lifecontingencies (version 1.3.1)

rLifeContingencies: Function to generate samples from the life contingencies stochastic variables.

Description

This function returns a n-size sample from the underlying present value of benefits stochastic variable defined by a specific life contingencies insurance form.

Usage

rLifeContingencies(n, lifecontingency, object, x, t, 
i = object@interest, m=0, k = 1 , parallel=FALSE, payment="advance")

Arguments

n

Size of sample

lifecontingency

A character string, either "Exn" or "Axn" or "axn" or "IAxn" or "DAxn".

object

An actuarialtable object.

x

Policyholder's age at issue time.

t

The lenght of the insurance. Must be specified according to the present value of benefits definition.

i

The interest rate, whose default value is the actuarialtable interest rate slot value.

m

Deferring period, default value is zero.

k

Fractional payment, default value is 1.

parallel

Uses the parallel computation facility.

payment

Payment type: "advance" default is the annuity due, otherwise annuity due.

Value

A numeric vector.

Warning

Before using this function, the unbiaseness of the sample drawn from the distribution shall be verified. The function is still in testing ad for some classes of life contingencies biased. The function is provided as is, without any warranty regarding the accuracy of calculations. The author disclaims any liability for eventual losses arising from direct or indirect use of this software. Currently k>1 computation are not supported yet.

Details

This function is a wrapper for internal function that returns the present value of insured benefits.

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

Exn, Axn, axn,IAxn,DAxn.

Examples

# NOT RUN {
	#assumes SOA example life table to be load
	data(soaLt)
	soa08Act=with(soaLt, new("actuarialtable",interest=0.06,
	x=x,lx=Ix,name="SOA2008"))
	out<-rLifeContingencies(n=1000, lifecontingency="Axn",object=soa08Act,
	x=40,t=getOmega(soa08Act)-40, i=soa08Act@interest,m=0)
	APV=Axn(soa08Act,x=40)
	#check if out distribution is unbiased
	t.test(x=out, mu=APV)$p.value>0.05
# }