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IIRC, in part of the never ending Annuity wars discussion, there was a reference to an academic paper, where professor showed that the insurance companies were significantly underpricing EIA with a guarantee minimum return typically in the 3%+ range
Given the insurance companies latest disasters with investment, the drop of safe investment rates to just barely over the 3% range, and the market tanking etc, I wonder how the insurance companies will be able to pay the claims?
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