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Is Life Insurance a Human Capital Derivatives Business?

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  • Krzysztof Ostaszewski

Abstract

Life and disability insurance, as well as annuities, traditionally have been analyzed as products providing protection against random losses. This article proposes that these products can be viewed as derivative instruments created to address the uncertainties and inadequacies of an individual’s human capital, if human capital is viewed as a financial instrument. In short, life insurance (including disability insurance and annuities) is the business of human capital securitization.

Suggested Citation

  • Krzysztof Ostaszewski, 2003. "Is Life Insurance a Human Capital Derivatives Business?," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 26(1), pages 1-14.
  • Handle: RePEc:wri:journl:v:26:y:2003:i:1:p:1-14
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    Cited by:

    1. Russ, Meir, 2016. "The probable foundations of sustainabilism: Information, energy and entropy based definition of capital, Homo Sustainabiliticus and the need for a “new gold”," Ecological Economics, Elsevier, vol. 130(C), pages 328-338.
    2. Meir Russ & Bino Catasùs, 2014. "Editorial. Intellectual Capital and Management Control: Human Capital Valuation and other challenges," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2014(2), pages 5-21.
    3. Roger Ibbotson & Peng Chen & Moshe Milevsky & Xingnong Zhu, 2005. "Human Capital, Asset Allocation, and Life Insurance," Yale School of Management Working Papers amz2513, Yale School of Management, revised 01 Nov 2008.

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