Tha Valuation of guaranteed lifelong withdrawal benefit options in variable annuity contracts and the impact of mortality risk

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      <subfield code="a">Tha Valuation of guaranteed lifelong withdrawal benefit options in variable annuity contracts and the impact of mortality risk</subfield>
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      <subfield code="a">In light of the growing importance of the variable annuities market, in this paper authors introduce a theoretical model for the pricing and valuation of guaranteed lifelong withdrawal benefit (GLWB) options embedded in variable annuity products. As the name suggests, this option offers a lifelong withdrawal guarantee, therefore, there is no limit on the total amount htat is withdrawn over the term of the policy vecause if the account value becomes zero while the insured is still alive, he or she continues to receive the guaranteed amount annually until death</subfield>
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      <subfield code="g">03/01/2011 Tomo 15 Número 1  - 2011 </subfield>
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