Purchasing life insurance to reach a bequest goal
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DOI: 10.1016/j.insmatheco.2014.07.003
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- Erhan Bayraktar & David Promislow & Virginia Young, 2014. "Purchasing Life Insurance to Reach a Bequest Goal," Papers 1402.5300, arXiv.org, revised Jul 2014.
References listed on IDEAS
- Moshe A. Milevsky & Kristen S. Moore & Virginia R. Young, 2006. "Asset Allocation And Annuity‐Purchase Strategies To Minimize The Probability Of Financial Ruin," Mathematical Finance, Wiley Blackwell, vol. 16(4), pages 647-671, October.
- Richard, Scott F., 1975. "Optimal consumption, portfolio and life insurance rules for an uncertain lived individual in a continuous time model," Journal of Financial Economics, Elsevier, vol. 2(2), pages 187-203, June.
- Erhan Bayraktar & Virginia Young, 2013.
"Life Insurance Purchasing to Maximize Utility of Household Consumption,"
North American Actuarial Journal, Taylor & Francis Journals, vol. 17(2), pages 114-135.
- Erhan Bayraktar & Virginia R. Young, 2012. "Life Insurance Purchasing to Maximize Utility of Household Consumption," Papers 1205.5958, arXiv.org, revised Jun 2013.
- Wang, Ting & Young, Virginia R., 2012. "Maximizing the utility of consumption with commutable life annuities," Insurance: Mathematics and Economics, Elsevier, vol. 51(2), pages 352-369.
- Sid Browne, 1999. "Beating a moving target: Optimal portfolio strategies for outperforming a stochastic benchmark," Finance and Stochastics, Springer, vol. 3(3), pages 275-294.
- Sid Browne, 1997. "Survival and Growth with a Liability: Optimal Portfolio Strategies in Continuous Time," Mathematics of Operations Research, INFORMS, vol. 22(2), pages 468-493, May.
- William D. Sudderth & Ananda Weerasinghe, 1989. "Controlling a Process to a Goal in Finite Time," Mathematics of Operations Research, INFORMS, vol. 14(3), pages 400-409, August.
- Wang, Ting & Young, Virginia R., 2012. "Optimal commutable annuities to minimize the probability of lifetime ruin," Insurance: Mathematics and Economics, Elsevier, vol. 50(1), pages 200-216.
Citations
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Cited by:
- Erhan Bayraktar & S. David Promislow & Virginia R. Young, 2015.
"Purchasing Term Life Insurance to Reach a Bequest Goal: Time-Dependent Case,"
North American Actuarial Journal, Taylor & Francis Journals, vol. 19(3), pages 224-236, July.
- Erhan Bayraktar & Virginia R. Young & David Promislow, 2015. "Purchasing Term Life Insurance to Reach a Bequest Goal: Time-Dependent Case," Papers 1503.02237, arXiv.org.
- Bayraktar, Erhan & Young, Virginia R., 2016.
"Optimally investing to reach a bequest goal,"
Insurance: Mathematics and Economics, Elsevier, vol. 70(C), pages 1-10.
- Erhan Bayraktar & Virginia R. Young, 2015. "Optimally Investing to Reach a Bequest Goal," Papers 1503.00961, arXiv.org, revised May 2016.
- Fangyuan Dong & Nick Halen & Kristen Moore & Qinglai Zeng, 2019. "Efficient Retirement Portfolios: Using Life Insurance to Meet Income and Bequest Goals in Retirement," Risks, MDPI, vol. 7(1), pages 1-11, January.
- Huang, Huaxiong & Milevsky, Moshe A., 2016. "Longevity risk and retirement income tax efficiency: A location spending rate puzzle," Insurance: Mathematics and Economics, Elsevier, vol. 71(C), pages 50-62.
- Wei Han & Ping Wang & Hongjie Dong, 2020. "Influence of Egoistic and Altruistic Bequest Motives on the Willingness to Participate in Reverse Mortgages in China," Asian Economic Journal, East Asian Economic Association, vol. 34(4), pages 430-463, December.
- Angoshtari, Bahman & Bayraktar, Erhan & Young, Virginia R., 2015.
"Minimizing the expected lifetime spent in drawdown under proportional consumption,"
Finance Research Letters, Elsevier, vol. 15(C), pages 106-114.
- Bahman Angoshtari & Erhan Bayraktar & Virginia R. Young, 2015. "Minimizing the Expected Lifetime Spent in Drawdown under Proportional Consumption," Papers 1508.01914, arXiv.org, revised Aug 2015.
- Asaf Cohen & Virginia R. Young, 2015. "Minimizing Lifetime Poverty with a Penalty for Bankruptcy," Papers 1509.01694, arXiv.org.
- Erhan Bayraktar & David Promislow & Virginia Young, 2014. "Purchasing Term Life Insurance to Reach a Bequest Goal while Consuming," Papers 1412.2262, arXiv.org, revised Feb 2016.
- Landriault, David & Li, Bin & Li, Danping & Li, Dongchen, 2016. "A pair of optimal reinsurance–investment strategies in the two-sided exit framework," Insurance: Mathematics and Economics, Elsevier, vol. 71(C), pages 284-294.
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- Wang, Ting & Young, Virginia R., 2012. "Maximizing the utility of consumption with commutable life annuities," Insurance: Mathematics and Economics, Elsevier, vol. 51(2), pages 352-369.
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Keywords
Term life insurance; Whole life insurance; Bequest motive; Deterministic control; Non-forfeiture value;All these keywords.
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