Browsing Mathematics (Faculty of) by Author "Marshall, Claymore"
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Financial Risk Management of Guaranteed Minimum Income Benefits Embedded in Variable Annuities
Marshall, Claymore (University of Waterloo, 2011-08-29)A guaranteed minimum income benefit (GMIB) is a long-dated option that can be embedded in a deferred variable annuity. The GMIB is attractive because, for policyholders who plan to annuitize, it offers protection against ...