{"product_id":"the-handbook-of-variable-income-annuities-isbn-9780471733829","title":"The Handbook of Variable Income Annuities","description":"\u003cb\u003eIn-depth coverage of variable income annuities\u003c\/b\u003e  \u003cp\u003eWith trillions of dollars in retirement savings assets, the tens of millions of Americans on the precipice of retirement need to convert these savings into retirement income. The fact that variable income annuities (VIAs) generate maximum lifetime income with zero probability of outliving it has spurred the need for more information about VIAs. \u003ci\u003eThe Handbook of Variable Income Annuities\u003c\/i\u003e is by far the most comprehensive source of information on this topic. This book thoroughly describes the most important principles of optimal asset liquidation and demystifies VIA mechanics, so readers can gain a high comfort level with this important financial instrument. Interestingly and clearly, The \u003ci\u003eHandbook of Variable Income Annuities\u003c\/i\u003e explains the mathematical pricing of variable income annuities, expected rates of return, taxation, product distribution, legal aspects, and much more.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJeffrey K. Dellinger\u003c\/b\u003e (Fort Wayne, IN), a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries, has over 25 years experience in the financial services sector. He advises institutions on retirement income optimization, products, and markets.\u003c\/p\u003e  Preface.  \u003cp\u003eOverview.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1:\u003c\/b\u003e \u003cb\u003eRetirement Income Basics.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Game.\u003c\/p\u003e \u003cp\u003eYour Retirement.\u003c\/p\u003e \u003cp\u003eSelf-Management.\u003c\/p\u003e \u003cp\u003eFixed Annuities.\u003c\/p\u003e \u003cp\u003eThe Game Revisited.\u003c\/p\u003e \u003cp\u003eFixed Annuities Revisited.\u003c\/p\u003e \u003cp\u003eVariable Annuities.\u003c\/p\u003e \u003cp\u003eShortcoming of Simplified Retirement Income Projections.\u003c\/p\u003e \u003cp\u003eShortcomings of Traditional Retirement Income Approach.\u003c\/p\u003e \u003cp\u003eRetirement Income Basics Summary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Annuity Categorization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDeferred versus Immediate Annuities.\u003c\/p\u003e \u003cp\u003eLife-Contingent versus Non-Life-Contingent Annuities.\u003c\/p\u003e \u003cp\u003eTax-Qualified versus Non-Tax-Qualified Annuities.\u003c\/p\u003e \u003cp\u003eSummary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Immediate Fixed Annuity Mechanics (Non-Life-Contingent).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eApproach.\u003c\/p\u003e \u003cp\u003eFixed Annuity Payout.\u003c\/p\u003e \u003cp\u003eImmediate Fixed Annuity Asset-Liability Management.\u003c\/p\u003e \u003cp\u003eDuration.\u003c\/p\u003e \u003cp\u003eDuration Example.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Immediate Variable Annuity Mechanics (Non-Life-Contingent).\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eApproach.\u003c\/p\u003e \u003cp\u003eAnnuity Units.\u003c\/p\u003e \u003cp\u003eVarying the AIR.\u003c\/p\u003e \u003cp\u003eVolatility of Variable Annuity Income.\u003c\/p\u003e \u003cp\u003eImmediate Variable Annuity versus Systematic Withdrawals.\u003c\/p\u003e \u003cp\u003eReverse Dollar Cost Averaging.\u003c\/p\u003e \u003cp\u003eOwner Control after IVA Purchase.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Annuity Payout Options.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory.\u003c\/p\u003e \u003cp\u003eAnnuity Options.\u003c\/p\u003e \u003cp\u003eConsiderations in Selecting an Annuity Option.\u003c\/p\u003e \u003cp\u003eImmediate Variable Annuity Prospects.\u003c\/p\u003e \u003cp\u003eValue Equivalence of Annuity Options.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Annuitant Populations and Annuity Present Values.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCategorization and Characteristics.\u003c\/p\u003e \u003cp\u003ePopulation Mathematics.\u003c\/p\u003e \u003cp\u003eAnnuity Mathematics (Life-Contingent).\u003c\/p\u003e \u003cp\u003eAnnuity Mathematics (Non-Life-Contingent).\u003c\/p\u003e \u003cp\u003eAnnuity Mathematics II (Life-Contingent).\u003c\/p\u003e \u003cp\u003eAlternate Derivation of Approximation Formula for Present Value of Annuities Payable More Frequently than Annually.\u003c\/p\u003e \u003cp\u003eContinuous Life-Contingent Annuities.\u003c\/p\u003e \u003cp\u003eVarying Life-Contingent Annuities .\u003c\/p\u003e \u003cp\u003ePopulation Theory.\u003c\/p\u003e \u003cp\u003eMortality Improvement.\u003c\/p\u003e \u003cp\u003eThe Aging Process.\u003c\/p\u003e \u003cp\u003eAging Theories, Biomarkers, and Telomeres.\u003c\/p\u003e \u003cp\u003eForce of Mortality.\u003c\/p\u003e \u003cp\u003eMortality Laws.\u003c\/p\u003e \u003cp\u003eMortality Tables.\u003c\/p\u003e \u003cp\u003eMortality Table Construction.\u003c\/p\u003e \u003cp\u003eConsiderations in Mortality Table Selection.\u003c\/p\u003e \u003cp\u003eFormula-Based Mortality Tables.\u003c\/p\u003e \u003cp\u003eLaw of Large Numbers.\u003c\/p\u003e \u003cp\u003eLife Expectancy.\u003c\/p\u003e \u003cp\u003eAge Distribution Histograms.\u003c\/p\u003e \u003cp\u003eMortality Table as Survivorship Model.\u003c\/p\u003e \u003cp\u003eStationary Population.\u003c\/p\u003e \u003cp\u003eMultilife Annuities.\u003c\/p\u003e \u003cp\u003eLast Survivor Annuities.\u003c\/p\u003e \u003cp\u003eContingent Annuities.\u003c\/p\u003e \u003cp\u003eReversionary Annuities.\u003c\/p\u003e \u003cp\u003eLast-Survivor Annuity with Pop-Up Provision.\u003c\/p\u003e \u003cp\u003eIncreasingly Important Concept in Tough Economic Times.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Immediate Variable Annuity Subaccounts.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview of Subaccounts.\u003c\/p\u003e \u003cp\u003eTypology of Variable Annuity Subaccounts.\u003c\/p\u003e \u003cp\u003eNumber of Subaccounts and Considerations in Subaccount Selection.\u003c\/p\u003e \u003cp\u003eModern Portfolio Theory.\u003c\/p\u003e \u003cp\u003eCapital Asset Pricing Theory.\u003c\/p\u003e \u003cp\u003eTotal Market Risk versus Security-Specific Risk.\u003c\/p\u003e \u003cp\u003eRandom Walk.\u003c\/p\u003e \u003cp\u003eInvestment Risk.\u003c\/p\u003e \u003cp\u003eAcademic Research and Its Practical Implications for Retirement Income.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Rate of Return.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefinition.\u003c\/p\u003e \u003cp\u003eEarly Deaths and Late Deaths.\u003c\/p\u003e \u003cp\u003eAnnuiland Example.\u003c\/p\u003e \u003cp\u003eRate of Return Example Using Realistic Mortality Rates.\u003c\/p\u003e \u003cp\u003eAnnuity Present Value Distributions.\u003c\/p\u003e \u003cp\u003eAnnuity Present Value Appraisals.\u003c\/p\u003e \u003cp\u003eBenefit of Investment versus Benefit of Survivorship.\u003c\/p\u003e \u003cp\u003eRate of Return Methodologies.\u003c\/p\u003e \u003cp\u003eRate of Return and Inflation.\u003c\/p\u003e \u003cp\u003eDeflation.\u003c\/p\u003e \u003cp\u003eRate of Return and Taxes.\u003c\/p\u003e \u003cp\u003eChapter 9: Reserves and Risk-Based Capital.\u003c\/p\u003e \u003cp\u003eReserves.\u003c\/p\u003e \u003cp\u003eRisk-Based Capital.\u003c\/p\u003e \u003cp\u003eReserve Laws and Guidelines.\u003c\/p\u003e \u003cp\u003eMortality Adjustments.\u003c\/p\u003e \u003cp\u003eImmediate Variable Annuity Reserve Calculations.\u003c\/p\u003e \u003cp\u003eReserve Effect Introduced by Offering Multiple Subaccounts.\u003c\/p\u003e \u003cp\u003eUse of Statutory Immediate Variable Annuity Reserves in Product Design.\u003c\/p\u003e \u003cp\u003eSubstandard Annuity Reserves.\u003c\/p\u003e \u003cp\u003eInsurance Company Absorbs Risks.\u003c\/p\u003e \u003cp\u003eRisk Measures Aid in Capital Requirements.\u003c\/p\u003e \u003cp\u003eRisk Measures.\u003c\/p\u003e \u003cp\u003eRisk Measures and Economic Capital.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Immediate Variable Annuity Taxation.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImmediate Variable Annuity Income Taxation.\u003c\/p\u003e \u003cp\u003eUse of Immediate Annuities to Avoid 10% Penalty Tax on Premature Distributions.\u003c\/p\u003e \u003cp\u003eEstate Taxation.\u003c\/p\u003e \u003cp\u003eGift Taxation.\u003c\/p\u003e \u003cp\u003ePremium Tax.\u003c\/p\u003e \u003cp\u003eDAC Tax.\u003c\/p\u003e \u003cp\u003eTax Incentives.\u003c\/p\u003e \u003cp\u003eChapter 11: Services and Fees.\u003c\/p\u003e \u003cp\u003eService Features.\u003c\/p\u003e \u003cp\u003eProduct Fees and Charges.\u003c\/p\u003e \u003cp\u003eInsurer Perspective: Variable Income Annuity Expenses.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Product Distribution.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancial Advisers.\u003c\/p\u003e \u003cp\u003eDistribution Chain.\u003c\/p\u003e \u003cp\u003eIVA Pricing Optimization Process.\u003c\/p\u003e \u003cp\u003eWholesalers.\u003c\/p\u003e \u003cp\u003eSample IVA Wholesaling Story.\u003c\/p\u003e \u003cp\u003eUnbundling.\u003c\/p\u003e \u003cp\u003eIVA Illustrations.\u003c\/p\u003e \u003cp\u003eBuyer Demographics.\u003c\/p\u003e \u003cp\u003eThree-Legged Stool.\u003c\/p\u003e \u003cp\u003eLooking to the Future.\u003c\/p\u003e \u003cp\u003eComparison Indexes and Disclosure.\u003c\/p\u003e \u003cp\u003eUncertainty.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Individual Immediate Variable Annuity Underwriting.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStandard Life Underwriting.\u003c\/p\u003e \u003cp\u003eSubstandard Life Underwriting.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Legal Issues.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnisex Rates.\u003c\/p\u003e \u003cp\u003eSeparate Account Insulation.\u003c\/p\u003e \u003cp\u003eTontines.\u003c\/p\u003e \u003cp\u003eNonforfeiture Laws.\u003c\/p\u003e \u003cp\u003eVariable Annuity Contract.\u003c\/p\u003e \u003cp\u003eIVA Contract Provisions.\u003c\/p\u003e \u003cp\u003eIVA Contract Administration.\u003c\/p\u003e \u003cp\u003eSuitability Questionnaire.\u003c\/p\u003e \u003cp\u003eCompliance Costs.\u003c\/p\u003e \u003cp\u003eMarket Conduct.\u003c\/p\u003e \u003cp\u003eIntellectual Property.\u003c\/p\u003e \u003cp\u003ePartial Annuitization.\u003c\/p\u003e \u003cp\u003ePrivacy.\u003c\/p\u003e \u003cp\u003eStatus of Immediate Annuities in Creditor Attachment and Assistance Program Qualification.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Securities Law.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFederal Securities Law.\u003c\/p\u003e \u003cp\u003eState Securities Law.\u003c\/p\u003e \u003cp\u003eOrganizational Structures of Variable Annuity Issuers.\u003c\/p\u003e \u003cp\u003eAdministrative Impacts.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Forms of Insurance and Insurers.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInsurance versus Gambling.\u003c\/p\u003e \u003cp\u003eUtility Theory.\u003c\/p\u003e \u003cp\u003ePrivate Insurance versus Social Insurance.\u003c\/p\u003e \u003cp\u003eDefined Benefit Pension Plans.\u003c\/p\u003e \u003cp\u003eTypes of Insurance Organizations.\u003c\/p\u003e \u003cp\u003eIVA Company Organizational Structure.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: IVA Business Value to Annuity Company.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSample Model.\u003c\/p\u003e \u003cp\u003eExample.\u003c\/p\u003e \u003cp\u003eInterplay of Pricing, Reserving, and Risk-Based Capital.\u003c\/p\u003e \u003cp\u003eImmediate Annuity Value Creation.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: Product Development Trends.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProduct Variations.\u003c\/p\u003e \u003cp\u003ePayout Floor Guarantees.\u003c\/p\u003e \u003cp\u003eAn Introductory Lesson on Options.\u003c\/p\u003e \u003cp\u003eLiquidity.\u003c\/p\u003e \u003cp\u003eIncome Stabilization.\u003c\/p\u003e \u003cp\u003eOther Product Development Possibilities.\u003c\/p\u003e \u003cp\u003eComments on Product Variations.\u003c\/p\u003e \u003cp\u003eStochastic Modeling of Mortality.\u003c\/p\u003e \u003cp\u003eLife Annuity Mortality Risk Securitization.\u003c\/p\u003e \u003cp\u003eProprietary Products.\u003c\/p\u003e \u003cp\u003eAnnuity Writers’ Strategic Bases of Competition.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Conclusion.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendixes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eQuotable Wisdom Regarding Longevity.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eNotes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eGlossary.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAbout the Author.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIndex to Notation.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSubject Index.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJEFFREY K. DELLINGER,\u003c\/b\u003e a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries, has over twenty-five years of experience in the financial services sector. As President of Longevity Management Corporation, Mr. Dellinger advises institutions on retirement income optimization, products, and markets. Previously, Mr. Dellinger headed the Individual Annuity Profit Center at The Lincoln National Life Insurance Company, the third largest U.S. annuity writer. While at Lincoln, Mr. Dellinger designed every individual annuity product sold. Dellinger is a Phi Beta Kappa graduate of Indiana University, with a bachelor’s and master’s degree in mathematics.\u003c\/p\u003e   \u003cp\u003eVariable income annuities meet a very real need. Their insurance element guarantees an \u003ci\u003einexhaustible lifetime income\u003c\/i\u003e at the maximum level possible, superior to all alternatives. Their investment element lets annuity owners invest in the asset class that provides the greatest opportunity for \u003ci\u003eretirement income that grows faster than inflation.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Handbook of Variable Income Annuities\u003c\/i\u003e is by far the most comprehensive source of information on this most important, most timely financial concern in America today—how to optimally receive retirement income. Spend too much or live too long and you’re destitute. Live off just the interest leaving the principal untouched, and you’ve unnecessarily reduced your standard of living. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Handbook of Variable Income Annuities\u003c\/i\u003e helps you become comfortable with your hugely important retirement income decisions. You’ll be able to “see the DNA” of these retirement income arrangements. Novices and experts alike will understand why these offer retirement income security superior to what any individual—no matter how well educated or investment savvy—can achieve alone. \u003c\/p\u003e\u003cp\u003eMany disciplines—mathematics, investments,law, demography, biology, economics, taxation, marketing, distribution, psychology—affect variable income annuities, and they are brought together in this vital book. In a clear and straightforward manner, this book describes the most important principles of optimal asset liquidation through topics that include: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eRetirement income approaches\u003c\/li\u003e \u003cli\u003eForms of annuities\u003c\/li\u003e \u003cli\u003eInvestment subaccounts\u003c\/li\u003e \u003cli\u003eRates of return\u003c\/li\u003e \u003cli\u003eLaw and taxation\u003c\/li\u003e \u003cli\u003eSales and product distribution\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eFewer defined benefit pension plans, uncertainty over Social Security, greater reliance on turning one’s IRA and 401(k) balances into income, inadequate retirement savings, and lengthier retirements all prompt a greater interest in variable income annuities. \u003c\/p\u003e\u003cp\u003eVariable income annuities genuinely offer you and billions of people around the globe the opportunity to enjoy a more financially secure, worry-free experience during the final decades of life—free from anxiety about outliving your wealth, free to control the asset classes in which you invest, and free from having to be your own personal pension administrator. Filled with in-depth insight and expert advice, \u003ci\u003eThe Handbook of Variable Income Annuities\u003c\/i\u003e can help you understand and implement this important financial instrument.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990255059173,"sku":"NP9780471733829","price":200.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780471733829.jpg?v=1761787083","url":"https:\/\/k12savings.com\/products\/the-handbook-of-variable-income-annuities-isbn-9780471733829","provider":"K12savings","version":"1.0","type":"link"}