This applet shows how premium levels and annuity rates change over time.
During the last decades the mortality has decreased substantially, i.e., today men as well as women live significantly longer than fifty years ago.
Therefore, annuities have to be paid out over a longer period, which causes increasing premium levels and decreasing annuity rates, respectively.
Premiums and annuities are paid once a year in advance.
Enter your desired age for the inception of insurance treaty, the age when you want to recieve the first annuity, and choose an interest rate. Then, the two diagrams display how the premium level and the annuity rate change over time. E.g., if you were born in 1960, then you have to pay less than someone who was born in 2000. Typically, men pay less premium or receive higher annuity rates than women since men have a lower life expectancy.