Insurance Models for Joint Life and Last Survivor Benefits

Article type: Research Article

Authors: Matvejevs, Andrejs | Matvejevs, Aleksandrs

Affiliations: Riga Technical University, Latvia. E-mail: [email protected]

Abstract: Three kinds of the insurance policies for the net premium calculation for married couples are considered. The net premium equation principle is used in all premium calculations. The particular quality of the additional pension assurance is the individual form of its undertaking and the limitation of annual (monthly) pension payments. Due to this fact the biggest interest to the individual insurance show people after age 40–45 years, when the insurance premium rates are so high that most people can't buy such policies. So, the discussed form of the joint life insurance could be proposed to the participant of the pension plan when he or she is reached the pension age and wants to buy the life insurance policy for the accumulated capital of pension.

Keywords: joint life assurance, pension benefits, surrender value, last survival assurance

DOI: 10.3233/INF-2001-12405

Journal: Informatica, vol. 12, no. 4, pp. 547-558, 2001