföringsledning till ett befintligt kommunalt nät som väljs.
More and more people choose to live permanently in houses built as vacation houses, thereby creating transition areas. The increased occupancy in the houses tends to lead to larger water usage and often demands improved wastewater systems. There are three main ways in which this demand usually is met: each property builds an on-site system, the properties jointly build a facility through a community association, or the properties connect to the municipality’s network. The aim was to evaluate the costs of water and wastewater systems in transition areas in Sweden. This was done by studying five different improved transition areas and comparing the estimated costs with the actual cost of the systems. Both total investment costs and cost per property were calculated, as well as capital costs, and operation and maintenance costs. How the municipalities choose the sanitation system to be implemented was also a part of the study.  It was much more expensive for the municipality to build pipes than for a community association. One reason for this was shallower pipe placement. Another conclusion was that if part of a sanitation system already exists and is in good shape, this will lead to lower investment costs for a new system using that part. The operation costs for on-site systems on each property will be much higher for a family living there permanently, compared to that of a family living there only part time. Municipalities in Sweden generally do not compare different types of systems before deciding on an improved water and sanitation system in a transition area. Instead they almost always build a transmission line for water and wastewater to connect the area to an already existing centralized system.
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Helmersson, Madeleine. "Annuity Divisors." Thesis, Umeå universitet, Institutionen för matematik och matematisk statistik, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-138767.

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This paper studies the differences and similarities between the discrete annuity divisor of the income pension compared to the continuous annuity divisor of the premium pension in Sweden. First discrete and continuous annuity divisors are compared and found to be equivalent given the same underlying mortality. The income divisor is based on observed mortality in a period setting while the premium divisor which is based on projected mortality in a cohort setting. The expected performance of the two methods is studied by constructing prediction intervals based on Lee-Carter models with either a Binomial or Poisson distribution. Prediction intervals are constructed using either residual bootstrap or parametric bootstrap. The premium annuity divisor is found to outperform the income annuity divisor, there is a large risk that the latter underestimates the future mortality.
Den här uppsatsen studerar skillnader och likheter mellan inkomstpensionens diskreta delningstal och premiepensionens kontinuerliga delningstal i Sverige. Först jämförs diskreta och kontinuerliga delningstal och finns vara likvärdiga när de baseras på samma dödlighet. Inkomstpensionens delningstal är baserad på observerad period-dödlighet medan premiepensionens delningstal är baserad på projekterad kohort-dödlighet. Prediktionsintervall används för att skatta hur bra de två metoderna är. Med hjälp av Lee-Carter-modellen baserad på antingen poissonfördelning eller binomialfördelning konstrueras prediktionsintervall. Bootstrap, antingen parametrisk eller baserad på residualerna, används för att skapa prediktionsintervallen. Premiumpensionens delningstal stämmer väl överens med prediktionsintervallen medan det för inkomstpensionens delningstal finns en stor risk att framtida dödlighet underskattas.
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Cao, Guanghua. "Pricing and risk management of variable annuities and equity-indexed annuities." Ann Arbor, Mich. : ProQuest, 2007. http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&res_dat=xri:pqdiss&rft_dat=xri:pqdiss:3288943.

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Thesis (Ph.D. in Applied Mathematics)--S.M.U., 2007.
Title from PDF title page (viewed Nov. 19, 2009). Source: Dissertation Abstracts International, Volume: 68-11, Section: B, page: 7372. Advisers: Zhangxin (John) Chen; Andrew H. Chen. Includes bibliographical references.
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Robb, Devon K. "Attitudes Towards Immediate Annuities." DigitalCommons@USU, 2010. https://digitalcommons.usu.edu/etd/786.

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Retirement security for Americans is one of the most critical public policy and personal financial issues and will be for decades in the future. Individuals that retire today can live an additional 30 or even 40 years with less secure income as corporations shift to defined contribution plans to fund retirement. Based on the life cycle savings hypothesis, immediate annuities should be appealing to retirees because they insure against the risks of outliving retirement assets by converting funds into a lifelong stream of income. However, research has found that retirees are reluctant to annuitize their wealth. This study examined the attitudes of Utah State University employees toward annuitization of retirement assets and explored the relationship between employee characteristics and their attitudes toward immediate annuities. Data for this study were collected through an online questionnaire emailed to Utah State University employees who participate in a defined contribution plan. The survey gathered information on retirement portfolio losses, expected longevity, financial confidence, familiarity with annuities, and attitudes toward immediate annuities. A total of 744 individuals answered the survey for a response rate of 43.2%. Based on the results of independent t tests, there were statistically significant differences between the attitudes of women and men toward immediate annuities. Women held more positive attitudes toward immediate annuities than men, and women who had taken a retirement planning class had more positive attitudes than women who had not attended a retirement class. In contrast, men who had attended a retirement class expressed less positive attitudes toward immediate annuities than men who had not. Male overconfidence in their investment knowledge and skills may explain this finding. A Pearson correlation coefficient revealed a negative correlation between risk aversion and attitudes toward annuities. As investment risk tolerance decreases, attitudes toward immediate annuities become more positive. An analysis of variance found that individuals with longer than average life expectancies had more positive attitudes toward immediate annuities than subjects with shorter than average life expectancies. Surprisingly, individuals who claimed to be most familiar with immediate annuities showed the least positive attitudes toward annuities. Income and assets, marital status, and financial confidence were not statistically significantly related to attitudes toward annuities. Implications for consumers, financial professionals, educators, and policymakers were drawn from the results of the study.
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Gregório, Joana Catalina Mendes Moreira Saúde. "Life annuities and ruin." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/9273.

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Mestrado em Ciências Actuariais
Este trabalho pretende combinar dois grandes tópicos num contexto atuarial: rendas contingentes sobre a vida humana e teoria da ruína, de forma a determinar a probabilidade de ruína financeira para carteiras de anuidades-vida. Duas principais perspetivas podem ser consideradas nesta situação: a dos indivíduos e a das seguradoras de vida, com aplicação de diferentes modelos. Limitações de tempo disponível e extensão do texto conduziram a que apenas a perspetiva das empresas fosse objeto de estudo, aplicando-se o modelo de risco individual clássico. Após uma extensiva revisão literária, os conceitos fundamentais sobre anuidades-vida e teoria da ruína são explicados e um caso de estudo é tratado. Primeiramente, os conceitos teóricos são desenvolvidos, de tal forma que um resultado, não encontrado na literatura, é obtido; segue-se a aplicação dos conceitos a uma carteira de riscos real. O problema a ser resolvido consiste em determinar se as reservas são suficientes para manter a probabilidade de ruína sob controlo, quando considerando tal carteira de anuidades-vida, dividida em grupos homogéneos. Dois procedimentos são seguidos: calcular as probabilidades de ruína, a partir de uma reserva inicial; e encontrar a melhor alocação das reservas iniciais pelos grupos de forma a maximizar as probabilidades de sobrevivência. Frostig e Denuit (2009) é a principal referência bibliográfica. Alguns resultados significativos são observados.
This work intends to combine two major topics under the actuarial framework: life annuities and ruin theory, as to determine the probability of financial ruin for life annuities' portfolios. Two main perspectives may be considered: the household's and the life insurance company's, for which different models apply. Time constraints and limitations on text length became the reason why only the company's perspective has been explored, using a classic individual risk model. After an extensive literature review the basics on life annuities and ruin theory are explained and a case study is toiled. Firstly, the theoretical framework is developed, with a useful result, not found in the literature, being obtained; and finally, the application follows. The problem to be solved consists broadly in studying whether reserves are high enough to keep the ruin probability under control, when considering a given insurer's portfolio of life annuities, divided into homogeneous groups. This is done in two different ways: computing the ruin probabilities, given the initial reserve; and finding the initial reserves' allocation amongst the groups that maximizes the survival probabilities. Frostig and Denuit (2009) is the main reference. Some significant results are observed.
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Shepard, Mark. "Essays on Health Insurance and Annuities." Thesis, Harvard University, 2015. http://nrs.harvard.edu/urn-3:HUL.InstRepos:17467319.

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Insurance creates an important source of economic well-being by providing for beneficiaries in times of need. But because a variety of forces may inhibit the proper functioning of insurance markets, governments are deeply involved through regulation, subsidies, and direct provision of insurance. This dissertation studies insurance demand, supply, and the role of policy in two types of markets of direct interest to policymakers: health insurance and annuities. I highlight the importance of both traditional market failures (adverse selection and moral hazard) and less standard factors like limited competition (market power) and puzzlingly low insurance demand to influence insurance market outcomes. In the first chapter, I study how health insurers compete in individual insurance markets like those established in the Affordable Care Act. I focus on the role of an increasingly important benefit: plans’ networks of covered medical providers. Using data from Massachusetts’ pioneer insurance exchange, I show evidence of substantial adverse selection against plans covering the most expensive and prestigious academic hospitals. Individuals loyal to the prestigious hospitals both select plans covering them and are more likely to use these hospitals’ high-price care. Standard risk adjustment does not capture their higher costs driven by preferences for using high-price providers. To study the welfare implications of network-based selection, I estimate a structural model of hospital and insurance markets and use the model to simulate insurer competition on premiums and hospital coverage in an insurance exchange. I find that with fixed hospital prices, adverse selection leads all plans to exclude the prestigious hospitals. Modified risk adjustment or subsidies can preserve coverage, benefitting those who value the hospitals most but raising costs enough to offset these gains. I conclude that adverse selection encourages plans to limit networks and star academic hospitals to lower prices, with the welfare implications depending on whether those high prices fund socially valuable services. Chapter 2 also studies health insurance exchanges and the competitive effect of a policy design choice: how the level of subsidies is determined. In the Affordable Care Act exchanges and other programs, subsidies depend on prices set by insurers – as prices rise, so do subsidies. I show that these “price-linked” subsidies incentivize higher prices, with a magnitude that depends on how much insurance demand rises when the price of uninsurance (the mandate penalty) increases. To estimate this effect, I use two natural experiments in the Massachusetts subsidized insurance exchange. In both cases, I find that a $1 increase in the relative monthly mandate penalty increases plan demand by about 1%. Using this estimate, my model implies a sizable distortion of $48 per month (about 12%). This distortion has implications for the tradeoffs between price-linked and exogenous subsidies in many public insurance programs. I discuss an alternate policy that would eliminate the distortion while maintaining many of the benefits of price-linked subsidies. Chapter 3 studies demand for annuities – insurance products that protect retirees against outliving their assets. Standard life cycle theory predicts that individuals facing uncertain mortality will annuitize all or most of their retirement wealth. Researchers seeking to explain why retirees rarely purchase annuities have focused on imperfections in commercial annuities – including actuarially unfair pricing, lack of bequest protection, and illiquidity in the case of risky events like medical shocks. I study the annuity choice implicit in the timing of Social Security claiming and show that none of these can explain why most retirees claim benefits as early as possible, effectively choosing the minimum annuity. Most early claimers in the Health and Retirement Study had sufficient liquidity to delay Social Security longer than they actually did and could have increased lifetime consumption by delaying. Because the marginal annuity obtained through delay is better than actuarially fair, standard bequest motives cannot explain the puzzle. Nor can the risk of out-of-pocket nursing home costs, since these are concentrated at older ages past the break-even point for delayed claiming. Social Security claiming patterns, therefore, add to the evidence that behavioral explanations may be needed to explain the annuity puzzle.
Economics
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Wong, Shek-Keung Tony. "Valuation of Ratchet Equity-Indexed Annuities." Kyoto University, 2008. http://hdl.handle.net/2433/124090.

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Books on the topic "Annuitet"

1

R, Brown Jeffrey. Joint life annuities and annuity demand by married couples. Cambridge, MA: National Bureau of Economic Research, 1999.

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1958-, Streiff Thomas F., ed. Annuities. 4th ed. Chicago, IL: Dearborn Financial Institute, 2004.

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1958-, Streiff Thomas F., ed. Annuities. 2nd ed. Chicago, Ill: Dearborn R&R Newkirk, 1997.

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David, Shapiro. Annuities. Chicago, IL: Dearborn R&R Newkirk, 1992.

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Duff, Richard W. The annuity blue book: How to avoid hidden traps and tax disasters when selling annuities. Denver, CO: R.W. Duff and T.M. Clark, 1997.

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Duff, Richard W. The annuity blue book: How to avoid hidden traps and tax disasters when selling annuities. 2nd ed. Denver, CO: R.W. Duff and T.M. Clark, 2001.

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Leeuwenburg, Patsy. Marketing annuities. 2nd ed. Atlanta, Ga: LOMA, 2008.

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Schuster, Thomas, and Leona Rüdt von Collenberg. Investitionsrechnung: Kapitalwert, Zinsfuß, Annuität, Amortisation. Berlin, Heidelberg: Springer Berlin Heidelberg, 2017. http://dx.doi.org/10.1007/978-3-662-47799-1.

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Cannon, Edmund Stuart. Annuity markets. New York: Oxford University Press, 2008.

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F, McKeever Joseph, and Seymon-Hirsch Barbara N, eds. Annuities answer book. 3rd ed. New York: Aspen Publishers, 2000.

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Book chapters on the topic "Annuitet"

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Pasi, Dave. "Annuities." In Wall Street Potholes, 145–70. Hoboken, NJ, USA: John Wiley & Sons, Inc, 2015. http://dx.doi.org/10.1002/9781119093305.ch7.

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Sutcliffe, Charles. "Annuities." In Finance and Occupational Pensions, 247–99. London: Palgrave Macmillan UK, 2016. http://dx.doi.org/10.1057/978-1-349-94863-5_5.

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Cipra, Tomas. "Annuities." In Financial and Insurance Formulas, 35–49. Heidelberg: Physica-Verlag HD, 2010. http://dx.doi.org/10.1007/978-3-7908-2593-0_7.

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Richman, Ronald. "Annuities." In Encyclopedia of Gerontology and Population Aging, 1–8. Cham: Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-319-69892-2_519-1.

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Gerber, Hans U. "Life Annuities." In Life Insurance Mathematics, 35–47. Berlin, Heidelberg: Springer Berlin Heidelberg, 1990. http://dx.doi.org/10.1007/978-3-662-02655-7_4.

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Gerber, Hans U. "Life Annuities." In Life Insurance Mathematics, 35–47. Berlin, Heidelberg: Springer Berlin Heidelberg, 1997. http://dx.doi.org/10.1007/978-3-662-03460-6_4.

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Gerber, Hans U. "Life Annuities." In Life Insurance Mathematics, 35–47. Berlin, Heidelberg: Springer Berlin Heidelberg, 1995. http://dx.doi.org/10.1007/978-3-662-03153-7_4.

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Fevurly, Keith R. "Variable Annuities." In The Handbook of Professionally Managed Assets, 291–311. Berkeley, CA: Apress, 2013. http://dx.doi.org/10.1007/978-1-4302-6020-2_15.

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Anderton, W. Nicholas, and Geoffrey H. Robb. "Impaired Lives Annuities." In Medical Selection of Life Risks, 169–71. London: Palgrave Macmillan UK, 2000. http://dx.doi.org/10.1007/978-1-349-14499-0_11.

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Robb, Geoffrey H., and Richard Willets. "Impaired Life Annuities." In Brackenridge’s Medical Selection of Life Risks, 177–82. London: Palgrave Macmillan UK, 2006. http://dx.doi.org/10.1007/978-1-349-56632-7_11.

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Conference papers on the topic "Annuitet"

1

Мусаева, Ульвия Шамседдин кызы. "PROBLEMS WITH A LIFETIME ANNUITY CONTRACT." In Наука. Исследования. Практика: сборник избранных статей по материалам Международной научной конференции (Санкт-Петербург, Апрель 2021). Crossref, 2021. http://dx.doi.org/10.37539/srp296.2021.90.74.009.

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В работе рассматривается проблема исполнения обязательства пожизненной ренты и гарантия защиты прав получателя ренты. По результатам исследования приводятся способы защиты прав добросовестных получателей пожизненной ренты. The paper deals with the problem of fulfilling the obligation of a lifetime annuity and the guarantee of protection of the rights of the annuity recipient. According to the results of the study, the methods of protecting the rights of bona fide recipients of a lifetime annuity are presented.
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Li, Yi. "Explanation on “annuities puzzle”." In 2011 International Conference on E-Business and E-Government (ICEE). IEEE, 2011. http://dx.doi.org/10.1109/icebeg.2011.5884485.

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Marciniuk, Agnieszka. "Marriage Reverse Annuity Contract and Reverse Mortgage – Application of a Generalized Model of Reversionary Annuity." In Applications of Mathematics and Statistics in Economics. International Scientific Conference: Szklarska Poręba, 30 August- 3 September 2017. Publishing House of Wroclaw University of Economics, 2017. http://dx.doi.org/10.15611/amse.2017.20.24.

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Shang, Qin, and Xuezhi Qin. "Securitization of Longevity Risk in Pension Annuities." In 2008 4th International Conference on Wireless Communications, Networking and Mobile Computing (WiCOM). IEEE, 2008. http://dx.doi.org/10.1109/wicom.2008.2285.

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Gan, Guojun, Zhiyu Quan, and Emiliano Valdez. "Machine Learning Techniques for Variable Annuity Valuation." In 2018 4th International Conference on Big Data and Information Analytics (BigDIA). IEEE, 2018. http://dx.doi.org/10.1109/bigdia.2018.8632794.

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Liu, Lingchen, Xiuping Yang, Wanpeng Lei, and Ting Li. "Calculations of Special Annuities under Random Rates of Interest." In 2011 Fourth International Conference on Business Intelligence and Financial Engineering (BIFE). IEEE, 2011. http://dx.doi.org/10.1109/bife.2011.32.

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Qian Feng and Liping Geng. "The study on enterprise annuity system model selection." In 2011 2nd International Conference on Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC). IEEE, 2011. http://dx.doi.org/10.1109/aimsec.2011.6010627.

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Zhang, Xuezhou, Kai Qiao, and Peiwu Dong. "Scenario Analysis of Enterprise Annuity Supervision in China." In International Conference on Logistics Engineering, Management and Computer Science (LEMCS 2014). Paris, France: Atlantis Press, 2014. http://dx.doi.org/10.2991/lemcs-14.2014.234.

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Ming-hua Hsieh and Yu-fen Chiu. "Monte Carlo methods for valuation of ratchet equity indexed annuities." In 2007 Winter Simulation Conference. IEEE, 2007. http://dx.doi.org/10.1109/wsc.2007.4419697.

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Shi-long, Li, and Zhao Xia. "Actuarial present values in continuous annuities based on Hossian Assumption." In 2013 International Conference on Management Science and Engineering (ICMSE). IEEE, 2013. http://dx.doi.org/10.1109/icmse.2013.6586306.

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Reports on the topic "Annuitet"

1

Brown, Jeffrey, and James Poterba. Joint Life Annuities and Annuity Demand by Married Couples. Cambridge, MA: National Bureau of Economic Research, June 1999. http://dx.doi.org/10.3386/w7199.

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Davidoff, Thomas, Jeffrey Brown, and Peter Diamond. Annuities and Individual Welfare. Cambridge, MA: National Bureau of Economic Research, May 2003. http://dx.doi.org/10.3386/w9714.

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Gentry, William, and Joseph Milano. Taxes and Investment in Annuities. Cambridge, MA: National Bureau of Economic Research, April 1998. http://dx.doi.org/10.3386/w6525.

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Mitchell, Olivia, and David McCarthy. Annuities for an Ageing World. Cambridge, MA: National Bureau of Economic Research, August 2002. http://dx.doi.org/10.3386/w9092.

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Brown, Jeffrey, Arie Kapteyn, Erzo F. P. Luttmer, and Olivia Mitchell. Cognitive Constraints on Valuing Annuities. Cambridge, MA: National Bureau of Economic Research, June 2013. http://dx.doi.org/10.3386/w19168.

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Brown, Jeffrey, and James Poterba. Household Ownership of Variable Annuities. Cambridge, MA: National Bureau of Economic Research, January 2006. http://dx.doi.org/10.3386/w11964.

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O'Dea, Cormac, and David Sturrock. Survival Pessimism and the Demand for Annuities. Cambridge, MA: National Bureau of Economic Research, August 2020. http://dx.doi.org/10.3386/w27677.

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Sturrock, David, and Cormac O'Dea. Survival pessimism and the demand for annuities. The IFS, January 2019. http://dx.doi.org/10.1920/wp.ifs.2019.0219.

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McCarthy, David, and Olivia Mitchell. International Adverse Selection in Life Insurance and Annuities. Cambridge, MA: National Bureau of Economic Research, September 2003. http://dx.doi.org/10.3386/w9975.

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Poterba, James. The History of Annuities in the United States. Cambridge, MA: National Bureau of Economic Research, April 1997. http://dx.doi.org/10.3386/w6001.

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