The Handbook of Variable Income AnnuitiesIn-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. |
From inside the book
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... associated with assumption of these risks by insurers are met. State guaranty associations and their funds provide an additional safety net for fixed-income annuities, whereby any licensed insurer on the verge of trouble is aided to the ...
... associated with it is not free of riskless arbitrage opportunities. This notion will be explored in a later section on options. Volatility of bond price may be viewed as price risk. Since the greater the duration of a bond, the greater ...
... associated with blocks of such business to withstand a variety of future interest rate scenarios. To the extent an insurance company has assets and liabilities that are not equally interest sensitive (i.e., DA I DL), it incurs interest ...
... associated with the underlying investment fund as a percentage of fund assets and (2) daily asset charges (e.g., mortality and expense risk charge) at the variable annuity subaccount level. Formulaically: IL+CAB—EXR. Subaccount ...
... associated with any form of annuity option—life—contingent or non-life-contingent—that pays an initial $5 ,000 monthly benefit and runs for at least the period shown. IMMEDIATE. VARIABLE. ANNUITY. IIERSUS. SYSTEMATIC. WITHURAWALS. Immediate ...
Contents
1 | |
17 | |
21 | |
39 | |
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 |