
| 1 The Mathematics of Compound Interest 1.1 Mathematical Bases of Life Contingencies 1.2 Effective Interest Rates 1.3 Nominal Interest Rates 1.4 Continuous Payments 1.5 Interest in Advance 1.6 Perpetuities 1.7 Annuities 1.8 Repayment ofa Debt 1.9 Internal Rate of Return 2 The Future Lifetime of a Life Aged x 2.1 The Model 2.2 The Force of Mortality 2.3 Analytical Distributions of T 2.4 The Curtate Future Lifetime of (x) 2.5 Life Tables 2.6 Probabilities of Death for Fractions of a Year 3 Life Insurance 3.1 Introduction 3.2 Elementary Insurance Types 3.2.1 Whole Life and Term Insurance 3.2.2 Pure Endowments 3.2.3 Endowments 3.3 Insurances Payable at the Moment of Death 3.4 General Types of Life Insurance 3.5 Standard Types of Variable Life Insurance 3.6 Recursive Formulae 4 Life Annuities 4.1 Introduction 4.2 Elementary Life Annuities 4.3 Payments made more Frequently than Once a Year 4.4 Variable Life Annuities 4.5 Standard Types of Life Annuituy 4.6 Recursion Formulae 4.7 Inequalities 4.8 Payments Starting at Non-iutegral Ages 5 Net Premiums 5.1 Introduction 5.2 An Example 5.3 Elementary Forms of Insurance 5.3.1 Whole Life and Term Insurance 5.3.2 Pure Endowments 5.3.3 Endowments 5.3.4 Deferred Life Annuities 5.4 Premiums Paid m Times a Year 5.5 A General Type of Life Insurance 5.6 Policies with Premium Refund 5.7 Stochastic Interest 6 Net Premium Reserves 6.1 Introduction 6.2 Two Examples 6.3 Recursive Considerations 6.4 The Survival Risk 6.5 The Net Premium Reserve of a Whole Life Insurance 6.6 Net Premium Reserves at Fractional Durations 6.7 Allocation of the Overall Loss to Policy Years 6.8 Conversion of an Insurance 6.9 Technical Gain 6.10 Procedure for Pure Endowments 6.11 The Continuous Model 7 Multiple Decrementsl 8 Multiple Life Insurance 9 The Total Claim Amount in a Portfolio 10 Expense Loadings 11 Estimating Probabilities of Death Appendix A. Commutation Functions Appendix B. Simple Interest Appendix C. Exercises Appendix D. Solutions Appendix E. Tables References Index |
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