1. Обучение
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  2. Курса
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  3. Life Insurance Products Valuation in R
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упражнение

Deferred life insurance

Cynthia now challenges Ethan to change the code himself to calculate the EPV of a deferred life insurance on \((x)\) for a given constant interest rate \(i\). The following figure shows the corresponding timeline for a deferral period of \(u\) years.

There is no death benefit if the policyholder dies during the first \(u\) years. From time \(u\) on, a death benefit of 1 EUR is payable at the end of the year of death of the policyholder.

The function whole_life_insurance() and the EPV of a whole life insurance for a 20-year-old at interest rate \(i = 2\%\) and using the 1999 female life_table are given as a starting point.

Инструкции

100 XP
  • Specify the deferred_life_insurance() function which computes the EPV of a deferred life insurance for a given age, deferral period u, interest rate i and life table.
  • Apply the deferred_life_insurance() function to compute the EPV of a life insurance with a deferral period of 45 years. Use age 20, interest rate 2% and the preloaded 1999 female life_table.