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Farmland Backed Annuities: A New Shelter for Aged FarmersChangki KimKorea University Business School (KUBS) Eyunghee KimKorea University Business School (KUBS) Seungyoung Jeongaffiliation not provided to SSRN April 29, 2011 Abstract: Aging population and the resulting old age income shortage has come to the fore in many countries around the globe. In response, farmland-backed annuities (FBA) that liquidize farmland assets to provide living income to aged farmers have been proposed and instituted by Korean government. We aim to construct a suitable pricing model for FBA and find optimum structure for the product. Suggestions on designing FBA to meet various needs of aged-farmers follow. We also provide risk-profit profile for annuitants, annuity issuers, and reinsurers, respectively.
Number of Pages in PDF File: 27 Keywords: Farmland, Annuities, Longevity Risk, Aged Farmers, Reverse Mortgage JEL Classification: G22, J14, J17 working papers seriesDate posted: May 2, 2011Suggested CitationContact Information
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