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Revision%20Questions%281%29

# Revision%20Questions%281%29 - Life Insurance and...

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Life Insurance and Superannuation Models Week 12: Revision May 30, 2011 1 / 9

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Week 12: Revision Summary Exam Type Questions References The Entire Lecture Material ACTL3002: Week 12 2
Life Insurances and Annuities Derive an expression for the APV of a whole life insurance and the corresponding variance expression. Claire, aged exactly 30, buys a whole life assurance with a sum assured of \$50,000 payable at the end of year of death. Calculate the standard deviation of the present value of this benefit using AM92 Ultimate mortality and 6% pa interest. Derive an expression for the APV of a whole life annuity due and the corresponding variance expression. ACTL3002: Week 12 3

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Net Premium Valuation and Reserves Calculate the annual premium for a term insurance with a sum assured of \$500,000, assuming AM92 Ultimate mortality and interest rate of 4% pa . Assume that the death benefit is paid at the end of the year of death. A life aged exactly 50 buys a 15-year endowment assurance policy with a sum assured of \$ 50,000 payable on maturity or at the end of year of earlier death. Level
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Revision%20Questions%281%29 - Life Insurance and...

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