000			02210nam a2200349 i 4500
001			CR9781139879316
003			UkCbUP
005			20240912170350.0
006			m|||||o||d||||||||
007			cr||||||||||||
008			140211s2015||||enk o ||1 0|eng|d
020			_a9781139879316 (ebook)
020			_z9781107076129 (hardback)
020			_z9781107430754 (paperback)
040			_aUkCbUP _beng _erda _cUkCbUP
050	0	0	_aHG8817 _b.M55 2015
082	0	0	_a368.3/7 _223
100	1		_aMilevsky, Moshe Arye, _d1967- _eauthor.
245	1	0	_aKing William's tontine : _bwhy the retirement annuity of the future should resemble its past / _cMoshe Milevsky, York University, Toronto.
264		1	_aCambridge : _bCambridge University Press, _c2015.
300			_a1 online resource (xv, 257 pages) : _bdigital, PDF file(s).
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
500			_aTitle from publisher's bibliographic system (viewed on 05 Oct 2015).
520			_aIn a time before bonds, treasury notes, or central banks, there were tontines. These were schemes in which a group of investors lent money to a government, corporation, or king, similar to a modern-day loan syndicate. But unlike conventional debt, periodic interest payments were distributed only to survivors. As tontine nominees died, the income of survivors correspondingly increased. Morbid, perhaps, but this was one of the earliest forms of longevity insurance in which the pool shared the risk. Moshe Milevsky tells the story of the first tontine issued by the English government in 1693, known as King William's tontine, intended to finance the war against French King Louis XIV. He explains how tontines work, the financial and economic thinking behind them, as well as why they fell into disrepute. Milevsky concludes with a provocative argument that suitably modified tontines should be resurrected for twenty-first century retirement income planning.
650		0	_aTontine life insurance policies.
650		0	_aRetirement income.
776	0	8	_iPrint version: _z9781107076129
856	4	0	_uhttps://doi.org/10.1017/CBO9781139879316
942			_2ddc _cEB
999			_c9548 _d9548