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Life Insurance Companies and Pension Funds

In: A Guide to Financial Institutions

Author

Listed:
  • Charles R. Geisst

    (Manhattan College)

Abstract

Two of the largest types of financial institutions are neither banks nor direct depository institutions. Many times, neither of these will immediately come to mind if the layman is asked to name a large sophisticated financial intermediary. The reason for this lapse is that both institutions devote themselves to a different type of savings and investment function than do banks or building associations. Life insurance companies and pension funds cater to another sort of financial need than do banks that serve as depositories for current needs. Both invest for the individual on a future basis; seeking to protect his future needs for wealth and protection rather than serve more immediate concerns covered by depository institutions.

Suggested Citation

  • Charles R. Geisst, 1988. "Life Insurance Companies and Pension Funds," Palgrave Macmillan Books, in: A Guide to Financial Institutions, chapter 5, pages 84-101, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-18807-9_6
    DOI: 10.1007/978-1-349-18807-9_6
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