Pricing life annuities for impaired lives: the case of Portugal

Onofre Simões; Cláudia Barradas

doi:10.26360/2022_1

Autores/as

Onofre Simões Universidade de Lisboa (Portugal) https://orcid.org/0000-0002-9129-3499
Cláudia Barradas Universidade de Lisboa (Portugal) https://orcid.org/0009-0002-9052-3261

DOI:

https://doi.org/10.26360/2022_1

Palabras clave:

rentas vitalicias, vida deteriorada, supervivencia neta, supervivencia bruta, SHARE

Resumen

Los mercados de rentas vitalicias están subdesarrollados en Portugal y otros países. Este “annuitization puzle” se explica por las mejoras en la mortalidad en edades avanzadas y la selección adversa pasiva, razones que ponen en una desventaja injusta a las personas con una esperanza de vida disminuida. Usando datos del proyecto SHARE (Survey of Health, Aging and Retirement in Europe), evaluamos el impacto de algunas de las enfermedades más graves y comunes sobre una curva de supervivencia de referencia. Luego calculamos el precio de las rentas vitalicias por deterioro de la vida, utilizando la supervivencia ajustada, y las comparamos con las de la población de referencia. Mostramos que aplicar la mortalidad de referencia a las vidas deterioradas es muy injusto y que es posible fijar el precio de las rentas vitalicias para las vidas debilitadas por la enfermedad de manera precisa.

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