Pricing and Hedging the Guaranteed Minimum Withdrawal Benefits in Variable Annuities
The Guaranteed Minimum Withdrawal Benefits (GMWBs) are optional riders provided by insurance companies in variable annuities. They guarantee the policyholders' ability to get the initial investment back by making periodic withdrawals regardless of the impact of poor market performance. With GMW...
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| Language: | en |
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2010
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| Online Access: | http://hdl.handle.net/10012/4990 |