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. Copyright 2004 The International Association for the Study of Insurance Economics.
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Article provided by The International Association for the Study of Insurance Economics in its journal The Geneva Papers.
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