Surprises in a Growing Market Niche: An Evaluation of the German Private Life Annuities Market

Posted: 12 Jul 2004

See all articles by Hans-Martin von Gaudecker

Hans-Martin von Gaudecker

University of Bonn - Economic Science Area; Netspar; Max Planck Society for the Advancement of the Sciences - Munich Center for the Economics of Aging (MEA)

Carsten Weber

University of Mannheim - Department of Economics

Abstract

High replacement rates from public old age insurance might lead to the belief that little room is left for private sector life annuities in Germany. Taking a closer look, we find a small market with a surprisingly large variety of products. Due to the recent pension reform and future ones to come the market is projected to grow substantially in the years to come. This paper describes the life annuity contracts available and determines their money's worth for different subgroups of the population.

Suggested Citation

von Gaudecker, Hans-Martin and Weber, Carsten, Surprises in a Growing Market Niche: An Evaluation of the German Private Life Annuities Market. Geneva Papers on Risk and Insurance: Issues and Practice, Vol. 29, No. 3, pp. 394-416, July 2004. Available at SSRN: https://ssrn.com/abstract=563419

Hans-Martin Von Gaudecker (Contact Author)

University of Bonn - Economic Science Area ( email )

Adenauerallee 24-42
D-53113 Bonn
Germany

Netspar ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Max Planck Society for the Advancement of the Sciences - Munich Center for the Economics of Aging (MEA) ( email )

Amalienstrasse 33
Munich, 80799
Germany

Carsten Weber

University of Mannheim - Department of Economics ( email )

D-68131 Mannheim
Germany

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