The language in the business of aging as it relates to insurance and pension fund providers seems lofty if not lost on us, but we do know, based on the recent gathering storm of news; that not only should we be more literate about financing our individual longevity, we should also be more aware of the impact on changes to social policy for health care, housing and pensions.
It’s enough to make your head spin, but the metrics of aging and longevity deserve more notice even if it’s to better inform us about how some of the proposed changes floating around out there are being formulated.
Check out some of the publications on the web site for the UK based Life & Longevity Markets Association for example. LLMA is a non-profit organization founded and funded by members such as Aviva, Deutsche Bank, and J.P. Morgan. There are no secrets here. Try reading Standardizing the Longevity Market.
Yes it’s a market and we are all part of it. And most of the world hasn’t got a clue. Are you aware of where you’re at on the “remaining life expectancy” (RLE) index? Have you heard of longevity hedging? How about your longevity exposure status? Yikes, get busy.
Oh! If your elder mother only new about the business of measuring longevity risk indices and real elderly dependency ratios (REDR). Meanwhile back in her room in the local retirement residence, the picture you straightened on the wall on your last visit is crooked again.