The Need for Longevity Insurance
Submitted by tom on
There is a good article in Reuters by financial journalist Mark Miller.
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Advanced Life Deferred Annuity
An advanced life deferred annuity (ALDA) is the same as a longevity annuity or longevity insurance. This type of annuity is used to hedge longevity risk. In other words, an ALDA is used to protect someone from outliving their assets. The advanced life deferred annuity involves a single, lump sum premium payment at the onset of the contract period. The annuity payments are deferred or begin later in the contract owner's life. For example, a 65 year old person may buy an ALDA that begins providing annuity payments at age 80. The ALDA is a very efficient form of annuity and can very effectively provide protection against longevity risk.
Top Ten Annuity Buying Tips
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Full List of Annuity Types
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Swiss Re First in Providing Longevity Insurance to a Public Pension Fund
The Reinsurer Swiss Re has provided the first public-private longevity transaction with a U.K.-based public sector pension fund . Swiss Re is essentially providing longevity insurance to 11,000 of the current pensioners under the Royal County of Berkshire Pension Fund. Swiss Re will assume the "floating" annuity payments and longevity risk for the 11,000 pensioners in exchange for an ongoing fixed premium. The Royal County of Berkshire retains control over the plan assets and the plan...
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Longevity Risk and Portfolio Protection Without a Variable Annuity
Two of the most daunting risks faced by the majority of retirees are:
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