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
Results 6-10 of 76
... bond funds that historically have together averaged an 8% return per year. Figure 1.6 shows the beginning-of-year (BOY) values. As a result, you assume an 8% return. An amortization table like that in Table 1.1 proves that annual end-of ...
... bonds, or mutual funds. The annuity or nonannuity accumulation vehicle may be either inside or outside the umbrella of a tax-qualified account such as an individual retirement account (IRA). There are justifications both for ...
... bonds maturing in the current year and bonds maturing in later years exactly replicate (i.e., cash-flow match) the projected annuity payouts plus administrative expenses plus profit plus taxes. Cash Flow Time FIGURE 3.2 Single Bond The ...
... bond portfolio looks like the graph in Figure 3.3. Such a declining pattern of cash flows is consistent with the ... bond might exactly match the level annuity outflows of a non-life-contingent fixed-period immediate annuity. Note that ...
... bonds that mature before they are needed to fund an annuity payout the prescribed liability stream could be fulfilled—then one might define the “optimal” portfolio to be other than a precise match. As the reinvestment rate is ...
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 |