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2011 | 7 (14) | 155-168

Article title

The effect of common risk on group insurance

Content

Title variants

Languages of publication

EN

Abstracts

EN
Group life insurance is a type of life insurance in which a single contract covers an entire group of people. In the contract a status that determines the termination of the policy is described. For example, in the case of the joint-life status the sum insured is paid because of the first death in the group. To compute the net single premium for a life insurance contract or for a life annuity, we have to calculate the probability that the status is still intact. In the classical group life insurance, it is assumed that the future life times of the insured are independent. This assumption is unrealistic in many practical situations. In this paper two statuses will be considered: the joint-life status and the last-survivor status. The common risk will be taken into account during premium calculation. The effect of the common risk on the group life insurance will be demonstrated in numerical examples.

Year

Issue

Pages

155-168

Physical description

Contributors

References

  • Balicki A. (2006). Analiza przeżycia i tablice wymieralności. Polskie Wydawnictwo Ekonomiczne. Warszawa.
  • Błaszczyszyn B., Rolski T. (2004). Podstawy matematyki ubezpieczeń na życie. Wydawnictwo Naukowo-Techniczne. Warszawa.
  • Central Statistical Office. Official website. www.stat.gov.pl.
  • Elliott C. (2008). Multiple-Life Theory. http://www.scribd.com/doc/48882333/000453534r.
  • Skałba M. (1999). Ubezpieczenia na życie. Wydawnictwa Naukowo-Techniczne. Warszawa.

Document Type

Publication order reference

Identifiers

YADDA identifier

bwmeta1.element.desklight-9498d49e-b57d-49a7-a179-a4e3dbd7e7b0
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