Gatzert N, Klotzki U (2016)
Publication Language: English
Publication Type: Journal article, Original article
Publication year: 2016
Publisher: Palgrave Macmillan
Book Volume: 41
Pages Range: 53-77
Journal Issue: 1
DOI: 10.1057/gpp.2015.21
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.
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.
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