V_Avg.: Reserve Valuation for Varying Life Insurance: Geometric...

In JoaquinAuza/DetLifeInsurance: Life Insurance Premium and Reserves Valuation

Description

Calculates the reserve for the varying life insurance up to the moment t.

Usage

V_Avg.(
  px,
  x,
  h,
  n,
  k = 1,
  r,
  cantprem = 1,
  premperyear = 1,
  i = 0.04,
  data,
  prop = 1,
  assumption = "none",
  variation = "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.
r	The variation rate. A numeric type value.
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).
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.
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_Avg.(170.113596880528,20,2,2,1,0.05,2,1,0.04,CSO80MANB,1,"none","none",100000,4)
V_Avg.(183.854458536232/12,20,2,2,2,0.05,24,12,0.04,CSO80MANB,1,"UDD","intra",100000,48)
V_Avg.( 175.054867728107/12,20,2,2,2,0.05,24,12,0.04,CSO80MANB,1,"UDD","inter",100000,48)
V_Avg.(184.431102889578/12,20,2,2,2,0.05,24,12,0.04,CSO80MANB,1,"constant","intra",100000,48)
V_Avg.(174.645127871158/12,20,2,2,2,0.05,24,12,0.04,CSO80MANB,1,"constant","inter",100000,48)

JoaquinAuza/DetLifeInsurance documentation built on Sept. 15, 2020, 3:34 p.m.