The Role of Annuity Markets in Financing Retirement
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Book Overview
Dramatic advances in life expectancy mean that today's retirees must plan on living into their eighties, their nineties, and even beyond. Longer life expectancies are the symbol of a prosperous society, but this progress also means that some retirees will need to plan conservatively and cut back substantially on their living standards or risk living so long that they exhaust their resources. This book examines the role that life annuities can play in helping people protect themselves against such outcomes.A life annuity is an insurance product that pays out a periodic amount for as long as the annuitant is alive, in exchange for a premium. The book begins with a history of life annuity markets during the twentieth century in the United States and elsewhere. It then explores recent trends in annuity pricing and money's worth, as well as the economic value generated for purchasers of these products. The book explains the potential importance of inflation-protected annuities and stock-market-linked variable annuities in providing more complete retirement security. The concluding chapters examine life annuities in various institutional settings and the tax treatment of annuity products.
Format:Hardcover
Language:English
ISBN:0262025094
ISBN13:9780262025096
Release Date:December 2001
Publisher:MIT Press
Length:240 Pages
Weight:1.00 lbs.
Dimensions:0.7" x 6.3" x 9.2"
Age Range:18 years and up
Grade Range:Postsecondary and higher
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Accounting Accounting & Finance Banking Banks & Banking Business Business & Finance Business & Investing Credit Ratings & Repair Economics Finance Industries & Professions Investing Investments & Securities Personal Finance Politics & Government Popular Economics Public Affairs & Policy Retirement Planning Social Services & WelfareCustomer Reviews
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