Description: Enhanced or impaired annuities are life annuities underwritten to reflect annuitants' actual mortality. They are not currently prevalent in the U.S. or Canada, where life annuities assume low mortality and are thus unfair for impaired lives. This paper looks at the present annuity marketplace in the United States and Canada. It also reviews the underwriting and marketing of life annuities in the United Kingdom where “enhanced” life annuities are available for a broader cross section of the marketplace. It also reviews the use of P&C risk classification techniques and how they might apply to the annuity marketplace as well as potential legal constraints on broader risk classification for life annuities.

Description: The authors present a ‘theoretical basis for a computerized methodology for estimating biological age - a measure of time to death.’ The authors discuss how they reproduce the human underwriting of a life insurance company using a computerized methodology. Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1983 Volume 35.