International Adverse Selection in Life Insurance and Annuities

31 Pages Posted: 30 Jun 2006

See all articles by Olivia S. Mitchell

Olivia S. Mitchell

University of Pennsylvania - The Wharton School; University of Pennsylvania - The Wharton School, Pension Research Council; National Bureau of Economic Research (NBER)

David McCarthy

Imperial College Business School

Multiple version iconThere are 2 versions of this paper

Date Written: September 2003

Abstract

This paper evaluates the extent of adverse selection in life insurance and annuities in international markets, for both group and individual products. We also compare results with prior analyses of adverse selection in international annuity markets, focusing on the US, the UK, and Japan. Our results help assess the extent to which life insurers can hedge mortality exposure by writing both life insurance and annuities, and they may be used to determine a normal range for adverse selection in international insurance markets.

Suggested Citation

Mitchell, Olivia S. and McCarthy, David, International Adverse Selection in Life Insurance and Annuities (September 2003). Pension Research Council, Available at SSRN: https://ssrn.com/abstract=912297 or http://dx.doi.org/10.2139/ssrn.912297

Olivia S. Mitchell

University of Pennsylvania - The Wharton School ( email )

Philadelphia, PA 19104-6365
United States

University of Pennsylvania - The Wharton School, Pension Research Council ( email )

3302 Steinberg Hall-Dietrich Hall
3620 Locust Walk
Philadelphia, PA 19104-6302
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

David McCarthy

Imperial College Business School ( email )

South Kensington Campus
Room 312
London SW7 2AZ
United Kingdom

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