Annuity

An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.

S. Jay Olshansky on Why the Message is All About Extending Health

S. Jay Olshansky is a Professor in the School of Public Health at the University of Illinois at Chicago and Research Associate at the Center on Aging at the University of Chicago and at the London School of Hygiene and Tropical Medicine. Much of Dr. Olshanky's research has focused on the upper limits to human longevity and the health and public policy implications associated with aging.  We had an opportunity to connect with Jay at the recent SOA Living to 100 Symposium.

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Moshe Milevsky Discusses Tontines for the 21st Century

Moshe Milevsky is an Associate Professor in Finance at the Schulich School of Business at York University, and he is one of the world’s leading authorities on retirement income.  Professor Milevsky recently published and presented an...

An Interview with Gordon Woo of RMS

AD: Your book Calculating Catastrophe discusses the dynamic nature of catastrophe risks, and you have written elsewhere about how...

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Noteworthy Reads - October 17, 2013

- Buffett and Berkshire adding equity exposure to defined benefit...

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