ACont. {DetLifeInsurance}R Documentation

Continuous Life Insurance

Description

Calculates the present value of a continuous life insurance.

Usage

ACont.(x, h, n, i = 0.04, data, prop = 1, assumption = "UDD", cap = 1)

Arguments

x

An integer. The age of the insuree.

h

An integer. The deferral period.

n

An integer. Number of years of coverage.

i

The interest rate. A numeric type value.

data

A data.frame of the mortality table, with the first column being the age and the second one the probability of death.

prop

A numeric value. It represents the proportion of the mortality table being used (between 0 and 1).

assumption

A character string. The assumption used for fractional ages ("UDD" for uniform distribution of deaths and "constant" for constant force of mortality).

cap

A numeric type value. The value of the payment.

Value

Returns a numeric (actuarial present value).

References

Chapter 3 of Life Contingencies (1952) by Jordan, chapter 4 of Actuarial Mathematics (1997) by Bowers, Gerber, Hickman, Jones & Nesbitt.

Examples

ACont.(24,2,10,0.04,CSO80MANB,1,"UDD",1)
ACont.(24,2,10,0.04,CSO80MANB,1,"constant",1)


[Package DetLifeInsurance version 0.1.3 Index]