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Policyholder Surrender Behaviors under Extreme Financial Conditions
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 Title & Authors
Policyholder Surrender Behaviors under Extreme Financial Conditions
Kim, Chang-Ki;
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We model surrender rates with a few explanatory variables such as the difference between reference marke rates and product crediting rates, the policy age since the contract was issued, unemployment rates, economy growth rates, and seasonal effects using logit function. We investigate the policy holder surrender behaviors of US single premium deferred annuities(SPDA) and Korean interest indexed annuities under extreme financial conditions.
Surrender/Lapse rate model;extreme financial conditions;surrender rate changes;
 Cited by
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