Life Insurance MathematicsFrom the reviews: "The highly esteemed 1990 first edition of this book now appears in a much expanded second edition. The difference between the first two English editions is entirely due to the addition of numerous exercises. The result is a truly excellent book, balancing ideally between theory and practice. ....As already hinted at above, this book provides the ideal bridge between the classical (deterministic) life insurance theory and the emerging dynamic models based on stochastic processes and the modern theory of finance. The structure of the bridge is very solid, though at the same time pleasant to walk along. I have no doubt that Gerber's book will become the standard text for many years to come. "Metrika, 44, 1996, 2" |
Contents
The Mathematics of Compound Interest | 1 |
The Future Lifetime of a Life Aged x | 15 |
Life Insurance | 23 |
Copyright | |
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Common terms and phrases
A₂ actuarial annual premium annuity annuity-due approximation assume assumption calculated cause of decrement Chapter Ck+1 commutation functions Compound Poisson Compound Poisson Distribution consider corresponding decomposed defined derived distribution with parameters estimator evaluated example expected present value expected value expense-loaded premium reserve expenses expression force of interest force of mortality future lifetime gamma distribution identity independent initial age insurance policy insured is alive integer interest rate interpretation interval joint-life status k+1V kPx 9x+k mathematical method mortality gain multiple net premium reserve net single premium number of deaths obtain perpetuity Poisson distribution premium is denoted probability distribution probability of death probability theory pure endowment random variable recursive recursive formula reinsurance result risk premium Section 2.6 single premium stop-loss sum insured technical gain Total Claim Amount value of future variance whole life insurance