With aging populations, the role of private insurance in financing late-in-life risks is likely to
grow. Yet, demand for long-term care insurance (LTCI) and life annuities (hereafter …

Using microeconomic data for the United Kingdom, we analyze the empirical determinants
of voluntary annuity market demand. We find that annuity market participation increases with …

This paper documents consumers' difficulty valuing life annuities. Using a purpose-built
experiment in the American Life Panel, we show that the prices at which people are willing …

How do, could, and should retirees draw down their financial savings? This article reviews
over 100 papers on this topic from the perspective of individuals, families, governments, and …

We introduce a new pension product that offers retirees the opportunity for a lifelong income
and a bequest for their estate. Based on a tontine mechanism, the product divides pension …

This study aims to determine the status of existing research on financial planning for
retirement. We used bibliometric analysis and content analysis to examine a sample of …

Annuities provide insurance against outliving one's wealth. Previous studies have indicated
that, for many households, the value of the longevity insurance should outweigh the …

This paper derives optimal lifecycle asset allocations for consumers who select work hours
and retirement ages given uncertain labor income and investment returns. These shocks …

Abstract This Special Issue of Insurance: Mathematics and Economics contains 16
contributions to the academic literature all dealing with longevity risk and capital markets …

A defined contribution pension plan allows consumption to be redistributed from the plan
member's working life to retirement in a manner that is consistent with the member's …