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Author: Ermanno Pitacco Publisher: OUP Oxford ISBN: 0191563153 Category : Business & Economics Languages : en Pages : 417
Book Description
Mortality improvements, uncertainty in future mortality trends and the relevant impact on life annuities and pension plans constitute important topics in the field of actuarial mathematics and life insurance techniques. In particular, actuarial calculations concerning pensions, life annuities and other living benefits (provided, for example, by long-term care insurance products and whole life sickness covers) are based on survival probabilities which necessarily extend over a long time horizon. In order to avoid underestimation of the related liabilities, the insurance company (or the pension plan) must adopt an appropriate forecast of future mortality. Great attention is currently being devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes. In particular, the progressive shift from defined benefit to defined contribution pension schemes has increased the interest in life annuities with a guaranteed annual amount. This book provides a comprehensive and detailed description of methods for projecting mortality, and an extensive introduction to some important issues concerning longevity risk in the area of life annuities and pension benefits. It relies on research work carried out by the authors, as well as on a wide teaching experience and in CPD (Continuing Professional Development) initiatives. The following topics are dealt with: life annuities in the framework of post-retirement income strategies; the basic mortality model; recent mortality trends that have been experienced; general features of projection models; discussion of stochastic projection models, with numerical illustrations; measuring and managing longevity risk.
Author: Ermanno Pitacco Publisher: OUP Oxford ISBN: 0191563153 Category : Business & Economics Languages : en Pages : 417
Book Description
Mortality improvements, uncertainty in future mortality trends and the relevant impact on life annuities and pension plans constitute important topics in the field of actuarial mathematics and life insurance techniques. In particular, actuarial calculations concerning pensions, life annuities and other living benefits (provided, for example, by long-term care insurance products and whole life sickness covers) are based on survival probabilities which necessarily extend over a long time horizon. In order to avoid underestimation of the related liabilities, the insurance company (or the pension plan) must adopt an appropriate forecast of future mortality. Great attention is currently being devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes. In particular, the progressive shift from defined benefit to defined contribution pension schemes has increased the interest in life annuities with a guaranteed annual amount. This book provides a comprehensive and detailed description of methods for projecting mortality, and an extensive introduction to some important issues concerning longevity risk in the area of life annuities and pension benefits. It relies on research work carried out by the authors, as well as on a wide teaching experience and in CPD (Continuing Professional Development) initiatives. The following topics are dealt with: life annuities in the framework of post-retirement income strategies; the basic mortality model; recent mortality trends that have been experienced; general features of projection models; discussion of stochastic projection models, with numerical illustrations; measuring and managing longevity risk.
Author: Francesco Menoncin Publisher: Springer Nature ISBN: 3030555283 Category : Business & Economics Languages : en Pages : 239
Book Description
This book presents a consistent and complete framework for studying the risk management of a pension fund. It gives the reader the opportunity to understand, replicate and widen the analysis. To this aim, the book provides all the tools for computing the optimal asset allocation in a dynamic framework where the financial horizon is stochastic (longevity risk) and the investor's wealth is not self-financed. This tutorial enables the reader to replicate all the results presented. The R codes are provided alongside the presentation of the theoretical framework. The book explains and discusses the problem of hedging longevity risk even in an incomplete market, though strong theoretical results about an incomplete framework are still lacking and the problem is still being discussed in most recent literature.
Author: Institute of Medicine Publisher: National Academies Press ISBN: 0309083435 Category : Medical Languages : en Pages : 213
Book Description
Many Americans believe that people who lack health insurance somehow get the care they really need. Care Without Coverage examines the real consequences for adults who lack health insurance. The study presents findings in the areas of prevention and screening, cancer, chronic illness, hospital-based care, and general health status. The committee looked at the consequences of being uninsured for people suffering from cancer, diabetes, HIV infection and AIDS, heart and kidney disease, mental illness, traumatic injuries, and heart attacks. It focused on the roughly 30 million-one in seven-working-age Americans without health insurance. This group does not include the population over 65 that is covered by Medicare or the nearly 10 million children who are uninsured in this country. The main findings of the report are that working-age Americans without health insurance are more likely to receive too little medical care and receive it too late; be sicker and die sooner; and receive poorer care when they are in the hospital, even for acute situations like a motor vehicle crash.
Author: Larry E. Swedroe Publisher: Harriman House Limited ISBN: 0857198386 Category : Business & Economics Languages : en Pages : 239
Book Description
Fully revised and updated second edition. This is your one-stop, definitive resource as you prepare for a secure and comfortable retirement. Investment and personal finance experts Larry Swedroe and Kevin Grogan present uniquely comprehensive coverage of every important aspect you need to think about as you approach retirement, including: Social Security, Medicare, investment planning strategy, portfolio maintenance, preparing your heirs, retirement issues faced by women, the threat of elder financial abuse, going beyond financials to think about your happiness, and much more. These topics are explained with the help of specialists in each subject. And everything is based on the "science of investing" – evidenced with studies from peer-reviewed journals. Overall, this adds up to a complete retirement guide, packed with the latest and best knowledge. Don't enter your retirement without it.
Author: Bruce A. Carnes Publisher: W. W. Norton & Company ISBN: 0393245888 Category : Science Languages : en Pages : 259
Book Description
"This is by far the best book I've read on the science of aging."—Andrew Weil, M.D. "Life-span Truth Will Set You Free from Age-old Worries," announced the Chicago Tribune upon the first publication of this book. The New England Journal of Medicine confirmed, "For readers interested in aging and longevity, this small book clearly explains the major concepts...extremely enjoyable to read." From NBC Nightly News with Tom Brokaw to Scientific American to the New York Times, S. Jay Olshansky and Bruce A. Carnes have stirred up controversy and brought clarity to an issue often muddled by exaggeration and pseudoscience. Medical science has uncovered a host of answers to the problems of aging, but many of the most exciting discoveries are buried in scientific journals or overshadowed by popular quick-fix treatments. The Quest for Immortality explains the real science of aging and shows which treatments offered by today's multi-billion-dollar anti-aging industries offer real hope, and which are a waste of money and time.
Author: National Academies of Sciences, Engineering, and Medicine Publisher: National Academies Press ISBN: 0309452961 Category : Medical Languages : en Pages : 583
Book Description
In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Author: National Academies of Sciences, Engineering, and Medicine Publisher: National Academies Press ISBN: 0309671035 Category : Social Science Languages : en Pages : 317
Book Description
Social isolation and loneliness are serious yet underappreciated public health risks that affect a significant portion of the older adult population. Approximately one-quarter of community-dwelling Americans aged 65 and older are considered to be socially isolated, and a significant proportion of adults in the United States report feeling lonely. People who are 50 years of age or older are more likely to experience many of the risk factors that can cause or exacerbate social isolation or loneliness, such as living alone, the loss of family or friends, chronic illness, and sensory impairments. Over a life course, social isolation and loneliness may be episodic or chronic, depending upon an individual's circumstances and perceptions. A substantial body of evidence demonstrates that social isolation presents a major risk for premature mortality, comparable to other risk factors such as high blood pressure, smoking, or obesity. As older adults are particularly high-volume and high-frequency users of the health care system, there is an opportunity for health care professionals to identify, prevent, and mitigate the adverse health impacts of social isolation and loneliness in older adults. Social Isolation and Loneliness in Older Adults summarizes the evidence base and explores how social isolation and loneliness affect health and quality of life in adults aged 50 and older, particularly among low income, underserved, and vulnerable populations. This report makes recommendations specifically for clinical settings of health care to identify those who suffer the resultant negative health impacts of social isolation and loneliness and target interventions to improve their social conditions. Social Isolation and Loneliness in Older Adults considers clinical tools and methodologies, better education and training for the health care workforce, and dissemination and implementation that will be important for translating research into practice, especially as the evidence base for effective interventions continues to flourish.
Author: Olivia S. Mitchell Publisher: Oxford University Press ISBN: 0192859803 Category : Law Languages : en Pages : 353
Book Description
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Notwithstanding the terrible price the world has paid in the coronavirus pandemic, the fact remains that longevity at older ages is likely to continue to rise in the medium and longer term. This volume explores how the private and public sectors can collaborate via public-private partnerships (PPPs) to develop new mechanisms to reduce older people's risk of outliving their assets in later life. As this volume shows, PPPs typically involve shared government financing alongside private sector partner expertise, management responsibility, and accountability. In addition to offering empirical evidence on examples where this is working well, contributors provide case studies, discuss survey results, and examine a variety of different financial and insurance products to better meet the needs of the aging population. This volume will be informative to researchers, plan sponsors, students, and policymakers seeking to enhance retirement plan offerings.
Author: OECD Publisher: OECD Publishing ISBN: 9789264169395 Category : Languages : en Pages : 230
Book Description
This edition looks at pension reform during the crisis and beyond, the design of automatic adjustment mechanisms, reversals of systemic pension reforms in Central and Eastern Europe, coverage of private pension systems and guarantees indefined contribution pension systems.
Author: Ermanno Pitacco
Author: Ermanno Pitacco
Author: Francesco Menoncin
Author: National Academies of Sciences Engineering and Medicine
Author: Institute of Medicine
Author: Larry E. Swedroe
Author: Bruce A. Carnes
Author: National Academies of Sciences, Engineering, and Medicine
Author: National Academies of Sciences, Engineering, and Medicine
Author: Olivia S. Mitchell
Author: OECD