Withdrawal strategy for guaranteed lifelong withdrawal benefit option

• Autorzy: Gabriella Piscopo
• Języki publikacji: EN

Abstrakty

EN

In this paper we present a price model for the Guaranteed Lifelong Withdrawal Benefit, an option embedded in Variable Annuity policies, which gives the insured the possibility to withdraw from a fund a guaranteed amount annually, even if the account value has fallen below this amount. We calculate the No-arbitrage price of the contract if policyholders withdraw always the guaranteed amount or they surrender the product when the surrender value exceeds the value of future benefits.(original abstract)

Słowa kluczowe

EN

Securities market; Annuities; Pension funds

PL

Rynek papierów wartościowych; Renty; Fundusze emerytalne

• Czasopismo: Perspectives of Innovations, Economics and Business
• Rocznik: 2010
• Tom: 5
• Numer: nr 2
• Strony: 47--49

Twórcy

autor

Gabriella Piscopo

• University of Naples Federico II, Italy

Bibliografia

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