Description: This presentation is a panel discussion, session 94PD, from the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. The panelists discuss behavioral finance, which incorporates psychological phenomena into models of financial markets. Noting that behavioral finance was originally deemed controversial, the panelists look at progress made to integrate behavioral finance into models of efficient markets. The presentation includes a case study on a product in Canada commonly known as guaranteed investment fund [GIF], a segregated fund product, with risks similar to GMDB variable annuities. Behavioral finance is also discussed from the perspective of complex adaptive systems, including nonactuarial applications of these systems, some existing actuarial applications, and some potential actuarial applications. Discussion from participants is included. From the Record of Society of Actuaries, Volume 26, No. 3.

Description: This article briefly describes the guarantees available within the segregated Fund products sold in Canada along with the associated risks and cost factors.

Description: The second part of a two-part Canadian Corner article on Segregated Fund Guarantees. Part I ran in the June 1998 issue of Product Development News.

Description: Full version of Product Development News, March 1999, Issue No. 48.