Description: This paper investigates the use of models of dependent mortality for determining annuity values. We discuss a broad class of parametric models using a bivariate survivorship function called a copula. Using data from a large insurance company to illustrate our methods, we calculate maximum likelihood estimates to calibrate the rnodel.

Description: The objectives of this paper are to determine the extent to which Makeham's or Gompertz's laws describe recent insurance and population mortality analyze how the constants in the two laws vary with respect to some factors and propose a simple extension to Makeham's law to account for recent departures from the laws, related to difference in sex. Presented at Actuarial Research Conference at Ball State University, September 1, 1978

Description: This is Mr. Hilary L. Seal's response letter to Editor Arnold F. Shapiro in regards to the 1983.1 ARCH's document on number of deaths observed in a mortality study.

Description: This paper reviews data from the accident study for years 1930-1935 to see if there are any relationships between disabled worker mortality and standard mortality that might endure to the present. From the Actuarial Research Clearing House ARCH 1990 Vol. 1.

Description: Shows how to use personal information such as medical history, family characteristics, etc. in a logical statistical fashion for the purpose of modifying an existing mortality table to reflect the collected underwriting information.

Description: There are three commonly used methods for compiling exposure and death data for use in obtaining crude mortality rates. They are lives, policies and amounts of insurance. This paper investigates the properties of estimators based on lives, amounts and robust alternatives. It is concluded that lives provide the best estimator, even when there is a moderate dependence of mortality rates on amounts of insurance. Presented at the Fourteenth Actuarial Research Conference, lowa City, lowa, September 6, 1979.

Description: Because mortality tables are generally tabulated at yearly intervals actuaries frequently must make assumptions about intermediate values in developing formulas for insurance and annuity functions. This paper examines the effect on insurance and annuity formulas of assuming Mx+t to be linear within each interval.

Description: What are the possible future implications to insurance companies of significant improvements in mortality? How can futurism techniques be used in research? The formation of the mortality improvement study group at the Principal Financial Group was the first step toward examining the issue of mortality improvement. In an interactive format, we will present what we learned about mortality and futurism techniques by participating in this group.

Description: Statistical properties of interest, annuity and insurance functions are examined when mortality and interest are treated as having a random component. Several special models of interest rate fluctuation are examined in detail. It is hoped that such theory will be useful in developing fluctuation reserves and premium margins. Presented at the 13th Annual Actuarial Research Conference, Ball State University, August 31st. September lst, 2nd. 1978.

Description: Actuarial literature in the twenty-five years includes discussions of a well known inequality. Among the recent papers on various aspects of this classic result are those by Berin 1970, Olson 1975 and Sarason 1960. A standard method for achieving this inequality uses Jensen's inequality. This is the method used by Bowers, et al 1983. We will also employ this method in an attempt to learn about it.