Długowieczność i instrumenty finansowe związane z długowiecznością
Longevity and financial instruments related to longevity

Summary/Abstract: A significant decrease in mortality is observed in people at retirement age compared to the 60s-70s of the 20th century. They can expect that they will live and receive retirement benefits longer. However insolvency of pension systems, the bankruptcy of insurance companies could be possible, when it turns out that benefits should be paid for longer, or at a different amount than expected. How to protect against this situation? The aim of the article is the analysis of the impact of a lifetime increase on the financial condition of companies and the presentation of the structure of several kinds of financial instruments that hedge the longevity. Premiums are calculated by the two principles, taking into account the annual changes of survival probability by using own programs. The conclusions are presented in the last part of the article.

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