Date: Thursday, October 04, 2012
Location: 1360 East Hall (3:00 PM to 4:00 PM)
Title: Life Insurance Purchasing to Reach a Bequest
Abstract: We determine how an individual can use life insurance to meet a bequest goal. We assume that the individual's consumption is met by an income, such as a pension, life annuity, or Social Security. Then, we consider the wealth that the individual wants to devote towards heirs (separate from any wealth related to the afore-mentioned income) and find the optimal strategy for buying life insurance to maximize the probability of reaching a given bequest goal.
Joint work with Erhan Bayraktar.
Speaker: Jenny Young
Institution: UM
Event Organizer: Erhan Bayraktar erhan@umich.edu
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