Search

Modern life-care tontines

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000cab a2200000   4500</leader>
    <controlfield tag="001">MAP20220015073</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20220519104652.0</controlfield>
    <controlfield tag="008">220519e20220509esp|||p      |0|||b|spa d</controlfield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="a">MAP</subfield>
      <subfield code="b">spa</subfield>
      <subfield code="d">MAP</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">6</subfield>
    </datafield>
    <datafield tag="100" ind1="1" ind2=" ">
      <subfield code="0">MAPA20160014259</subfield>
      <subfield code="a">Hieber, Peter</subfield>
    </datafield>
    <datafield tag="245" ind1="1" ind2="0">
      <subfield code="a">Modern life-care tontines</subfield>
      <subfield code="c">Peter Hieber, Nathalie Lucas</subfield>
    </datafield>
    <datafield tag="520" ind1=" " ind2=" ">
      <subfield code="a">The tendency of insurance providers to refrain from offering long-term guarantees on investment or mortality risk has shifted attention to mutual risk pooling schemes like (modern) tontines, pooled annuities or group self annuitization schemes. While the literature has focused on mortality risk pooling schemes, this paper builds on the advantage of pooling mortality and morbidity risks, and their inherent natural hedge. We introduce a modern life-care tontine, which in addition to retirement income targets the needs of long-term care (LTC) coverage for an ageing population. In contrast to a classical life-care annuity, both mortality and LTC risks are shared within the policyholder pool by mortality and morbidity credits, respectively. Technically, we rely on a backward iteration to deduce the smoothed cashflows pattern and the separation of cash-flows in a fixed withdrawal and a surplus from the two types of risks. We illustrate our results using real life data, demonstrating the adequacy of the proposed tontine scheme.

</subfield>
    </datafield>
    <datafield tag="540" ind1=" " ind2=" ">
      <subfield code="a">La copia digital se distribuye bajo licencia "Attribution 4.0 International (CC BY 4.0)"</subfield>
      <subfield code="f"/>
      <subfield code="u">https://creativecommons.org/licenses/by/4.0</subfield>
      <subfield code="9">43</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080602437</subfield>
      <subfield code="a">Matemática del seguro</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080579258</subfield>
      <subfield code="a">Cálculo actuarial</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080549206</subfield>
      <subfield code="a">Tontinas</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080588953</subfield>
      <subfield code="a">Análisis de riesgos</subfield>
    </datafield>
    <datafield tag="700" ind1="1" ind2=" ">
      <subfield code="0">MAPA20220005326</subfield>
      <subfield code="a">Lucas, Nathalie</subfield>
    </datafield>
    <datafield tag="773" ind1="0" ind2=" ">
      <subfield code="w">MAP20077000420</subfield>
      <subfield code="g">09/05/2022 Volumen 52 Número 2 - mayo 2022 , P. 563-589</subfield>
      <subfield code="x">0515-0361</subfield>
      <subfield code="t">Astin bulletin</subfield>
      <subfield code="d">Belgium : ASTIN and AFIR Sections of the International Actuarial Association</subfield>
    </datafield>
  </record>
</collection>