The Calculus of Retirement Income: Financial Models for Pension Annuities and Life Insurance,Used

The Calculus of Retirement Income: Financial Models for Pension Annuities and Life Insurance,Used

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SKU: SONG0521842581
UPC: 9780521842587
Brand: Cambridge University Press
Condition: Used
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This 2006 book introduces and develops the basic actuarial models and underlying pricing of lifecontingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the realworld problem of generating sustainable retirement income towards the end of the human lifecycle. 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 continuoustime 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 quantitativelyinclined financial planners.

⚠️ WARNING (California Proposition 65):

This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.

For more information, please visit www.P65Warnings.ca.gov.

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