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Analysis of Basic Actuarial Theory for Fixed Premium Variable Benefit Life Insurance
Analysis of Basic Actuarial Theory for Fixed Premium Variable Benefit Life Insurance This paper, originally ... (MCV), ] + F~ • , (MCV)~, 036) which is a direct analogue of the equation of equilib- rium for ...Description: This paper, originally published in 1969 in Transactions of Society of Actuaries Vol. 21, presents an analysis of the basic actuarial theory for life insurance policies with fixed premiums and variable benefits reflecting the investment performance of a separate account, where in its basic form, the policyholder bears the entire investment risk. The paper discusses various regulatory and other changes that would be needed or desirable, as well as variation in design such as minimum guarantees. Significant discussion is included, with over twenty individuals contributing in addition to the authors. The introduction to the Monograph notes that while not the first paper on this topic, it “clearly established the framework for subsequent developments of variable products.”
Hide- Authors: Walter N Miller, John C Fraser, Charles M Sternhell
- Date: Oct 1969
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Innovative solutions
- Topics: Life Insurance