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

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<title>Tha Valuation of guaranteed lifelong withdrawal benefit options in variable annuity contracts and the impact of mortality risk</title>
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<namePart>Haberman, Steven</namePart>
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<abstract displayLabel="Summary">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suggests, this option offers a lifelong withdrawal guarantee, therefore, there is no limit on the total amount htat is withdrawn over the term of the policy vecause if the account value becomes zero while the insured is still alive, he or she continues to receive the guaranteed amount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</abstract>
<note type="statement of responsibility">Gabriella Piscopo, Steven Haberman</note>
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<topic>Análisis de riesgos</topic>
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<topic>Mortalidad</topic>
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<topic>Longevidad</topic>
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<title>North American actuarial journal</title>
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<publisher>Schaumburg : Society of Actuaries, 1997-</publisher>
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<identifier type="issn">1092-0277</identifier>
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<text>03/01/2011 Tomo 15 Número 1  - 2011 </text>
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