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
- 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/).
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 - 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 -