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Money-Back Tontines for Retirement Decumulation: Neural-Network Optimization under Systematic Longevity Risk

Orozco, German Nova et al.
arXiv (All) · Papers
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68t0793e20portfolio-management
Money-back guarantees (MBGs) address bequest concerns in pooled retirement income products by returning the initial purchase price through withdrawals or, after early death, through a benefit to the member's beneficiaries or estate. We study the distinct actuarial problem created by adding an MBG to
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