 In this context , which catches real features such as correlation between the market model and the time of death, we address the risk-minimization problem \`a la F\"ollmer-Sondermann for a large class of equity-linked mortality contracts. The challenge in this setting, when no modelspecification for these securities nor for the death timeis given, lies in finding the dynamics and the structures for the mortality / longevity securities used in the securitization.
<clarity>  In this context , which catches real features such as correlation between the market model and the time of death, we address the risk-minimization problem \`a la F\"ollmer-Sondermann for a large class of equity-linked mortality contracts. The challenge in this setting, when no modelspecification for these securities nor for the death timeis given, lies in finding the dynamics and the structures for the mortality / longevity securities used in the securitization.
 In this context with no model's specification for the random time, the main challenge lies in finding the dynamics and the structures for the mortality / longevity securities used in the securitization.