Description: This paper develops a model of annuity mortality that facilitates a more thorough evaluation of the issues of policyholder antiselection and insurance company response. Aging occurs as an annuitant's health state changes. Death occurs either as terminal health state or by accident. By knowing the current health state, the annuitant or insurance company can improve its knowledge about life expectancy.

Description: This paper explains how legal reforms related to annuities have decreased the popularity of annuities among plan sponsors, and then describes how a proposal for a federal charter option for life insurance companies could hold some promise for persuading plan sponsors to put annuities back into savings plans.

Description: This paper suggests a possible framework for the mandatory annuitization of U.S. retirement savings, considers the experience of other countries and analyzes the advantages and disadvantages of mandatory annuitization.

Description: This literature guide focuses on the distribution costs, especially the field compensation costs, that are incurred through the traditional general agency, branch office or brokerage structures for individual life, annuity and disability products.

Description: The purpose of this paper is to study mortality-based securities, such as mortality bonds and swaps, and to price the proposed mortality securities. The focus is on individual annuity data, although some of the modeling techniques could be applied to other lines of annuity or life insurance.

Description: Presented at May 2002 Spring Meeting. The panel identifies the risks in annuity products and the product development and reinsurance actions that can enable an insurer to manage the risks.

Description: Presented at October 1996 Annual Meeting. This discussion examines a few prototype annuity designs and mainly focuses on a typical single premium deferred annuity 'SPDA', a flexible premium deferred annuity, and a variable annuity.