Description: This paper introduces the symbolic valuation, a stochastic valuation which allows flexible interest rate and cash flow assumptions, and provides an illustration which values a simple SPDA product. From Actuarial Research Clearing House 1992, Vol. 1.

Description: Many seniors who own houses in the United States have most of their wealth in their houses. Home Equity Conversion Mortgages are designed to allow seniors to borrow money against their house. This paper describes a stochastic simulation approach used to estimate the amount of a level-payment annuity payable as long as the senior is alive and living in his/her home. From Actuarial Research Clearing House 1990, VOL. 2.

Description: The purpose of this paper is to provide a method for calculating special contingency reserves for investment losses. The method is derived by first building a stochastic investment model and then utilizing its probabilistic structure. From Transactions of Society of Actuaries 1980, Vol. 32.