Description Usage Arguments Value References Examples

Calculates the present value of a varying life insurance according to a geometric progression.

1 2 3 4 5 6 7 8 9 10 11 12 13 |

`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. |

`r` |
The variation rate. A numeric type value. |

`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 4 of Actuarial Mathematics for Life Contingent Risks (2009) by Dickson, Hardy and Waters.

1 2 3 4 5 6 | ```
Avg.(33,0,5,1,0.8,0.04,CSO80MANB,1,"none","none",1)
Avg.(26,2,4,1,0.4,0.04,CSO80MANB,1,"none","none",1)
Avg.(25,0,15,2,0.25,0.04,CSO80MANB,1,"constant","inter",1)
Avg.(37,10,10,4,0.05,0.04,CSO80MANB,1,"constant","intra",1)
Avg.(40,5,20,6,0.04,0.04,CSO80MANB,1,"UDD","inter",1)
Avg.(20,0,80,12,0.01,0.04,CSO80MANB,1,"UDD","intra",1)
``` |

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