Description Usage Arguments Value References Examples
Calculates the present value of a continuous life insurance.
1  | 
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.  | 
Returns a numeric (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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