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Death Benefits, Refunds and Covenants

In: How to Build a Modern Tontine

Author

Listed:
  • Moshe Arye Milevsky

Abstract

This chapter implements a design feature in which investors in the modern tontine are assured they will be made whole if they happen to die prior to receiving their original investment back in periodic payments. This is the symmetric equivalent of a cash-refund income annuity, which incidentally is the most popular rider in the US market.

Suggested Citation

  • Moshe Arye Milevsky, 2022. "Death Benefits, Refunds and Covenants," Future of Business and Finance, in: How to Build a Modern Tontine, chapter 5, pages 61-79, Springer.
    • Handle: RePEc:spr:fuobcp:978-3-031-00928-0_5
    DOI: 10.1007/978-3-031-00928-0_5
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