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Comments On Some Parametric Models For Mortality Tables, Kam C. Yuen
Comments On Some Parametric Models For Mortality Tables, Kam C. Yuen
Journal of Actuarial Practice (1993-2006)
Parametric models for the entire age pattern of mortality have been suggested by Heligman and Pollard (1980) and Carriere (1992). The former is designed to fit the classical mortality pattern while the latter is supported by a statistical theory. Insights into their papers motivate us to consider a variation of the Heligman-Pollard model. We also apply these models to the 1993 Hong Kong Assured Lives Mortality Tables as well as the 1991 Hong Kong Female Life Table. This paper is not intended to construct a better parametric model for mortality tables; the main purpose is simply to provide insights into …
Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral
Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral
Journal of Actuarial Practice (1993-2006)
This paper shows data that illustrate the substantial variation among nonmedical schedules and the dramatic increase in their amount limits from 1972 through 1992. Coefficients of variation are analyzed for several data subsets. We find that the variation of schedules in the sample of all firms has increased throughout the 1972-1992 period for issue ages up to 30, but has declined for issue ages beyond 30 during the 1982-1992 period. For the non-New York and stock companies our statistical tests indicate an increase in the variability of schedules over the full period 1972 to 1992.
Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral
Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral
Journal of Actuarial Practice (1993-2006)
This paper shows data that illustrate the substantial variation among nonmedical schedules and the dramatic increase in their amount limits from 1972 through 1992. Coefficients of variation are analyzed for several data subsets. We find that the variation of schedules in the sample of all firms has increased throughout the 1972-1992 period for issue ages up to 30, but has declined for issue ages beyond 30 during the 1982-1992 period. For the non-New York and stock companies our statistical tests indicate an increase in the variability of schedules over the full period 1972 to 1992.
Modal Premium Factors In Ordinary Life Insurance, James B. Ross, Criss G. Woodruff
Modal Premium Factors In Ordinary Life Insurance, James B. Ross, Criss G. Woodruff
Journal of Actuarial Practice (1993-2006)
For ordinary life policyholders who want to pay more frequently than annually, insurers construct schedules of modal premium factors that reflect additional charges for the costs of collection, forgone interest, and premiums uncollected or refunded in the year of death. Competition within the industry forces convergence of such schedules. On the other hand, if such factors for a given company reflect its own experience (in expense, interest, mortality, and persistency), the differences between companies will force schedules apart. Analysis of a large group of life insurers over the 1972-1982-1992 period shows that modal premium factors are dustered closely, that they …