In addition to an interest rate guarantee and annual surplus participation, life insurance contracts typically embed the right to stop premium payments during the term of the contract (paid-up option), to resume payments later (resumption option), or to terminate the contract early (surrender...

This article tests the theory recently put forward by Edward Lazear that individuals with competence in many skills should have a higher probability of being self-employed than others. The empirical results for Germany support this jack-of-all-trades view.