Proceedings of the 2014 International Conference on Management Science and Management Innovation

Installment Joint Life Insurance Actuarial Models with the Stochastic Interest Rate

Authors
Nian-Nian Jia, Yue Li, Dong-Hui Wang
Corresponding Author
Nian-Nian Jia
Available Online June 2014.
DOI
https://doi.org/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.
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This is an open access article distributed under the CC BY-NC license.

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Proceedings
2014 International Conference on Management Science and Management Innovation (MSMI 2014)
Part of series
Advances in Economics, Business and Management Research
Publication Date
June 2014
ISBN
978-94-6252-015-8
ISSN
2352-5428
DOI
https://doi.org/10.2991/msmi-14.2014.42How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

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  - 2014 International Conference on Management Science and Management Innovation (MSMI 2014)
PB  - Atlantis Press
SN  - 2352-5428
UR  - https://doi.org/10.2991/msmi-14.2014.42
DO  - https://doi.org/10.2991/msmi-14.2014.42
ID  - Jia2014/06
ER  -