Life Annuity Products and Their Guarantees.

Intro -- Foreword -- Table of contents -- Executive summary -- Key findings and conclusions -- Annuity product features and design -- Coherence in the design of the pension framework -- Encouragement of the demand for annuity products -- Ensuring the sustainability of annuity products -- Ensuring the suitability of annuity products for consumers -- Chapter 1 What is an annuity product? -- Criteria to define an annuity product -- Defining the scope of what types of income streams are considered to be annuity products -- Defining the types of products that are considered to be annuity products -- Structure and features of annuity products -- Table 1.1. Classification of annuity products -- Notes -- Chapter 2 Overview of the different types of annuity products -- Level/(de)escalating annuities -- Advanced life deferred annuities -- Enhanced annuities -- Inflation indexed annuities -- Participating life annuities -- Variable payout annuities -- Variable annuities -- Fixed indexed annuities -- Table 2.1. Most common annuity product by jurisdiction -- Notes -- References -- Chapter 3 The risks presented by annuity products and how they are managed -- Modern approaches to risk management -- Risks faced by annuity providers -- Drivers of the risk exposures of annuity products -- Table 3.1. Risk drivers and risk management tools for annuity providers by product type -- Risk management of annuity products -- Risk management of fixed payment annuities -- Risks posed by indexed payment annuities and how they are managed -- Figure 3.1. Illustrated evolution of annuity payments for a VPA beginning at age 65 -- Risks posed by retirement savings products with a guaranteed income option and how they are managed -- Figure 3.2. Illustration of guarantee forms -- Table 3.2. Risk exposures from variable annuity product design.

Table 3.3. Hedging strategies for variable annuities -- Box 3.1. Definitions of plain vanilla options -- Table 3.4. Risks hedged for variable annuities -- Figure 3.3. Illustration of delta hedging -- Notes -- References -- Chapter 4 Drivers of annuity product availability, design and sustainability -- The role of annuity products within the pension system -- Consumer demand: the trade-off between protection, flexibility and cost -- The framework and tools for managing risks to ensure the sustainability of annuity products -- Notes -- References -- Chapter 5 Ensuring suitable products for consumers -- Product awareness -- Box 5.1. Money's worth ratios -- Table 5.1. Money's worth ratios for selected annuity markets -- Product distribution -- Product disclosure -- The potential role of technology -- Notes -- References -- Chapter 6 Policy considerations with respect to annuity products -- Defining a common language -- Designing a coherent framework for retirement -- Keeping up with innovation: Ensuring sustainable and suitable annuity products -- Encouraging appropriate risk management -- Summary of policy considerations -- Note -- Glossary.

Chapter 1. What is an annuity product? Chapter 2. Overview of the different types of annuity products Chapter 3. The risks presented by annuity products and how they are managed Chapter 4. Drivers of annuity product availability, design and sustainability Chapter 5. Ensuring suitable products for consumers Chapter 6. Policy considerations with respect to annuity products.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.