@techreport{Zhou-Richter2011Life,
abstract = {A life care annuity is a bundled insurance product comprised of a life annuity and long-term care insurance. Some recent studies find the two risks-longevity risk and long-term care risk-to be opposing and thus life care annuities advantageous in regard to pooling the two risks. Based on empirical data, this study discoversin contrast to previous work-a positive correlation between the two risks and the presence of adverse selection in the life care annuity market. We also address the pricing risk and solvency risk insurance companies face when providing life care annuities.},
address = {Frankfurt am Main},
author = {Tian Zhou-Richter and Helmut Gr\"{u}ndl},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {330; Long-term care insurance; Annuities; Adverse Selection; Risk Management; Lebensversicherung; Pflegeversicherung; Adverse Selektion; Versicherungstechnisches Risiko; Theorie},
language = {eng},
number = {04/11},
publisher = {International Center for Insurance Regulation, House of Finance, Goethe University},
title = {Life care annuities: Trick or treat for insurance companies?},
type = {ICIR Working Paper Series},
url = {http://hdl.handle.net/10419/64126},
year = {2011}
}
