[Download] ~ Survivor Bonds: A Comment on Blake and Burrows (David Blake and William Burrows' Article: Survivor Bonds: Helping to Hedge Mortality Risk) ~ by Journal of Risk and Insurance ~ Book PDF Kindle ePub Free
eBook details
- Title: Survivor Bonds: A Comment on Blake and Burrows (David Blake and William Burrows' Article: Survivor Bonds: Helping to Hedge Mortality Risk)
- Author : Journal of Risk and Insurance
- Release Date : January 01, 2003
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 293 KB
Description
ABSTRACT This article offers a critical assessment of the "survivor bonds" (SBs) proposal recently put forward by Blake and Burrows, which calls for the government to issue bonds whose coupon payments are contingent on the proportions of retirees surviving to particular ages. It suggests that the proposal has considerable merit and discusses the circumstances in which SBs would be useful risk management tools for insurance companies. It also discusses alternatives such as reinsurance, hedging with life contracts, dynamic hedging, and other forms of survivor derivative. Finally, it evaluates and rejects the argument that SBs should be issued by the state.