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Chapter 6. Benefit premiums.
Manual for SOA Exam MLC.
Chapter 6. Benefit premiums.
Section 6.8. Non-level premiums and/or benefits.
c 2008. Miguel A. Arcones. All rights reserved.
Extract from:
"Arcones' Manual for SOA Exam MLC. Fall 2010 Edition",
available at http://www.actexmadriver.com/
c 2008. Miguel A. Arcones. All rights reserved. Manual for SOA Exam MLC.
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Chapter 6. Benefit premiums. Section 6.8. Non-level premiums and/or benefits.
Non-level premiums and/or benefits.
Let bk be the benefit paid by an insurance company at the end of
year k, k = 1, 2, . . . . The contingent cashflow of benefits is
benefits 0 b1 b2 b3 · · ·
Time after issue 0 1 2 3 · · ·
Hence, the APV of the contingent benefit is

k=1

Source: Arcones, Miguel A. - Department of Mathematical Sciences, State University of New York at Binghamton

Collections: Mathematics