Tuesday, April 1, 2014: 10:30 a.m.
Washington Room 2 (Washington Marriott Wardman Park)
Despite persistent efforts to educate and communicate about longevity risk and its potentially harmful effects, the marketplace for longevity risk mitigation solutions has been slow to develop. We propose that, in part, the problem stems from the lack of a common definition and the resulting lack of a consistent understanding of longevity risk. We examine and critique various definitions used by financial and policy communities, as well as the public at large. Finally, we suggest that a concerted effort to address this semantic murkiness is an essential ingredient for the success of marketplace solutions and broader public policy initiatives.
*Awarded Consulting Track Prize