Gatzert, Nadine; Hoermann, Gudrun; Schmeiser, Hato - Institut für Versicherungswirtschaft <Sankt Gallen> - 2008
. INTRODUCTION
In the U.S. life settlement market, life insurance policies of senior citizens with below-
average life expectancy … surrender of policies,
3
especially by insureds with impaired
health (see Doherty and Singer (2002, pp. 15–16)). Adverse … lapse-supported products, i.e., policies that are priced based on persistency
assumptions. This may result in the need to …