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
accumulated amount annual premium annuity approximation assume assumption becomes benefits calculated called cause Chapter Ck+1 claims condition consider constant continuous corresponding course death debt decrement defined denoted derived determined difference distribution endowment equal equation estimator evaluated example expected expected value expense-loaded expenses expression factor finally financed follows force formula function future gain given gives hand identity illustration immediately increasing independent initial instance interest interpretation interval Introduction k+1V lifetime lives loss mathematical means method mortality multiple net single premium Note observed obtain obviously paid parameters payable payments period perpetuity person Poisson practical premium reserve present value probability pure random variable recursive reinsurance relation Replacing result risk savings similar single premium standard starting status sum insured term insurance theory Types unit variance whole write