deathBenefit.annuityDecreasing: Describes the death benefit of a decreasing whole life...

In kainhofer/r-life-insurance-contracts: Framework for Traditional Life Insurance Contracts

Describes the death benefit of a decreasing whole life insurance (after a possible deferall period)

Description

The death benefit will be the full sumInsured for the first year after the deferral period and then decrease like an annuity to 0 at the end of the policyPeriod. This can be used with the deathBenefit parameter for insurance contracts, but should not be called directly.

Usage

deathBenefit.annuityDecreasing(interest)

Arguments

interest

The interest rate of the loan, which is underlying the insurance.

Details

This function is a mere generator function, which takes the interest rate and generates a function that describes a decreasing annuity.

The generated function has the following parameters:

len

The desired length of the Cash flow vector (can be shorter than the policyPeriod, if q_x=1 before the end of the contract, e.g. for life-long insurances)

params

The full parameter set of the insurance contract (including all inherited values from the tariff and the profit participation)

values

The values calculated from the insurance contract so far

kainhofer/r-life-insurance-contracts documentation built on Sept. 18, 2022, 7:56 p.m.