Investing in Longevity Risk

Longevity risk has existed as an asset class for quite some time but has primarily been the focus of larger institutions.

In a recent Financial Times article, the author discusses the recent proliferation of longevity and mortality related investment products.

The range of product options include:

  • Life settlements, blocks of annuities, reverse mortgages and life tenancies.
  • Longevity/Mortality swaps.
  • Structured notes, including pass-through, principal protected notes, coupon protected notes and leveraged notes.
  • Targeted population indices and broad population indices.

Source: Financial Times

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To my knowledge, no retail products that are built off of or derived from these existing indexes.

Certainly a number of institutional products that have been developed.

I suppose there are ways to capture longevity exposure indirectly through other asset classes and retail products, but a separate conversation.