V_A. {DetLifeInsurance} | R Documentation |
Reserve for Life Insurance
Description
Calculates the reserve for the life insurance up to the moment 't'.
Usage
V_A.(
px,
x,
h,
n,
k = 1,
cantprem = 1,
premperyear = 1,
i = 0.04,
data,
prop = 1,
assumption = "none",
cap,
t
)
Arguments
px |
A numeric value. The value of the premium paid in each period. |
x |
An integer. The age of the insuree. |
h |
An integer. The deferral period. |
n |
An integer. Number of years of coverage. |
k |
An integer. Number of fractions per year. |
cantprem |
An integer. The total number of premiums. |
premperyear |
An integer. The number of premiums to be paid per year. |
i |
The interest rate. A numeric type value. |
data |
A data.frame containing 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 used (between 0 and 1). |
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. |
t |
An integer. The moment of valuation (in months if it is a fractional coverage or in years if it is not). |
Value
A data frame with Premium, Risk, 1/E and reserve values up to the moment t.
References
Chapter 5 of Life Contingencies (1952) by Jordan, Chapter 11 of Actuarial Mathematics for Life Contingent Risks (2009) by Dickson, Hardy and Waters.
Examples
V_A.(26673.3602688847,25,2,3,1,2,1,0.04,CSO80MANB,1,"none",12000000,5)
V_A.(27446.2077993839/12,25,2,3,2,24,12,0.04,CSO80MANB,1,"UDD",12000000,60)
V_A.(27376.5521158244/12,25,2,3,2,24,12,0.04,CSO80MANB,1,"constant",12000000,60)