Description Usage Arguments Value References Examples
Calculates the present value of a decreasing life insurance.
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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. 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). |
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). |
variation |
A character string. "inter" if the variation it's interannual or "intra" if it's intra-annual. |
cap |
A numeric type value. Amount insured for the first year/period. |
Returns a numeric value (actuarial present value).
Chapter 3 of Life Contingencies (1952) by Jordan, chapter 4 of Actuarial Mathematics (1997) by Bowers, Gerber, Hickman, Jones & Nesbitt.
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