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. |
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... Insurance Company Absorbs Risks 325 Risk Measures Aid in Capital Requirements 328 Risk Measures 328 Risk Measures and Economic Capital 329 CHAPTER 10 Immediate Variable Annuity Taxation 333 Immediate Variable Annuity Income Taxation 333 ...
... corporate officers, and even insurance company boards of directors (whose backgrounds and expertise often are outside the insurance realm)—may benefit from this book. Investment managers—whether they are individuals investing for ...
... insurance company has assets and liabilities that are not equally interest sensitive (i.e., DA I DL), it incurs interest rate risk. Surplus formulas are established to guard against interest rate risk to a specified level.6 The greater ...
... insurance company's assets will elevate more than its liabilities, increasing its net worth. Recall that the price versus interest rate relationship is nonlinear. The degree of nonlinearity is measured by a second derivative ...
... insurance company in exchange for a promise by the insurer to pay regular, periodic income guaranteed to last a lifetime (assuming the payout option chosen is life-contingent), although the level of that income is not guaranteed. With a ...
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 |