lifecontingencies (version 0.0.3)

DAxn: Decreasing life insurance.

Description

This function evaluate the n-year term decreasing life insurance. Both actuarial value and stochastic value can be obtained.

Usage

DAxn(actuarialtable, x, n, i,m = 0, type = "EV")

Arguments

actuarialtable

An actuarial table object.

x

Age of the insured.

n

Insurance periods length.

i

Interest rate (overrides the interest rate of the actuarial table object).

m

Postponement period, even fractional, if missing assumed to be 1.

type

A string, eithed "EV" (default value) or "ST".

Value

• A numeric value representing the expected value or the simulated value.

Warning

The function is provided as is, without any guarantee regarding the accuracy of calculation. We disclaim any liability for eventual losses arising from direct or indirect use of this software.

Details

Fractional periods have not been implemented yet.

References

Actuarial Mathematics (Second Edition), 1997, by Bowers, N.L., Gerber, H.U., Hickman, J.C., Jones, D.A. and Nesbitt, C.J.

See Also

Axn, IAxn

Examples

#assumes SOA example life table to be load
		data(soaLt)
		soa08Act=with(soaLt, new("actuarialtable",interest=0.06,
		x=x,lx=Ix,name="SOA2008"))
		#evaluate the value of a 10 years decreasing term life insurance for an aged 25
		DAxn(actuarialtable=soa08Act, x=25, n=10)