lifecontingencies (version 1.1.10)

AExn: Function to evaluate the n-year endowment insurance

Description

This function evaluates the n-year endowment insurance.

Usage

AExn(actuarialtable, x, n, i=actuarialtable@interest,  k = 1, type = "EV", power=1)

Arguments

actuarialtable

An actuarial table object.

x

Insured age.

n

Length of the insurance.

i

Rate of interest. When missing the one included in the actuarialtable object is used.

k

Frequency of benefit payment.

type

Character value, either "EV" or "ST". EV is the default value.

power

The power of the APV. Default is 1 (mean)

Value

• A numeric value.

Details

The n-year endowment insurance provides a payment either in the year of death or at the end of the insured period.

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,Exn

Examples

#Actuarial Mathematics book example
#check the actuarial equality on the expected values Exn+Axn=AExn
data(soa08Act)
AExn(soa08Act, x=35,n=30,i=0.06)
Exn(soa08Act, x=35,n=30,i=0.06)+Axn(soa08Act, x=35,n=30,i=0.06)