2 papers
q-fin.MF2015
Purchasing Term Life Insurance to Reach a Bequest Goal: Time-Dependent Case
Erhan Bayraktar, Virginia R. Young, David Promislow
We consider the problem of how an individual can use term life insurance to maximize the probability of reaching a given bequest goal, an important problem in financial planning. W…
q-fin.PR2008
Valuation of Mortality Risk via the Instantaneous Sharpe Ratio: Applications to Life Annuities
Erhan Bayraktar, Moshe Milevsky, David Promislow +1
We develop a theory for valuing non-diversifiable mortality risk in an incomplete market. We do this by assuming that the company issuing a mortality-contingent claim requires comp…