Scribd
Upload
26 views2 pages

AM Formulas

The document outlines key actuarial formulas related to decrement tables and insurance products, including calculations for probabilities of survival and death. It details various insurance types, their benefit timelines, and premium payment structures. Additionally, it presents formulas for expected present value and annuities related to insurance products.

Uploaded by

Md Motiur Rahman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
26 views2 pages

AM Formulas

The document outlines key actuarial formulas related to decrement tables and insurance products, including calculations for probabilities of survival and death. It details various insurance types, their benefit timelines, and premium payment structures. Additionally, it presents formulas for expected present value and annuities related to insurance products.

Uploaded by

Md Motiur Rahman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

DAS – Actuarial Mathematics (Formula)

Decrement Table
# 𝒍𝒙+𝟏 = 𝑙𝑥 − 𝑑𝑥 = 𝑙𝑥 × (1 − 𝑞𝑥 )
# 𝒅𝒙 = 𝑙𝑥 − 𝑙𝑥+1 = 𝑙𝑥 𝑞𝑥
𝑙𝑥+1 𝑙𝑥+𝑘
# 𝒑𝒙 = 1 − 𝑞𝑥 = =
𝑙𝑥 𝑙𝑥
𝑑𝑥 𝑙𝑥 −𝑙𝑥+1
# 𝒒𝒙 = =
𝑙𝑥 𝑙𝑥
# 𝒌𝑷𝒙 = (1 − 𝑞𝑥 )𝑘 [𝑞𝑥 𝑖𝑠 𝑐𝑜𝑛𝑠𝑡𝑎𝑛𝑡]
𝑙𝑥+𝑛
# 𝒌𝑷𝒙 = (1 − 𝑞𝑥 ) × (1 − 𝑞𝑥+1 ) × (1 − 𝑞𝑥+𝑘 ) … . =
𝑙𝑥
# 𝒌𝒒𝒙 = (1 − 𝑘𝑃𝑥 ) = 𝑘𝑃𝑥 × 𝑞𝑥+𝑘 = 𝑑𝑥+𝑘 = 𝑝𝑥−1 × 𝑞𝑥+𝑘
# 𝑬𝑷𝑽(𝑭𝑷) = 𝑃(1 + 𝑣𝑝𝑥+1 + 𝑣 2 𝑝𝑥+2 + ⋯ )
# 𝑬𝑷𝑽(𝑭𝑩) = 𝐵(𝑣𝑞𝑥 + 𝑣 2 𝑝𝑥 𝑞𝑥+1 + 𝑣 3 𝑝𝑥 𝑝𝑥+1 𝑞𝑥+2 + ⋯ )

Insurance Products
∞ ∞

# 𝑾𝒉𝑳 = 𝐴𝑥 = ∑ 𝑣 𝑘+1 × 𝑘𝑃𝑥 × 𝑞𝑥+𝑘 = ∑ 𝑣 𝑘+1 × 𝑑𝑥+𝑘


𝑘=0 𝑘=0
𝑛−1 𝑛−1

# 𝑻𝒓𝒎𝑳 = 𝐴𝑥:𝒏⏋ = ∑ 𝑣 𝑘+1 × 𝑘𝑃𝑥 × 𝑞𝑥+𝑘 = ∑ 𝑣 𝑘+1 × 𝑑𝑥+𝑘


𝑘=0 𝑘=0
𝑛
# 𝑷. 𝑬𝒏𝒅𝒘 = 𝐸𝑥 = 𝑣 × 𝑛𝑝𝑥
𝑛−1

# 𝑬𝒏𝒅𝒘 = 𝐴𝑥:𝒏⏋ + 𝐸𝑥 = (∑ 𝑣 𝑘+1 × 𝑘𝑃𝑥 × 𝑞𝑥+𝑘 ) + (𝑣 𝑛 × 𝑛𝑝𝑥 )


𝑘=0
(𝑚)
# 𝑫𝒆𝒇. 𝑾𝒉𝑳 = 𝑛𝐸𝑥 × 𝐴𝑥+𝑛
# 𝑫𝒆𝒇. 𝑻𝒓𝒎𝑳 = 𝑛𝐸𝑥 × 𝐴𝑥+𝑛
∞
1 − 𝐴𝑥
# 𝑳. 𝑨𝒏𝒏𝒖𝒊𝒕𝒚 = 𝑎𝑥 = ∑ 𝑣 𝑘 × 𝑘𝑃𝑥 = = 𝑘𝑝𝑥 × 𝑎𝒏⏋
𝑖
𝑘=1
𝑛 𝑛−1

# 𝑻𝒓𝒎. 𝑨𝒏𝒏𝒖𝒊𝒕𝒚 = 𝑎𝑥:𝒏⏋ = ∑ 𝑣 𝑘 × 𝑘𝑃𝑥 #𝑎̈ 𝑥:𝒏⏋ = ∑ 𝑣 𝑘 × 𝑘𝑃𝑥


𝑘=1 𝑘=0

Sagor Islam Suman


DAS – Actuarial Mathematics (Formula)
Insurance Products Feature
Insurance Type Benefit Timeline Premium Timeline
Paid throughout life or
Whole Life Paid on death at any time (lifetime)
limited-pay options
Term Life Paid only if death occurs during term Paid during term only
Pure Endowment Paid only if alive at end of term Paid during term
Endowment Paid on death during term or survival Paid during term
Deferred Whole Paid from issue date
Paid on death after deferment period
Life onwards
Deferred Term Paid on death during term after Paid from issue date until
Life deferment term ends

Sagor Islam Suman

You might also like