Description: This paper shows the mortality element can be partially isolated allowing an exact annuity value to be readily obtained at any interest rate. From the Actuarial Research Clearing House 1979, Vol.2.

Description: This presentation develops an integrated approach that addresses simultaneously guaranteed annuity option (GAO)’s pricing and capital requirement calculation.

Description: 1997 Valuation Actuary Symposium, Session 21 looks at advanced topics in annuity modeling.

Description: This session at the 1998 Valuation Actuary Symposium discusses issues related to variable and fixed deferred annuity modeling.

Description: Life and annuity markets around the world have seen increasingly complex investment-combined products, including universal life, fixed indexed annuities, variable annuities with a wide variety of guaranteed benefits, indexed variable annuities, etc. Insurance companies are facing unprecedented exposure to financial risks in addition to traditional mortality and longevity risks. The risk assessment and modeling for such complex designs by conventional methods often focus heavily on their market competitiveness and profitability. However, there seems to be a lack of quantifiable and systematic approach to assess investment risks associated with investment combined products. The objective of the proposed work is to develop a framework for quantifying and analyzing various forms of contractual designs and showcase different techniques to assess the trade-off between competitive contractual designs and their practical implications with regard to the difficulty of risk management.

Description: An overview of guaranteed lifetime withdrawal benefits (GLWB) on registered index-linkedannuity (RILA) products and a stochastic analysis of market risks.

Description: The objective of this paper from the Transactions of Society of Actuaries 1964, Vol. 16, Pt. 1, No. 44 AB, is to illustrate some of the alternative approaches to making approximate probability statements about the present value of life annuities assuming a specified distribution of the random variable, time until death, and a fixed interest rate.

Description: The dependent relationship between two lives is readily analyzed within the context of probability theory. This paper presents useful relationships between certain actuarial and probability functions and then explores measures of dependence. From Transactions of Society of Actuaries 1986, Vol. 38.