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see insuranceinsurance
or assurance,
device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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References in periodicals archive ?
If they are not, then the policy implications would depend on the nature of the misspecification, the case for mandatory annuitization being particularly weak if households are choosing not to annuitize as a result of a strong bequest motive.
Jeffrey Brown of the University of Illinois and his collaborators have explored how the decision to annuitize is affected by the way the choice is framed.
Brown, "Private Pensions, Mortality Risk, and the Decision to Annuitize," Journal of Public Economics, 82 (1) (October 2001), pp.
The annuity equivalent wealth, [alpha], is a measure of the additional wealth that must be given to the individual in the absence of annuities to be as well off as if the individual could annuitize at a price of [phi].
In recent years, TIAA-CREF has found that nearly one-third of its participants choose to annuitize some portion of their assets.
It describes a new multiple period cash-flow-based investment framework that incorporates a dynamic asset allocation strategy and uses the projected cost to annuitize the investor's desired lifetime income stream as a hurdle for managing longevity risk within the portfolio.
Compounding our concern is that those who have chosen to annuitize their wealth through private annuity purchases are relatively few today.
He expects that even those choosing the income benefit use it as a safety net in their accumulation product, then plan to annuitize for income.
This estimate assumes that people work to age 65 and annuitize all their financial assets, including the receipts from reverse mortgages on their homes," Munnell said.
With Income Solutions(R), individuals can annuitize what they need, get a lower price, buy an income stream and leave their remaining savings in their employer's retirement plan.
And, this new spousal benefit can provide a certain security that comes from knowing there is complete flexibility as to when to start taking income without ever having to annuitize the contract.
Based on the report, Mackey said he would expect financial advisers to recommend deferred variable annuities to clients in their 40s or 50s, 50 they could enjoy the benefits of tax-deferred growth until they annuitize their contracts.