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On the Approximate Evaluation of the Integral for the Compound Survivorship Annuity

Published online by Cambridge University Press:  18 August 2016

Extract

In the various references in the Journal to the subject of the approximate evaluation of compound survivorship annuities and assurances, the possibility of using Mr. Emory McClintock's expression for the continuous annuity (J.I.A. xviii, 242) does not appear to have been noticed. By substituting Mr. McClintock's expression for the annuity under the integral sign, and integrating by parts, many compound survivorship benefits can be expressed more or less approximately in terms of simple survivorship benefits; but it may be admitted that the labour necessary to obtain a result as accurate as that obtainable by a summation formula would not in general recommend the method. There is, however, one case—that of the compound survivorship annuity involving three lives—in which the special interest that has always been taken in the function may be considered a sufficient apology for a result which is both complicated and limited in its range of practical applicability; that case it is proposed to investigate in this note.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1898

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