lmpact of flexible periodic premiums on variable annuity guarantees

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<title>lmpact of flexible periodic premiums on variable annuity guarantees</title>
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<name type="personal" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20170005490">
<namePart>Cuí, Zhenyu</namePart>
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<name type="personal" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080650094">
<namePart>Vanduffel, Steven</namePart>
<nameIdentifier>MAPA20080650094</nameIdentifier>
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<genre authority="marcgt">periodical</genre>
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<dateIssued encoding="marc">2017</dateIssued>
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<abstract displayLabel="Summary">In this article, we study the fair fee of a flexible premium variable annuity (FPVA), in which the policyholder can choose to pay
periodic premiums during the accumulation phase instead of a single initial premium. We are able to express fair fees using a fast and
accurate approximation based on bounds on the price of the FPVA. We identify scenarios that are particularly costly for the insurer.
Our study could help insurers estimate the magnitude of typical underpricing when offering flexible-premium variable annuities with
the same fee as the corresponding single-premium variable annuity.</abstract>
<note type="statement of responsibility">Carole Bernard, Zhenyu Cuí, and Steven Vanduffel</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080551001">
<topic>Garantías</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080579258">
<topic>Cálculo actuarial</topic>
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<classification authority="">6</classification>
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<titleInfo>
<title>North American actuarial journal</title>
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<originInfo>
<publisher>Schaumburg : Society of Actuaries, 1997-</publisher>
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<identifier type="issn">1092-0277</identifier>
<identifier type="local">MAP20077000239</identifier>
<part>
<text>01/03/2017 Tomo 21 Número 1 - 2017 , p. 63-86</text>
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