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- Title
INVESTMENT IMPLICATIONS OF THE ACTUARIAL DESIGN OF LIFE INSURANCE PRODUCTS.
- Authors
Hickman, James C.
- Abstract
The traditional design of life insurance products marketed in the United States has included level premiums graded by initial age, fixed dollar benefits, and relatively high withdrawal benefits. This design has certain implications on life insurance investments. Because of the long term and fixed dollar nature of life insurance liabilities, investments with similar characteristics are indicated. In recent years, marked with both price inflation and real economic growth, the purchasers of the products and services of life insurance companies have seemed to place less value on investment guarantees. A new family of products and services is being developed that will cause a shift in the investment objectives of life insurance companies.
- Subjects
LIFE insurance; PRODUCT design; PORTFOLIO management (Investments); LIFE insurance companies; SURETYSHIP &; guaranty
- Publication
Journal of Risk & Insurance, 1971, Vol 38, Issue 4, p571
- ISSN
0022-4367
- Publication type
Article
- DOI
10.2307/251571