AExn: Function to evaluate the n-year endowment insurance

Description Usage Arguments Details Value Note Author(s) References See Also Examples

View source: R/5_actuarialFunctions.R

Description

This function evaluates the n-year endowment insurance.

Usage

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AExn(actuarialtable, x, n, i=actuarialtable@interest,  k = 1, type = "EV", power=1)

Arguments

actuarialtable

An actuarial table object.

x

Insured age.

n

Length of the insurance.

i

Rate of interest. When missing the one included in the actuarialtable object is used.

k

Frequency of benefit payment.

type

A string, either "EV" for expected value of the actuarial present value (default) or "ST" for one stochastic realization of the underlying present value of benefits. Alternatively, one can use "expected" or "stochastic" respectively (can be abbreviated).

power

The power of the APV. Default is 1 (mean)

Details

The n-year endowment insurance provides a payment either in the year of death or at the end of the insured period.

Value

A numeric value.

Note

When type="EV" the function calls both Axn and Exn.

Author(s)

Giorgio A. Spedicato

References

Actuarial Mathematics (Second Edition), 1997, by Bowers, N.L., Gerber, H.U., Hickman, J.C., Jones, D.A. and Nesbitt, C.J.

See Also

Axn,Exn

Examples

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#Actuarial Mathematics book example
#check the actuarial equality on the expected values Exn+Axn=AExn
data(soa08Act)
AExn(soa08Act, x=35,n=30,i=0.06)
Exn(soa08Act, x=35,n=30,i=0.06)+Axn(soa08Act, x=35,n=30,i=0.06)

spedygiorgio/lifecontingencies documentation built on March 21, 2021, 5:36 a.m.