Variation in Individual Life Insurance Premium Revenues: An Econometric Approach

1977 ◽  
Vol 44 (1) ◽  
pp. 67 ◽  
Author(s):  
Donald M. DePamphilis
Keyword(s):  
Life Insurance ◽  
Insurance Premium ◽  
Individual Life ◽  
Econometric Approach

scholarly journals PERHITUNGAN PREMI ASURANSI JOINT LIFE DENGAN MODEL VASICEK DAN CIR

2019 ◽  
Vol 8 (3) ◽  
pp. 246
Author(s):  
I MADE WAHYU WIGUNA ◽  
KETUT JAYANEGARA ◽  
I NYOMAN WIDANA
Keyword(s):  
Stochastic Process ◽  
Interest Rates ◽  
Life Insurance ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insurance Company ◽  
Vasicek Model ◽  
Cir Model ◽  
Premium Payment ◽  
Premium Price

Premium is a sum of money that must be paid by insurance participants to insurance company, based on  insurance contract. Premium payment are affected by interest rates. The interest rates change according to stochastic process. The purpose of this work is to calculate the price of joint life insurance premiums with Vasicek and CIR models. The price of a joint life insurance premium with Vasicek and CIR models, at the age of the insured 35 and 30 years has increased until the last year of the contract. The price of a joint life insurance premium with Vasicek model is more expensive than the premium price using CIR model.

scholarly journals MENENTUKAN FORMULA CADANGAN PREMI ASURANSI JIWA LAST SURVIVOR MENGGUNAKAN METODE NEW JERSEY

2019 ◽  
Vol 8 (4) ◽  
pp. 264
Author(s):  
I GUSTI AGUNG GEDE DWIPAYANA ◽  
I NYOMAN WIDANA ◽  
KARTIKA SARI
Keyword(s):  
New Jersey ◽  
Life Insurance ◽  
Insurance Premium ◽  
First Year ◽  
Premium Payment ◽  
Second Year ◽  
Annual Premium

Last survivor life insurance is a type of life insurance for two or more people, with premium payment up to the last death of the insured and at that time also provide the benefit from the insurer. The purpose of this research was to determine the formula for last survivor life insurance premium reserve using New Jersey method. To calculate the reserve: first we determine the benefit, and then the annuity and finnaly the annual premium. The premium reserve value in the New Jersey method on first year is zero. The premium reserve in the New Jersey method starts in the second year, for  years, with  where n represents the term of the insurance participant’s contract.

scholarly journals PERHITUNGAN PREMI ASURANSI JIWA DWIGUNA PASUTRI SEBAGAI PENERAPAN PEMBELAJARAN MATEMATIKA EKONOMI

2016 ◽  
Vol 3 (1) ◽  
pp. 99
Author(s):  
Irma Fauziah
Keyword(s):  
Family Member ◽  
Uniform Distribution ◽  
Life Insurance ◽  
Insurance Premium ◽  
Discount Factor ◽  
Mathematical Economics ◽  
Force Of Mortality ◽  
Actuarial Mathematics ◽  
The One ◽  
Compound Interest

<p>In learning mathematical economics, the calculation of life insurance premiums is a matter concerning the application of a combination of compound interest, probability, differential and integral.  Life insurance with multilife concept is the one of ap- plied in actuarial mathematics.  A functions, in the actuarial cal- culation, related to death sequence in multilife concept is called as contingent function.   Usage that function in calculation of insurance premium will assist the insurer in giving the benet precisely.<br />Contingent probabilities are resulted by multiplication be- tween the force of mortality of life in the last sequence of death which have been determined and probabilities of life all family member in multilife status. Insurance formulation is obtained by mutiplying this probabilities with <em>v</em>t discount factor and they are integrated by using the assumption of a uniform distribution of death throughout the year of age.</p>

scholarly journals Legal Consequences of Late Payments in Payment of the Insurance Premium // Pravne posljedice docnje u plaćanju premije osiguranja

2018 ◽  
Vol 8 (8) ◽  
pp. 102
Author(s):  
Slobodan Stanišić
Keyword(s):  
Life Insurance ◽  
Insurance Coverage ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insured Person ◽  
Legal Consequences

The paper discusses the legal consequences that may occur when the insured person late or do not fulfill the obligation to pay premiums. Failure to pay premiums on time and in the manner as provided by the insurance contract or by law, affect the beginning of life insurance coverage, and thus the existence of insurers liability to indemnify or pay the insured sum at the occurrence of an event that is insured case.

Evaluation of Life Insurance Market Development in Poland During the Years 1991-2010

2012 ◽  
Vol 7 (2) ◽  
pp. 209-227
Author(s):  
Andrzej Grzebieniak
Keyword(s):  
European Union ◽  
Life Insurance ◽  
Insurance Premium ◽  
Insurance Market ◽  
Market Development ◽  
The European Union ◽  
Economic Growth Rate ◽  
Domestic Markets ◽  
Insurance Sector ◽  
Significant Acceleration

Radical changes in Poland during the last decade of the 20th c. causednot only a significant acceleration of Poland's economic growth rate but also rapid increase in the importance of insurance for the national economy. The penetration coefficient, i.e. the ratio of the gross premium written to the GDP, which in case of the total premiums increased from 1.83% in 1991 to 3.83% in 2010, and in case of life insurance from 0.26% to 2.31% respectively, is considered one of the synthetic measures of that importance. Although the Polish insurance market is developed far less than the European Union market where that coefficient is 7.9% and 4.8% respectively those differences decrease every year. The similar trend is presented by the depth coefficient that is the per capita insurance premium that additionally in case of life insurance increases faster than in case of the insurance sector as a whole. This indicates a relatively good life insurance market development rate in Poland although that market still ranks within the second half of the total number of the European Union countries' domestic markets.

Market Micro Structure of Indian Life Insurance Industry: A General Trend Analysis

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Tanu Dhingra
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Graphical Analysis ◽  
Insurance Premium ◽  
First Year ◽  
Micro Structure ◽  
Life Insurance Industry ◽  
Risk Management Process ◽  
Insurance Density ◽  
New Policies

In 1991, Indian economy was liberalized in a big way. In this financial liberalization, our study is focused on ascertaining trends due to structural reforms affected in the life insurance industry. The present study explains the concept of market micro structure. It also elaborates upon the concept of insurance from three perspectives and incorporates the risk management process. The main emphasis of the study is to ascertain the growth trends of variables peculiar to life insurance industry. The study reveals a growth and graphical analysis of life insurance penetration, life insurance density, new policies issued, first year premium and total life insurance premium and shows that insurance industry has been on a growth path as all the above mentioned variables have shown a consistent rise.

scholarly journals Socio-Economic, Demographic and Institutional Variables’ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar

2016 ◽  
Vol 9 (1) ◽  
pp. 10
Author(s):  
Momar Sylla Dieng ◽  
Mouhamadou Fall
Keyword(s):  
Financial Development ◽  
Life Insurance ◽  
Insurance Premium ◽  
Sub Saharan Africa ◽  
Mixed Effect ◽  
Institutional Variables ◽  
Panel Model ◽  
Insurance Density ◽  
Sub Saharan ◽  
The Relationship

<p>This study empirically analyzes the Socio-economic, Demographic and Institutional Variables’ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar taking into account the Socio-economic and the Cultural structures of the set of countries. A mixed effect panel model is used to estimate the relationship between these variables and life insurance provisions, life insurance density and life insurance premium. covering the period 2000-2013, we found that financial development and urbanization are the only variables significantly related to all the variables of interest.</p>

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