Determinants of the Stated Probability of Purchase for Longevity Insurance

被引：0
|
作者：
Michael A Guillemette
Terrance K Martin
Benjamin F Cummings
Russell N James
机构：
[1] University of Missouri,Department of Personal Financial Planning
[2] College of Business Administration,Department of Economics and Finance
[3] University of Texas Rio Grande Valley,Finance Department
[4] Erivan K. Haub School of Business,Department of Personal Financial Planning
[5] Saint Joseph’s University,undefined
[6] Texas Tech University,undefined
来源：
The Geneva Papers on Risk and Insurance - Issues and Practice | 2016年 / 41卷
关键词：
longevity insurance; deferred annuity; annuitisation;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
We study the determinants of the stated probability of purchase for a deferred annuity that pays out at age 80 or 85, which we reframe as “longevity insurance”, using the Survey of Household Financial and Risk Management. Our results indicate that younger cohorts and women are more likely to express a desire to purchase longevity insurance in the future. The stated probability of purchase for longevity insurance was lower for respondents with greater home equity and higher coefficients of relative risk aversion. Our results may be of particular interest to policymakers, annuity companies and retirement plan providers.
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页码：4 / 23
页数：19
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