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Northern Illinois University Course Info
Dekalb, Illinois
Course Info
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STAT 486
Life Contingencies and Payment Models II
Premium calculations for life insurances and annuities via percentiles and the equivalence principle. Liability calculations for life insurances and annuities via the prospective, retrospective methods. Calculation of reserves for fully-discrete life insurances. Discuss the above for single and multiple-decrement models. Extend the present-value-of-benefit, present-value-of-loss-at-issue, present-value-of-future-loss random variables and liabilities to discrete-time Markov Chain models
Units: 3.0
Prerequisites:
STAT 485 - Life Contingencies and Payment Models I