中文摘要：

权益指数年金（Equity Indexed Annuities）是欧美市场近十年发展起来的一类新型年金产品,有最小收益保证,在最小保证基础上与预先设定好的某类股指收益相关联．本文在考虑死亡风险情况下,对简单点对点和年度重设两种指数计算方法下权益指数年金的定价问题作了研究,给出了定价公式并对参与率作了敏感性分析．

英文摘要：

Equity-indexed annuity is a new kind of annuity whose development got started in the US and European market in the last ten years. A typical Equity-indexed annuity guarantees a minimum return on a portion of the initial amount invested. In addition to this minimum guarantee,the annuitant receives some participation in the appreciation of a pre-determined stock index. The paper discusses how to value an equity-indexed annuity with mortality risk by point to point method and annual reset method. It also gives the formulas and makes analysis of sensitivity.