Life insurance: modeling the lifetime (original) (raw)

Introduction to Insurance Mathematics, 2010

Abstract

When writing insurance contracts, the insurer takes risks originating from various causes. In life insurance, causes of risk relate to financial aspects (e.g. investment yield, inflation, etc.), demographical aspects (e.g. lifetimes of policyholders, lapses and surrenders, etc.), expenses. In this Section we are dealing with demographical aspects only, focussing on policyholders’ lifetimes, which in turn determine the frequency of death in a portfolio.

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