City Research Online

Longevity Insurance Annuities

Blake, D. and Turner, J.A. (2014). Longevity Insurance Annuities. Benefits Quarterly, 30(1), pp. 39-47.


Recent U.S. Treasury Department proposals have focused attention on longevity insurance annuities. These are deferred annuities that begin payment at advanced older ages, such as the age of 82. While the United Kingdom has by far the world’s largest annuity market, and some insurance companies used to provide longevity insurance annuities, currently no companies provide these annuities. The main reason for the change is that proposed European Union regulations will require insurance companies to increase their reserves for these annuities in recognition that there is no asset available to effectively hedge the risk of unexpectedly large improvements in life expectancy.

Publication Type: Article
Subjects: H Social Sciences > HG Finance
Departments: Cass Business School > Finance
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