For convenience, we first consider GMMB and GMDB with a constant guarantee K.
* In case of life benefit (GMMB) paid at the contract's expiration date T, in case of survival:
We consider four contracts: GMMB, GMDB, mixed GMMB/GMDB, and GMAB.
Using Equation (3), Table 2 for GMMB, Tables 3 and 4 for GMDB, and Table 5 for joint GMMB/GMDB, give equilibrium prices for embedded options and fair costs for the margin offset rate [m.sub.o] necessary to fund the guarantee liability, while Table 6 gives the fair costs and fair prices for GMAB contracts.
's Feeney notes that video remains key, befitting a generation raised on images that play across multiple screens.
As the elections near, GMMB will set up a permanent team in the Uruguayan capital.
GMMB says it provides candidates with a crisis committee to meet the challenge of difficult races that experts say can't be won.
For example, by integrating voter intel with TV ratings data, while leveraging Dish Network's addressable-advertising technology, GMMB was able to serve up custom ads targeted to select households.
In some ZIP-plus-four clusters, GMMB would have as many as a dozen different heat-seeking spots aimed at their respective targets.
"The addressable approach is a gold mine," says Danny Jester, who as svp of GMMB served as media director of both Obama campaigns.
While the Romney camp played catch-up, making late local buys meant to reach the segment with which the GOP candidate was polling favorably during that particular week, GMMB made more advance investments.
SUSAN DELIDDO MICHELS (D), 34, is vice president of GMMB
, a political advertising and consulting firm with offices in Washington, Los Angeles and Seattle.