Income Annuity

Income annuity is a term used to refer to immediate annuities. Income annuities come in many different forms (for example, payments from income annuities can be either fixed or variable), but the defining characteristics of income annuities include are that they are purchased with a single lump sum premium payment and the payouts commence shortly (within months) after the annuity has been purchased.

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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Annuity Duration

Duration is a measure of the time associated with cash flows or payments from a bond. Duration measures the amount of time (in years from the purchase date) required for a bond owner to receive interest and principal payments that are equal to the cost of the bond.

Long duration bonds have payments that are spread-out over a relatively long period of time (e...

Who Provides Longevity Insurance

The U.S. longevity insurance market has been developing for almost a decade, and yet there are...

No Time for Guarantees

The concept is seductive: a financial product that provides upside exposure in the event that equity markets trend up and to the right while also providing a floor of protection in case the bottom falls-out from under markets again.

Sort of like having your cake and eating it too. Very tempting in light of the massive financial uncertainty that has existed for the past several years.

Products playing into this “upside plus protection” theme include (but are not limited to) variable annuities with guaranteed...