Life insurance actuarial science

Author: Lei Yu
Publisher:
Publish Date: 1998-01-01
Features: This book is used as the teaching material for students of the Insurance Department at Peking University to study Actuarial Science. The book is divided into three parts; Part I Interest Theory mainly discusses the measurement and determination of interest rates, as well as the calculation of present and future values of annuities; Part II Life Uncertainty examines the calculation of elements such as premiums, reserves, cash value, asset shares, dividends, and surplus by studying the random variable of the insured's remaining life; Part III Risk Theory explores individual and collective risk models over different periods. The book illustrates the principles of life actuarial science through numerous examples, presented in a step-by-step and easy-to-understand manner. Each chapter includes a summary and exercises, and the answers to the exercises are provided at the end of the book.