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Life Annuities: Products, Guarantees, Basic Actuarial Models

Colleagues discussing ageing research

Ermanno Pitacco

These Lecture Notes aim at introducing technical and financial aspects of the life annuity products, with a special emphasis on the actuarial valuation of life annuity benefits. The text has been planned assuming as target readers:

  • advanced undergraduate and graduate students in Economics, Business and Finance;
  • advanced undergraduate students in Mathematics and Statistics, possibly aiming at attending, after graduation, actuarial courses at a master level;
  • professionals and technicians operating in insurance and pension areas, whose job may regard investments, risk analysis, financial reporting, and so on, hence implying communication with actuarial professionals and managers.