Part-1-continuous-331-2011-F

Part-1-continuous-331-2011-F - Review Notes ACTSC 331, FALL...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Review Notes ACTSC 331, FALL 2011 Part 1 Policy Values/Benefit Reserves (Continuous Basis) 1. The prospective formula for policy values/benefit reserves for general fully continuous insurances on ( x ): t V = Z b t + s v s s p x + t x ( t + s ) ds- Z t + s v s s p x + t ds, t , where b t is the death benefit at time t if death is at time t , and t is the annual rate of benefit premiums at t and payable continuously as long as ( x ) is alive, t . 2. The retrospective formula for policy values benefit reserves for general fully continuous insurances on ( x ): t V = 1 t E x Z t s v s s p x ds- Z t b s v s s p x x ( s ) ds , t . 3. Prospective formulas for the standard fully continuous policy values/benefit reserves: (a) Whole life insurance of 1 on ( x ): t V ( A x ) = A x + t- P ( A x ) a x + t , t . (b) n-Year endowment insurance of 1 on ( x ): t V ( A x : n | ) = A x + t : n- t |- P ( A x :...
View Full Document

Page1 / 3

Part-1-continuous-331-2011-F - Review Notes ACTSC 331, FALL...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online