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Insurance (Assessing the value of insurance (the availability of…
Insurance
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Annuities
Deferred and immediate annuities may be used to secure deferred pension and pensions in payment when a DB scheme winds up.
Immediate annuities may also b purchased by DB schemes to insure against longevity and reduce investment risk
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disinvestment may be required at an inappropriate time. Can by mitigated by holding matching assets (i.e. bonds (lifestyling))
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free cover level
the amount up to which the insurer will provide life cover for individuals in the group without medical evidence (usually expressed as a maximum amount per individual)
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