Artikler tagget med MORTALITY
Does Retirement Kill You? Evidence from Early Retirement Windows
19 januar 2015
The magnitude of the effect that health has on the retirement decision has long been studied. We examine the reverse relationship, whether or not retirement has a direct impact on later-life health. In order to identify the causal relationship, we use unexpected early retirement window offers to instrument for retirement behavior.
Cohort Mortality Risk or Adverse Selection?
22 september 2014
The "money's worth" measure has been used to assess whether annuities are fairly valued and also as evidence for adverse selection in the annuity market. However, a regulated life assurer with concerns about predicting long-run mortality may price annuities to reduce these risks which will affect the money’s worth.
The Causal Effect of Retirement on Mortality
01 september 2014
This paper identifies and estimates the impact of early retirement on the probability to die within five years, using administrative micro panel data covering the entire population of the Netherlands.
Developing Forecasting Mortality Trends allowing for Cause-of-Death Mortality Dependence
18 juli 2014
Longevity risk is amongst the most important factors to consider for pricing and risk management of longevity products. Past improvements in mortality over many years, and the uncertainty of these improvements, have attracted the attention of experts, both practitioners and academics.
Model Risk, Mortality Heterogeneity and Implications for Solvency and Tail Risk
09 juli 2014
Mortality models used to assess longevity risk and retirement funding have been extended to stochastic models with trends and systematic risk. Systematic risk cannot be readily diversified in an insurance pool or pension fund. It is an important factor in assessing solvency and highlighting the tail risk in longevity insurance and pension products.
Individual Post-Retirement Longevity Risk Management Under Systematic Mortality Risk
02 juli 2014
This paper analyzes an individual’s post retirement longevity risk management strategy allowing for systematic longevity risk, recent product innovations, and product loadings.
Heterogeneity of Australian Population Mortality and Implications for a Viable Life Annuity Market
13 juni 2014
Heterogeneity in mortality rates is known to exist in populations, undermining the use of age and sex as the only rating factors for life insurance and annuity products. Life insurers underwrite life products using a variety of rating factors to allow for this heterogeneity.