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

This function evaluates n - years term and whole life insurance.

1 2 |

`actuarialtable` |
An actuarial table object. |

`x` |
Age of the insured. (can be a vector). |

`n` |
Coverage period, if missing the insurance is considered whole life |

`i` |
Interest rate (overrides the interest rate slot in |

`m` |
Deferring period, even fractional, if missing assumed to be 0. (can be a vector). |

`k` |
Number of periods per year at the end of which the capital is payable in case of insured event, default=1 (capital payable at the end of death year). (should be a scalar). |

`type` |
A string, either |

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

`...` |
Arguments to be passed to |

The variance calculation has not been implemented yet.

A numeric value representing either the actuarial value of the coverage (when type="EV") or a number drawn from the underlying distribution of Axn.

The function is provided as is, without any guarantee regarding the accuracy of calculation. We disclaim any liability for eventual losses arising from direct or indirect use of this software.

It is possible that value returned by stochastic simulation are biased. Successive releases of this software will analyze the issue with detail.

Giorgio A. Spedicato

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

1 2 3 4 5 6 7 8 9 10 11 12 13 14 | ```
#assume SOA example life table to be load
data(soaLt)
soa08Act=with(soaLt, new("actuarialtable",interest=0.06,
x=x,lx=Ix,name="SOA2008"))
#evaluate the value of a 40 years term life insurance for an aged 25
Axn(actuarialtable=soa08Act, x=25, n=40)
#check an relevant life contingencies relationship
k=12
i=0.06
j=real2Nominal(i,k)
Axn(soa08Act, 30,k=12)
i/j*Axn(soa08Act, 30,k=1)
``` |

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