为什么不选A，找退保价值高的？

问题如下：

Which of the three characteristics of life settlements noted by Anderson is correct?

选项：

Characteristic 1

Characteristic 2

Characteristic 3

解释：

B is correct. Hedge funds look for policies in which the ongoing premium payments to keep the policy active are relatively low, so Characteristic 2 is correct. Hedge funds also look for life settlements where the surrender value offered to the insured individual is also relatively low and the probability that the designated insured person is likely to die earlier than predicted by standard actuarial methods is relatively high.

A is incorrect because hedge funds look for policies in which the surrender value offered to the insured individual is relatively low (not high) in order to enhance return by purchasing at a lower price.

C is incorrect because hedge funds look for settlements in which the probability that the designated insured person is likely to die earlier than predicted by standard actuarial methods is relatively high. This means the hedge fund’s cash outflows to pay the ongoing premium will be less than predicted, which will enhance return.

B 是正确的。 对冲基金寻找的保单中保持保单活跃，并且持续的保费支付相对较低，因此特征 2 是正确的。 对冲基金还寻找人寿结算，其中提供给被保险人的退保价值也相对较低，（这样保单持有人就不会退保了），并且指定的被保险人可能比标准精算方法预测的更早死亡的可能性相对较高（就是精算师根据大数据预测平均寿命是75-77岁，然后根据这个做的投保的金额保证公司不会亏还能赚。只有被保人死亡早于75岁，保险公司才在这个人身上亏，HF才能赚）。

A 不正确，因为对冲基金是寻找提供给被保险人的退保价值相对较低（不高）的保单，以便通过以较低的价格购买来提高回报。

C 不正确，因为对冲基金寻找指定被保险人可能比标准精算方法预测的更早死亡的概率相对较高的结算。 这意味着对冲基金用于支付持续溢价的现金流出将少于预期，这将提高回报。（这个是根据原文要翻译，写的比较拗口，可以看下面的解析。是指如果刚好在精算师得预计死亡时间范围内，比如80岁到82岁之间，精算师计算保费都是计算整体平均死亡时间，如果死的比这个早，就可以早点拿到赔偿，如果死的和精算师预计得一样，就没有赚到利润。如果是表达的死亡早于精算师计算的死亡时间，这个C就对了。）