Calculate policy values for state-dependent life insurance, long-term health insurance, and CCRCs.
Free SOA Exam ALTAM (Advanced Long-Term Actuarial Mathematics) lesson in Premium and Policy Valuation for Long-Term Coverages. 87 min read, ~13,053 words.
State-conditioned reserves: compute separately for each occupied state. Same age, same duration, different state means different liability. Thiele recursion: equals EPV future benefits and expenses from state minus EPV future premiums from state, under the multi-state model. Premium-paying versus benefit-receiving states are disjoint in DI and LTC. Premium collected only...
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What this lesson covers
- Content
- Example 1
- Example 2
- Example 3
- Example 4
- Example 5
- Example 6
- Example 7
- Example 8
- Example 9
- Example 10
- Example 11
- Example 12
- Example 13
- Example 14
- Example 15
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- 2d
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