Installment Joint Life Insurance Actuarial Models with the Stochastic Interest Rate

DOI

10.2991/msmi-14.2014.42How to use a DOI?

Keywords

Stochastic interest rate, Installment payment, Combine life insurance, Net level premium, Reserve.

Abstract

Actuarial theory in a stochastic interest rate environment is an active research area in life insurance. Installment joint life insurance actuarial theories are one of the key contents in actuarial theory. In this study, an interest force accumulation function model with a Wiener process and a Poisson process is proposed as the basis for the installment joint life insurance actuarial models. Then increasing life insurance actuarial models with the consumer price index are approximated. With the proposed model, the net single premium, net level premium, the reserves and the risk of loss model are provided. The actuarial models in the paper provide a feasible method to calculate the life insurance premium.

Copyright

© 2014, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Nian-Nian Jia
AU  - Yue Li
AU  - Dong-Hui Wang
PY  - 2014/06
DA  - 2014/06
TI  - Installment Joint Life Insurance Actuarial Models with the Stochastic Interest Rate
BT  - Proceedings of the 2014 International Conference on Management Science and Management Innovation
PB  - Atlantis Press
SP  - 231
EP  - 235
SN  - 2352-5428
UR  - https://doi.org/10.2991/msmi-14.2014.42
DO  - 10.2991/msmi-14.2014.42
ID  - Jia2014/06
ER  -