The Handbook of Variable Income Annuities

Front Cover
John Wiley & Sons, Aug 28, 2006 - Business & Economics - 800 pages
In-depth coverage of variable income annuities

With trillions of dollars in retirement savings assets, the tens of millions of Americans on the precipice of retirement need to convert these savings into retirement income. The fact that variable income annuities (VIAs) generate maximum lifetime income with zero probability of outliving it has spurred the need for more information about VIAs. The Handbook of Variable Income Annuities is by far the most comprehensive source of information on this topic. This book thoroughly describes the most important principles of optimal asset liquidation and demystifies VIA mechanics, so readers can gain a high comfort level with this important financial instrument. Interestingly and clearly, The Handbook of Variable Income Annuities explains the mathematical pricing of variable income annuities, expected rates of return, taxation, product distribution, legal aspects, and much more.

Jeffrey K. Dellinger (Fort Wayne, IN), a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries, has over 25 years experience in the financial services sector. He advises institutions on retirement income optimization, products, and markets.

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Contents

Chapter 1 Retirement Income Basics
1
Chapter 2 Annuity Categorization
17
Chapter 3 Immediate Fixed Annuity Mechanics NonLifeContingent
21
Chapter 4 Immediate Variable Annuity Mechanics NonLifeContingent
39
Chapter 5 Annuity Payout Options
59
Chapter 6 Annuitant Populations and Annuity Present Values
77
Chapter 7 Immediate Variable Annuity Subaccounts
249
Chapter 8 Rate of Return
277
Chapter 15 Securities Law
441
Chapter 16 Forms of Insurance and Insurers
453
Chapter 17 IVA Business Value to Annuity Company
473
Chapter 18 Product Development Trends
489
Chapter 19 Conclusion
565
Appendixes
575
Quotable Wisdom Regarding Longevity
715
Notes
717

Chapter 9 Reserves and RiskBased Capital
299
Chapter 10 Immediate Variable Annuity Taxation
333
Chapter 11 Services and Fees
353
Chapter 12 Product Distribution
363
Chapter 13 Individual Immediate Variable Annuity Underwriting
411
Chapter 14 Legal Issues
421
Glossary
741
About the Author
743
Index to Notation
745
Subject Index
747
Copyright

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About the author (2006)

JEFFREY K. DELLINGER, a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries, has over twenty-five years of experience in the financial services sector. As President of Longevity Management Corporation, Mr. Dellinger advises institutions on retirement income optimization, products, and markets. Previously, Mr. Dellinger headed the Individual Annuity Profit Center at The Lincoln National Life Insurance Company, the third largest U.S. annuity writer. While at Lincoln, Mr. Dellinger designed every individual annuity product sold. Dellinger is a Phi Beta Kappa graduate of Indiana University, with a bachelor’s and master’s degree in mathematics.

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