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Chapter 4. Life Insurance.
Manual for SOA Exam MLC.
Chapter 4. Life Insurance.
Section 4.1. Introduction to life insurance.
c 2009. Miguel A. Arcones. All rights reserved.
Extract from:
"Arcones' Manual for the SOA Exam MLC. Fall 2009 Edition".
available at http://www.actexmadriver.com/
c 2009. Miguel A. Arcones. All rights reserved. Manual for SOA Exam MLC.
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Chapter 4. Life Insurance. Section 4.1. Introduction to life insurance.
Level benefit insurance in the continuous case
In this chapter, we will consider a cashflow of contingent
payments, i.e. the payments depend on uncertain events modeled
as a random variable.
Definition 1
The (APV) actuarial present value of a cashflow of payments is
the expectation of its present value at the time of purchase of this
cashflow.

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

Collections: Mathematics