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Annuitization behavior : tax incentives vs. product design

Recurso electrónico / electronic resource
MARC record
Tag12Value
LDR  00000cab a2200000 4500
001  MAP20140046027
003  MAP
005  20141209164423.0
008  141205e20140901esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎6
1001 ‎$0‎MAPA20100039014‎$a‎Kling, Alexander
24510‎$a‎Annuitization behavior‎$b‎: tax incentives vs. product design‎$c‎Alexander Kling, Andreas Richter, Jochen Ruß
520  ‎$a‎We analyze and compare the impact of tax incentives and of introducing enhanced annuities on annuitization behavior considering heterogeneity among the insured. We find that tax incentives for annuitization result in a significant increase of the portion of people who should annuitize and also an increase of the insurer's profit since less healthy individuals also annuitize, i.e. adverse selection is reduced. However, the problem that different insured receive a different value for money is even increased by tax incentives. If enhanced annuities are introduced, the percentage of insured who should annuitize further increases. Adverse selection is further reduced and the differences in value for money from annuitizing shrink.
700  ‎$0‎MAPA20110023690‎$a‎Richter, Andreas
7001 ‎$0‎MAPA20140026906‎$a‎Ruß, Jochen
7730 ‎$w‎MAP20077000420‎$t‎Astin bulletin‎$d‎Belgium : ASTIN and AFIR Sections of the International Actuarial Association‎$x‎0515-0361‎$g‎01/09/2014 Volumen 44 Número 3 - septiembre 2014