AuthorVylder, F. Etienne De. author
TitleLife Insurance Theory [electronic resource] : Actuarial Perspectives / by F. Etienne De Vylder
ImprintBoston, MA : Springer US : Imprint: Springer, 1997
Connect tohttp://dx.doi.org/10.1007/978-1-4757-2616-9
Descript XVI, 184 p. online resource

SUMMARY

This book is different from all other books on Life Insurance by at least one of the following characteristics 1-4. 1. The treatment of life insurances at three different levels: time-capital, present value and price level. We call time-capital any distribution of a capital over time: (*) is the time-capital with amounts Cl, ̃, ... , C at moments Tl, T , ..โข , T resp. N 2 N For instance, let (x) be a life at instant 0 with future lifetime X. Then the whole oO oO life insurance A is the time-capital (I,X). The whole life annuity รค is the x x time-capital (1,0) + (1,1) + (1,2) + ... + (I,'X), where 'X is the integer part ofX. The present value at 0 of time-capital (*) is the random variable T1 T TN Cl V + ̃ v , + ... + CNV . (**) In particular, the present value ofA 00 and รค 00 is x x 0 0 2 A = ̃ and รค = 1 + v + v + ... + v'X resp. x x The price (or premium) of a time-capital is the expectation of its present value. In particular, the price ofA 00 and รคx 00 is x 2 A = E(̃) and รค = E(I + v + v + ... + v'X) resp


CONTENT

1. Financial Models -- 2. Mortality Models -- 3. Construction of Life Tables -- 4. Basic Concepts of Life Insurance Mathematics -- 5. Life Annuities (One Life) -- 6. Life Insurances (One Life) -- 7. Relations Between Life Annuities and Life Insurances (One Life) -- 8. Decompositions of Time-Capitals (One Life) -- 9. Life Insurance Contracts (One Life) -- 10. Ruin Probability of a Life Insurance Company -- 11. Insurances on a Status (Several Lives) -- 12. Decomposition of Time-Capitals (Several Lives) -- 13. Life Insurance Contracts (Several Lives) -- 14. Multiple Decrement Models -- 15. Variances (Several Lives) -- 16. Population Groups on a Graph -- Appendix A. Summation by Parts -- Appendix B. Linear Interpolations -- Appendix C. Probability Theory -- Appendix D. A Differential Equation -- Appendix E. Inversion of a Power Series -- Appendix F. Summary of Formulas -- References -- Notation Index


SUBJECT

  1. Mathematics
  2. Business
  3. Management science
  4. Finance
  5. Actuarial science
  6. Economic theory
  7. Mathematics
  8. Actuarial Sciences
  9. Business and Management
  10. general
  11. Finance
  12. general
  13. Economic Theory/Quantitative Economics/Mathematical Methods