Chapter

The United States Longevity Insurance Market

Anthony Webb

in Securing Lifelong Retirement Income

Published in print May 2011 | ISBN: 9780199594849
Published online September 2011 | e-ISBN: 9780191729119 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199594849.003.0005
The United States Longevity Insurance Market

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This chapter documents the substantial decline in traditional sources of longevity insurance, and shows that published statistics on the individual annuity market greatly overstate its size and growth. It considers whether the decline in annuitization rates is a cause for concern. It then documents in more detail the structure, size, and pricing of the individual annuity market, and discusses product innovations. It concludes by discussing policy options for increasing rates of voluntary annuitization.

Keywords: United States; Social Security; annuitization; risk aversion; Health and Retirement Study; defined benefit; money's worth ratio; mortality; pensions

Chapter.  6623 words.  Illustrated.

Subjects: Pensions

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