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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... initial and subsequent variable annuity benefits are determined. While individuals and their financial advisers may appreciate what a variable annuity can achieve in the way of risk mitigation and optimizing use of one's retirement ...
... initial benefit but the steeper the rise of future benefits. Similarly, if subaccount performance for the period is less than the benchmark return, benefits decrease. As with a fixed annuity, all forms of a variable annuity offer the ...
... initial amount of retirement assets to sustain him. He then determines from the chart how much he can withdraw at the beginning of each month so that his initial amount will be exactly dissipated at the end of the chosen time period ...
... initial-cost portfolio. For example, if one could purchase a nonmatching asset portfolio at lower cost—where even at a 0% reinvestment rate applied to bonds that mature before they are needed to fund an annuity payout the prescribed ...
... initial term structure of interest rates. Risk-averse investors will adopt a posture closer to (imperfect) immunization; that is, where DA I DL. Slightly less risk-averse investors will devise a “stop loss” active duration strategy that ...
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 |