Calculation of fractional age life insurance net premium liability reserve based on α-power death assumption
DOI:
https://doi.org/10.64051/jhn.v1i2.52Keywords:
Fractional Age, UDD Hypothesis, Mortality Constant Hypothesis, Hyperbolic Hypothesis, α-power Death Hypothesis, Liability ReserveAbstract
This article discusses the survival rate of fractional age and the net premium liability reserve for fractional age based on the α-power death hypothesis (specifically divided into cases of paying once a year and paying m times a year), combined with the specific data of the life table with the help of R language and Actuarial software such as crystal ball compares the specific data fitted by the α-power hypothesis with the three traditional hypotheses, and finally concludes that the use of the α-power death hypothesis can improve the accuracy of fitting the fractional age survival rate and the life insurance net premium liability preparation The prediction accuracy of gold, this conclusion will provide a more accurate idea for all insurance companies and social institutions to calculate the fractional age net premium liability reserve.
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