Life Insurance

Description

The hallmark of this eBook is a unique and intuitive approach to life insurance concepts and principles. It presents the defining characteristics of life annuities and life insurance and an analysis of the information content of life tables based on the Illustrative Life Table and the survival function of the De Moivre law of mortality. Also considered are premium calculation principles for life annuities including whole life annuities, temporary life annuities, deferred annuities and period certain whole life annuities. The inherent relationships between life annuities and life insurance are highlighted resulting in formulae for single and annual premiums of various life insurance contracts.

About the authors

Dr. Abdul Rahman holds graduate degrees in mathematics and financial economics and won the best teacher award by MBA students for 12 consecutive years at the Telfer School of Management. He has published in prestigious academic journals, held university positions as Full Professor and Associate Dean and consulted for global financial institutions in banking, insurance and asset management.

Drs. Dick Harryvan has a graduate degree in business economics. He is an entrepreneurial executive with extensive experience in setting up life and direct retail banking greenfields including ING Direct the world’s largest direct bank which grew to 24 million customers. Being pragmatic, customer centric, focused and keeping things simple are keys to success and are reflected in this Art of Insurance series.

Content

1. About the Authors
   
2. Preface
   
3. Life Insurance and Life Annuities
   
   1. Introduction
      
   2. Conventional Life Insurance
      
   3. Equity-Linked Life Insurance
      
   4. Annuities Certain
      
   5. Life Annuities
      
4. Mortality Models and Life Tables
   
   1. Introduction
      
   2. Information Content of a Life Table
      
   3. Fractional Age in Life Tables
      
5. Premiums for Life Annuities
   
   1. Introduction
      
   2. Whole Life Annuity Due
      
6. Premiums for Life Insurance
   
   1. Introduction
      
   2. Premiums for Life Insurance
      
7. References