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Return of premiums and minimum sum assured

Published online by Cambridge University Press:  20 April 2012

S. Haberman
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Abstract

This paper deals with life assurance policies where the death benefit is the maximum of a fixed sum assured and a return of the gross premiums paid. The gross premium is then the solution of an implicit equation. The conditions for the uniqueness and existence of a solution are discussed.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 111 , Issue 3 , December 1984 , pp. 569 - 572
Copyright
Copyright © Institute and Faculty of Actuaries 1984

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References

Hooker, P. F. & Longley-Cool, L. H. (1971) Life and other Contingencies. Volume 1. Cambridge University Press, London.Google Scholar
Neill, A. (1977) Life Contingencies. Heinemann, London.Google Scholar
Panjer, H. H. (1977) Continuous Analysis of the Cash Refund Annuity. ARCH 1977.1.Google Scholar