PT  - JOURNAL ARTICLE
AU  - Leonid A. Gavrilov
AU  - Natalia S. Gavrilova
AU  - Charles Austin Stone
AU  - Anne Zissu
TI  - New Findings on Older People’s Life Expectancies Confirm Gompertz Law: <em>The Impact on the Value of Securitized Life Settlements</em>
AID  - 10.3905/jsf.2014.20.2.066
DP  - 2014 Jul 31
TA  - The Journal of Structured Finance
PG  - 66--73
VI  - 20
IP  - 2
4099  - https://pm-research.com/content/20/2/66.short
4100  - https://pm-research.com/content/20/2/66.full
AB  - Recent findings using records from the U.S. Social Security Administration’s Death Master File discredit the late life mortality deceleration theory and confirm that life expectancies follow the Gompertz law not only until the age of 80, but for many years after. The authors show how these findings have major implications on the valuation of senior life settlements and securities backed by life settlements. They illustrate the sensitivity of valuation to the incorporation of the results of recent research regarding longevity risk.TOPICS: Fixed income and structured finance, wealth management, risk management