| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5077092 | Insurance: Mathematics and Economics | 2012 | 17 Pages |
Abstract
⺠We minimize the probability of lifetime ruin in a market with commutable life annuities. ⺠For surrender charge large enough, the individual will not buy annuities unless she can cover all her consumption, the so-called safe level. ⺠For surrender charge small enough, the individual will buy annuities at wealth lower than this safe level.
Related Topics
Physical Sciences and Engineering
Mathematics
Statistics and Probability
Authors
Ting Wang, Virginia R. Young,