Gong, Guan; Sass, Steven A. - Center for Retirement Research (CRR), Boston College - 2007
Although annuities provide longevity insurance that should, in theory, be attractive to risk-averse households facing an uncertain lifespan, rates of voluntary annuitization remain extremely low. We evaluate a proposed annuity product, the Advanced Life Deferred Annuity, an annuity purchased at...