Description: This paper reviews the need for longevity insurance during retirement, and then establishes a framework to study the total asset allocation decision in retirement, which includes both conventional asset classes and immediate payout annuity products.

Description: Report covering the mortality experience from 1945 to 1950 anniversaries under the following three major categories of contracts: 1. Life income settlements arising out of death claims 2. Life income settlements arising out of the maturity of endowment or retirement income policies or the cash surrender of insurance or annuity contracts 3. Maturities of deferred annuity contracts

Description: Contains two separate articles, called notes. The first note, “A note on correlation in mean variance portfolio theory,” is an elementary discussion of how negative correlation coefficients can be, given any set of N random variables. The second note, “Two essential formulas in actuarial science and financial mathematics,” gives a more or less self-contained introduction to Jensen’s inequality and to another formula, which the author decided to call the “survival function expectation formula.”

Description: Discusses the extent to which various influences are reflected in premiums, dividends and settlement options: improved mortality, interest rate trends, federal taxes, agent compensation and increasing expenses.