Annuities under random rates of interest—revisited

In the article we consider accumulated values of annuities-certain with yearly payments with independent random interest rates. We present the variance formulae of the final values of the annuities, which leads to a correction of Theorems 4.2, 4.3, 4.5 and 4.6 from Zaks [Insurance: Mathematics and Economics 28 (2001) 1].