Measuring the performance of the secondary market for life insurance policies

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<dc:creator>Giaccotto, Carmelo</dc:creator>
<dc:creator>Golee, ]oseph</dc:creator>
<dc:creator>Schmutz, Bryan P.</dc:creator>
<dc:date>2017-03-01</dc:date>
<dc:description xml:lang="es">Sumario: We construct an index of life insurance policies purchased in the secondary market by viatical and life settlement companies. Using the repeat sales method to measure returns over our 19932009 sample period, we find that policy returns average about 8 percent annually compared to 5.5 percent for the S&P 500 and 7 percent for corporate bonds, but they are twice as volatile as the S&P and four times as volatile as bonds. Nevertheless, because the index return is relatively uncorrelated with stock or bond returns, life insurance policies make attractive additions to well-diversified portfolios. </dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/159595.do</dc:identifier>
<dc:language>spa</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Seguro de vida</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Measuring the performance of the secondary market for life insurance policies</dc:title>
<dc:relation xml:lang="es">En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 01/03/2017 Volumen 84 Número 1 - marzo 2017 , p. 126-151</dc:relation>
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