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The Calculus Of Retirement Income - Financial Models For Pension Annuities And Life Insurance (Hardcover)
Loot Price: R1,422
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The Calculus Of Retirement Income - Financial Models For Pension Annuities And Life Insurance (Hardcover)
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This 2006 book introduces and develops the basic actuarial models
and underlying pricing of life-contingent pension annuities and
life insurance from a unique financial perspective. The ideas and
techniques are then applied to the real-world problem of generating
sustainable retirement income towards the end of the human
life-cycle. The role of lifetime income, longevity insurance, and
systematic withdrawal plans are investigated in a parsimonious
framework. The underlying technology and terminology of the book
are based on continuous-time financial economics by merging
analytic laws of mortality with the dynamics of equity markets and
interest rates. Nonetheless, the book requires a minimal background
in mathematics and emphasizes applications and examples more than
proofs and theorems. It can serve as an ideal textbook for an
applied course on wealth management and retirement planning in
addition to being a reference for quantitatively-inclined financial
planners.
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