Abstract
In the past 150 years demographic events across the globe have had a rippling effect on just about every aspect of our social and economic lives. Foremost among the demographic transitions that have taken place and which are still ongoing is the dramatic increase in how long we live. No one could have predicted the modern rise in human longevity, and the consequences of this unanticipated phenomenon on work, retirement, insurance, national economies, health care, government funding for age entitlement programmes and pension schemes have been alarming. Even more worrisome is the fact that the most dramatic impacts of population aging are looming ahead of us. In this paper we reveal why these global demographic events occurred, discuss how predictions about the future of human longevity are made, describe new investment and hedging opportunities that have arisen in response to these events, and explain why it is important for prospective investors to understand the nuances of demography, biology and the actuarial sciences before investing in what we anticipate will be an explosive market in the coming years.
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