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The LifeInsuranceContracts Package For Traditional Life Insurance with Guarantee and Profit Participation

R package implementing general life insurance contracts

This package R6 classes to model traditional life insurance contracts like annuities, whole life insurances or endowments. All relevant quantities like premium decomposition, reserves and benefits over the whole contract period are calculated and potentially exported to excel. Mortalities are given using the MortalityTables package.

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Version

Install

install.packages('LifeInsuranceContracts')

Monthly Downloads

720

Version

0.0.4

License

GPL (>= 2)

Maintainer

Reinhold Kainhofer

Last Published

September 11th, 2022

Functions in LifeInsuranceContracts (0.0.4)

InsuranceContract.ParametersFallback

Use fallback values for missing contract parameters

InsuranceContract.ParametersFill

Initialize the insurance contract parameters from passed arguments

ProfitComponentsMultipleEnum-class

Enum to define the different components of profit participation.

CalculationSingleEnum-class

Enum to define how much of a contract needs to be calculated automatically.

InsuranceContract.Values

Data structure (filled only with NULL) for insurance contract class member values.

InsuranceContract

Base Class for Insurance Contracts

InsuranceContract.ParameterStructure

Full insurance contract parameter structure.

PaymentTimeSingleEnum-class

Enum to describe when a benefit or premium payment is due (in advance or in arrears)

InsuranceContract.ParameterDefaults

Default parameters for the InsuranceContract class.

Base class for traditional Insurance Tarifs (with fixed guarantee, profit sharing and no unit-linked component)

age.yearDifference

Calculate the age of the insured based on the difference of the bith year and contract closing year.

age.exactRounded

Calculate the age of the insured based on exact age at contract closing, rounded to the nearest birthday.

costs.baseAlpha

Helper function to define base costs with base alpha, but otherwise unchanged costs

Create a grid of InsuranceContract objects or premiums with each axis representing one varying parameter

SexSingleEnum-class

Enum to describe possible sexes in an insurance contract or tariff.

If hook is a function, apply it to val, otherwise return val unchanged

ProfitParticipation

Base Class for Profit Participation Schemes

TariffTypeSingleEnum-class

An enum specifying the main characteristics of the tarif.

Convert the multi-dimensional costs array to a data.frame for output to a file

Replace missing values in ields by default fallback values

deathBenefit.linearDecreasing

Describes the death benefit of a linearly decreasing whole life insurance (after a possible deferall period)

ProfitParticipationFunctions

Helper functions for profit participation

deathBenefit.annuityDecreasing

Describes the death benefit of a decreasing whole life insurance (after a possible deferall period)

costs.scaleAlpha

Helper function to modify alpha costs of an insurance contract individually

costsDisplayTable

Helper function to display all cost definitions in a concise table

Overwrite all existing fields with default values given

Defines a frequency charge (surcharge for monthly/quarterly/semiannual) premium payments

Set all entries of the given vector to 0 up until index 'start'

exportInsuranceContract.xlsx

Export an insurance act object tocontract (object of class InsuranceContract) to an Excel file

Update one component of an InsuranceTarif's cost structure

vmGlgExample.generateTest

Generate testthat output for unit-testing a tarif implementation

Calculate the rolling mean of length 2

valueOrFunction

If val is a function, evaluate it, otherwise return val

makeContractGridDimname

Create human-readable labels for the dimensions in a contractGrid()

isSinglePremiumContract

Determine whether a contract (given all parameters) is a single-premium contract or with regular premiums

Replace all NA entries of a vector with the previous non-NA value

filterProfitRates

Filter the whole data.frame of profit rates for the given profit classes

Pad the vector v to length l by repeating the last entry of the vector.

Pad a vector with 0 to a desired length

exportInsuranceContractExample

Export the example calculations of an insurance contract

showVmGlgExamples

Display insurance contract calculation example

testVmGlgExample

Perform unit tests of given standard values of the insurance contract example

initializeCosts

Initialize or modify a data structure for the definition of InsuranceTarif costs

isRegularPremiumContract

Determine whether a contract (given all parameters) is a contract with regular premiums