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 |
Multiple Life Insurance | 8 |
1 | 11 |
Copyright | |
16 other sections not shown
Other editions - View all
Common terms and phrases
A₂ amount annual payments annual premium annuity annuity-due approximation assume assumption Calculate Ck+1 commutation functions components consider constant corresponding death benefit decrement decrement table defined derived equation equivalence principle evaluated expected present value expected value expense-loaded premium expression follows force of interest force of mortality future lifetime gamma distribution given Gk+1 Goal Seek Hence identity Illustrative Life Table increasing independent initial age insurance policy insured is alive insurer's loss interest rate issued k+1V k+uV kPx 9x+k mortality gain net premium reserve net single premium number of deaths obtain paid parameters Pr(K premium is denoted premium payments premium reserve probability distribution probability of death pure endowment random variable recursion formula risk premium Section 2.6 single premium Spreadsheet Exercises sum insured survival technical gain Theory Exercises value of future Var[L variance whole life insurance