The Implied longevity yield : a note on developing an index for life annuities

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<title>Implied longevity yield : a note on developing an index for life annuities</title>
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<title>The Journal of risk and insurance</title>
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<namePart>Milevsky, Moshe A.</namePart>
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<abstract>I develop an index for tracking the dynamic behavior of life (pension) annuity payots over time, based on the concept of self-annuitization. Our implied longevity yield (ILY) value is defined equal to the internal rate of return (IRR) over a fixed deferral period that an individual would have to earn on their investable wealth if they decided to self-annuitize using a systematic with drawal plan</abstract>
<note type="statement of responsibility">Moshe A. Milevsky</note>
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<text>Volume 72, number 2, June 2005 ;  p. 301-320</text>
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