Am. {DetLifeInsurance}

Life Insurance of a group

Description

Calculates the present value of a life insurance coverage for a group.

Usage

Am.(
  x,
  h,
  n,
  k = 1,
  i = 0.04,
  data,
  prop = 1,
  ndeath = 1,
  assumption = "none",
  cap = 1
)

Arguments

x

A vector of intergers representing the age of each individual of the group.

h

An integer. The deferral period.

n

An integer. Number of years of coverage.

k

An integer. Number of fractions per year.

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).

ndeath

An integer. Number of deaths necessary for payment to occur.

assumption

A character string. The assumption used for fractional ages ("UDD" for uniform distribution of deaths, "constant" for constant force of mortality and "none" if there is no fractional coverage).

cap

A numeric type value. The value of the payment.

Value

Returns a numeric value (actuarial present value).

Examples

ages<-c(22,33,44,55,66)
Am.(ages,5,15,1,0.04,CSO80MANB,1,2,"none",1)
Am.(ages,0,20,4,0.04,CSO80MANB,1,2,"UDD",1)
Am.(ages,10,25,2,0.04,CSO80MANB,1,2,"constant",1)