setCost

Insurance tariff costs are defined by a cost matrix with dimensions: {CostType, Basis, Period}, where:<dl>
<dt>CostType:</dt>
<dd>alpha, Zillmer, beta, gamma, gamma_nopremiums, unitcosts</dd><dt>Basis:</dt>
<dd>SumInsured, SumPremiums, GrossPremium, NetPremium, Constant</dd><dt>Period:</dt>
<dd>once, PremiumPeriod, PremiumFree, PolicyPeriod, AfterDeath, FullContract</dd>
</dl>After creation (using the function <code>initializeCosts()</code>), the funciton <code>setCost</code>
can be used to modify a single entry. While <code>initializeCosts()</code> provides arguments
to set the most common types of cost parameters in one call, the <code>setCost</code>
function allows to modify any cost parameter.

R6 classes to model traditional life insurance
contracts like annuities, whole life insurances or endowments. Such life
insurance contracts provide a guaranteed interest and are not directly linked
to the performance of a particular investment vehicle, but they typically
provide (discretionary) profit participation. This package provides a framework
to model such contracts in a very generic (cash-flow-based) way and includes
modelling profit participation schemes, dynamic increases or more general
contract layers, as well as contract changes (like sum increases or premium
waivers). All relevant quantities like premium decomposition, reserves and
benefits over the whole contract period are calculated and potentially
exported to 'Excel'. Mortality rates are given using the 'MortalityTables' package.

Reinhold Kainhofer

LifeInsureR

Modelling Traditional Life Insurance Contracts

setCost function

<dl><dt>costs</dt>
<dd>The cost definition matrix (usually created by <code>initializeCosts()</code>)</dd>
<dt>type</dt>
<dd>The cost type (alpha, Zillmer, beta, gamma, gamma_nopremiums, unitcosts)</dd>
<dt>basis</dt>
<dd>The basis fo which the cost rate is applied (default is SumInsured)</dd>
<dt>frequency</dt>
<dd>How often / during which period the cost is charged (once, PremiumPeriod, PremiumFree, PolicyPeriod, FullContract)</dd>
<dt>value</dt>
<dd>The new cost value to set for the given type, basis and frequency</dd></dl>

Arguments

Insurance tariff costs are defined by a cost matrix with dimensions: {CostType, Basis, Period}, where:<dl>
<dt>CostType:</dt>
<dd>alpha, Zillmer, beta, gamma, gamma_nopremiums, unitcosts</dd>

<dt>Basis:</dt>
<dd>SumInsured, SumPremiums, GrossPremium, NetPremium, Constant</dd>

<dt>Period:</dt>
<dd>once, PremiumPeriod, PremiumFree, PolicyPeriod, AfterDeath, FullContract</dd>


</dl>After creation (using the function <code>initializeCosts()</code>), the funciton <code>setCost</code>
can be used to modify a single entry. While <code>initializeCosts()</code> provides arguments
to set the most common types of cost parameters in one call, the <code>setCost</code>
function allows to modify any cost parameter.

Update one component of an InsuranceTarif's cost structure — setCost

<dl>

<dt>costs</dt>
<dd>The cost definition matrix (usually created by <code>initializeCosts()</code>)</dd>


<dt>type</dt>
<dd>The cost type (alpha, Zillmer, beta, gamma, gamma_nopremiums, unitcosts)</dd>


<dt>basis</dt>
<dd>The basis fo which the cost rate is applied (default is SumInsured)</dd>


<dt>frequency</dt>
<dd>How often / during which period the cost is charged (once, PremiumPeriod, PremiumFree, PolicyPeriod, FullContract)</dd>


<dt>value</dt>
<dd>The new cost value to set for the given type, basis and frequency</dd>

</dl>

setCost: Update one component of an InsuranceTarif's cost structure

Description

Usage

Value

Arguments

Details

Examples