Life Annuities An Optimal Product for Retirement Income Moshe A Milevsky 9781934667569 Books
Download As PDF : Life Annuities An Optimal Product for Retirement Income Moshe A Milevsky 9781934667569 Books
This book provides a summary of research on life annuities, longevity insurance, and their role in the “optimal” retirement portfolio. It starts with an overview of institutional aspects, moves on to discuss valuation issues, and concludes with a comprehensive review of the scholarly literature.
Life Annuities An Optimal Product for Retirement Income Moshe A Milevsky 9781934667569 Books
The book was quite helpful. I found it to be a somewhat scholarly treatise on life annuities, but well written, full of information for the professional and non-professional, and not so dense I couldn't get through it. Milevsky includes some mathematics, but without the copious data he has access to from insurance companies he works with, several of the later equations are academic and could probably be glossed over without losing too much. I liked the scholarly tone of this book; Milevsky knows whereof he speaks and isn't merely a salesman parroting an insurance company pitch. After reading this, I have more confidence that I can evaluate life annuities for myself.And the price is free from Amazon for the Kindle edition. This could not be a better deal.
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Tags : Life Annuities: An Optimal Product for Retirement Income [Moshe A. Milevsky] on Amazon.com. *FREE* shipping on qualifying offers. This book provides a summary of research on life annuities, longevity insurance, and their role in the “optimal” retirement portfolio. It starts with an overview of institutional aspects,Moshe A. Milevsky,Life Annuities: An Optimal Product for Retirement Income,Research Foundation of CFA Institute,1934667560,BUSINESS & ECONOMICS General
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Life Annuities An Optimal Product for Retirement Income Moshe A Milevsky 9781934667569 Books Reviews
The author writes well and the subject coverage was very comprehensive.
Explains in detail how annuities work and how to calculate their value and decide if a particular one is a good deal. If you really want the how and why (and equations) of annuities this is the book for you. Writing style is very clear and presents the material in an interesting way.
Superb book. It provides an excellent perspective with considerable analysis to assist anyone seriously considering
the purchase of an annuity. After reading the book and discussing its contents with some friends with expertise
in finance I concluded that this was the best source of information about annuities that I have been able to read.
I highly recommend it to anyone who is making financial plans for their retirement years.
This is a very good book by an accomplished scholar in the field. You should also read "Annuities for Dummies" by Kerry Pechter, which covers other types of annuities as well as life annuities. Avoid "John Olsen's Guide to Annuities for the Consumer."
The author explains annuities in a non-technical manner that can be understood by anyone. He explains the advantages and disadvantages and history of annuities. He uses sample annuity quotes to demonstrate how much monthly benefit can typically be purchased from a financially strong insurer. A must-read for anyone doing retirement planning, either before or after they have retired. I am using this as a reference book for a course I will teach this winter.
Just what I needed. This slim volume has only four chapters, and the one on scholarly literature is strictly an optional read for the average person who is merely trying to get the lay of the land on annuities. The question and answer format wasn't really to my taste, but that's just me. YMMV. I was quite interested in shifting retirement funds into annuities before reading this book. Now I am not, for one reason current low interest rates, which are in turn reflected in low annuity payout rates. That was an important bit of information I learned from this book.
This book discusses the math of hedging an investment portfolio with longevity insurance aka a deferred life-only annuity. I did work through some of the equations using a real quote. Based on this info, and quotes from some insurance companies I decided to buy.
Between the time I got the quotes and when I tried to buy, the volatility in the bond market (to many Greeks having parties) had drastically changed the IRR (Internal Rate of Return) available. What I can get now is about half of what it was a month earlier. But when interest rates go up a bit, I plan to re-read this book, and get some fresh quotes.
Be aware that there are many financial products out there that may be called by the name "Annuity" but they often have little to do with each other. Read Moshe Milevsky's book to understand more.
The book was quite helpful. I found it to be a somewhat scholarly treatise on life annuities, but well written, full of information for the professional and non-professional, and not so dense I couldn't get through it. Milevsky includes some mathematics, but without the copious data he has access to from insurance companies he works with, several of the later equations are academic and could probably be glossed over without losing too much. I liked the scholarly tone of this book; Milevsky knows whereof he speaks and isn't merely a salesman parroting an insurance company pitch. After reading this, I have more confidence that I can evaluate life annuities for myself.
And the price is free from for the edition. This could not be a better deal.
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