Protection against the prospect of living too long is an important factor in old-age savings decisions. Without the possibility of efficiently converting savings into life annuities, a person is at risk of having lower-than-expected living standards if she lives a long time, or leaving a larger...

This article considers estate planning issues in connection with 3 major types of non-probate assets, including naming the correct beneficiary, additional points to consider in connection with beneficiary designations, and planning for events such as incapacity

Qualified longevity annuity contracts (QLACs) allow a retiree to defer an annuity starting date until he or she is as old as age 85, without violating required minimum distribution rules. The IRS designed QLACs to alleviate some of the risk that a retiree would outlive his or her retirement...

Pooled annuity products, where the participants share systematic and idiosyncratic mortality risks as well as investment returns and risk, provide an attractive and effective alternative to traditional guaranteed life annuity products. While longevity risk sharing in pooled annuities has...

We discuss the optimal withdrawal rate in the existence of longevity risks. The longevity is realized as the factor of conditional survival rate in the model. We solve a optimal consumption problem under longevity risks, while managing the assets. The objective of the current work is giving a...

Longevity insurance pays cash benefits to an insured individual who attains a defined age. Thereafter, benefits may continue throughout the insured's life. For anyone concerned that living too long might become an economic hardship, longevity insurance, at the right price, can make sense. Yet,...