Enhanced Annuities: Drivers and Barriers of Supply and Demand

Journal article
(Original article)


Publication Details

Author(s): Gatzert N, Klotzki U
Journal: Geneva Papers on Risk and Insurance-Issues and Practice
Publisher: Palgrave Macmillan
Publication year: 2016
Volume: 41
Journal issue: 1
Pages range: 53-77
ISSN: 1018-5895
Language: English


Abstract


Enhanced annuities pay higher pensions than standard annuities in case of a reduced life expectancy and are very prominent in the UK insurance market but not in other markets. The aim of this paper is to study drivers and barriers of supply and demand for enhanced annuities as well as potential market implications of their introduction, including implications for the standard immediate and deferred annuity markets, annuitization rates, and the so-called cannibalization effect, which may arise within the portfolio of standard annuities due to the enhanced annuity offering. The analysis is based on a comprehensive literature review and an empirical survey in the German life insurance market, which is also intended to offer insight for other industrialized countries with a similar situation in regard to the demographic development and an increasing need for private pensions.



FAU Authors / FAU Editors

Gatzert, Nadine Prof. Dr.
Lehrstuhl für Versicherungswirtschaft und Risikomanagement


How to cite

APA:
Gatzert, N., & Klotzki, U. (2016). Enhanced Annuities: Drivers and Barriers of Supply and Demand. Geneva Papers on Risk and Insurance-Issues and Practice, 41(1), 53-77. https://dx.doi.org/10.1057/gpp.2015.21

MLA:
Gatzert, Nadine, and Udo Klotzki. "Enhanced Annuities: Drivers and Barriers of Supply and Demand." Geneva Papers on Risk and Insurance-Issues and Practice 41.1 (2016): 53-77.

BibTeX: 

Last updated on 2018-06-08 at 02:10