Financial Education and Annuities [E-Book] / Jeffrey R. Brown
Life annuities – financial products that help individuals convert a lump-sum of wealth into a guaranteed life-long income stream – have an important role to play in providing a secure source of retirement income. Because annuities provide valuable insurance against longevity risk, much of the theore...
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Full text |
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Personal Name(s): | Brown, Jeffrey R.. |
Imprint: |
Paris :
OECD Publishing,
2009
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Physical Description: |
44 p. |
Note: |
englisch |
DOI: |
10.1787/gen_papers-v2008-art20-en |
Keywords: |
Economics |
Life annuities – financial products that help individuals convert a lump-sum of wealth into a guaranteed life-long income stream – have an important role to play in providing a secure source of retirement income. Because annuities provide valuable insurance against longevity risk, much of the theoretical work in economics suggests that life annuities ought to comprise a large share of the retirement portfolios of most households. Yet around the world, voluntary annuity markets remain small. |