Description: Discussion of the biases understatement of risk/reserves that arise when aggregating cells in modeling Variable Annuity Minimum Guaranteed Death Benefits

Description: This paper describes some of the minimum guaranteed death and maturity benefits that have been offered or proposed in conjunction with variable annuity contracts, proposes prospective reserves for these guarantees based on change factors that are somewhat analogous to interest factors used in typical life reserves, and proposes a set of change factors.

Description: A discussion of the growing popularity of annuities with guaranteed minimum income benefits GMIB during times of bear markets and some related discussion of product features, minimum statutory reserves and capital requirements for the product

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.