Life Markets

A complete guide to longevity finance As the Baby Boomer population continues to age and the need for the securitization of life insurance policies increases, more financial institutions are looking towards longevity trading as a solution. Consequently, there is now a need for innovative financial products and strategies that have the ability to hedge longevity exposure for pension funds, reinsurance companies, and governments. These products and strategies are currently being developed with the use of life settlements. Here, author Vishaal Bhuyan provides a complete guide to this burgeoning sector. In Life Markets, Bhuyan and a team of expert contributors from leading firms offer an extensive look at how to trade life settlements. Provides practical guidance to the growing field of longevity finance Outlines the innovative financial products that are populating this field Highlights a safe haven for investors seeking returns in troubled times Covering everything from the history of life settlements to making a transaction-pricing, service providers, exchanges, and more-this book contains extensive coverage of the many issues surrounding longevity finance.

A complete guide to longevity financeAs the Baby Boomer population continues to age and the need forthe securitization of life insurance policies increases, morefinancial institutions are looking towards longevity trading as asolution. Consequently, there is now a need for innovativefinancial products and strategies that have the ability to hedgelongevity exposure for pension funds, reinsurance companies, andgovernments. These products and strategies are currently beingdeveloped with the use of life settlements. Here, author VishaalBhuyan provides a complete guide to this burgeoning sector. InLife Markets, Bhuyan and a team of expert contributors fromleading firms offer an extensive look at how to trade lifesettlements.* Provides practical guidance to the growing field of longevityfinance* Outlines the innovative financial products that are populatingthis field* Highlights a safe haven for investors seeking returns introubled timesCovering everything from the history of life settlements tomaking a transaction-pricing, service providers, exchanges, andmore-this book contains extensive coverage of the many issuessurrounding longevity finance.

List of Contributors.Foreword by Dennis Gartman.Preface.Acknowledgments.Part One: Life Settlement Basics.Chapter 1: A Brief History of Life Settlements (Vishaal B.Bhuyan).Chapter 2: Features of Life Insurance (Vishaal B. Bhuyan).Chapter 3: What is a Life Settlement (Dr. David Blake and DebbieHarrison).Chapter 4: Parties Involved (Vishaal B. Bhuyan).Chapter 5: Other Involved Parties (Vishaal B. Bhuyan).Chapter 6: Underwriting (Michael Fasano).Chapter 7: Life Insurance Policy Swaps (Vishaal B. Bhuyan).Chapter 8: Premium Financing (Vishaal B. Bhuyan).Part Two: Securitization.Chapter 9: Life Settlement Securitization (Emanuel Modu).Part Three: Analytics and Pricing.Chapter 10: Life Settlement Pricing (I. James Cavoli).Chapter 11: Using Life Extension-Duration and LifeExtension-Convexity to Value Senior Life Settlement Contracts(Charles A. Stone and Anne Zissu).Chapter 12: Real Options Approach to Life Settlement Valuation(Joseph R. Mason and Hal J. Singer).Part Four: Risk Explored.Chapter 13: Risks Associated with Life Settlements (NemoPerera).Chapter 14: The Risks of a Securitized Portfolio of Senior LifeSettlement (Charles A. Stone and Anne Zissu ).Chapter 15: Synthetics (Antony R. Mott).Part Five: Regulation.Chapter 16: Life Settlements (Boris Ziser and JosephSelvidio).Chapter 17: Regulatory Issues & Insurance Company Reaction(George J. Keiser).Chapter 18: Tax Implications (Micah W. Bloomfield).Part Six: Ethical Issues.Chapter 19: The Ethics of Profiting From Mortality (David Blakeand Debbie Harrison).About the Author.Index.