Marriage Reverse Annuity Contract and Reverse Mortgage – Application of a Generalized Model of Reversionary Annuity
AbstractThe purpose of the paper is applying the generalized model of reversionary annuity to determine the benefit of marriage reverse annuity contracts and reverse mortgages. First of all, benefits depend on the age of spouses, their future lifetime and the real value of their properties which, in turn, determines the place where they live. In addition, the frequency of payments affects the amount of benefit. Therefore, the periodic benefits are determined for some regions of Poland on the basis of real Polish data from 2015, which mostly comes from The Central Statistical Office of Poland. Calculations of annuities are based on the fixed interest rate and the interest rate function depending on time t for Polish real data. The results are later compared
|Publication size in sheets||0.5|
|Book||Gardoń Albert, Kozyra Cyprian, Mazurek Edyta (eds.): Applications of Mathematics and Statistics in Economics 2017. Conference proceedings full text papers, 2017, Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu, ISBN 978-83-7695-693-0, 494 p.|
|Keywords in English||reverse annuity contract, reverse mortgage, reversionary annuity|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.