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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... Present Value Distributions 283 Annuity Present Value Appraisals 289 Benefit of Investment versus Benefit of Survivorship 290 Rate of Return Methodologies 294 Rate of Return and Inflation 295 Deflation 297 Rate of Return and TaXes 298 ...
... present value to every other similarly situated person participating in the program. In that sense, every annuitant derives equal protective value. Each annuitant is assured of lifetime income and has transferred mortality risk that he ...
... present value of each such payment as a percent of the total present value of all payments. Macaulay used the yield to maturity of the bond to discount all payments. He thus defined duration (D) as: ” kCk nPn. fi+fi. D:% (3.1). k + n a, (1 ...
... present value at 5% of a payment of 1 at the beginning of the year (BOY) for 10 years. (It can be 1 dollar, 1 unit, etc.) Since every dollar behaves like every other dollar, we can work with a payment of 1 and know that if we want the ...
... value is $2.00 on the date the annuity commences, there will be $1,000/$2.00, or 500, annuity units paid on each ... present value and thus a lower payout rate per $1,000. By having used a 5% interest assumption, a lower present value ...
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 |