March 2016
Intermediate to advanced
700 pages
144h 54m
English
Content preview from Principles of Risk Management and Insurance, 13th EditionBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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APPENDIX Calculation of Life Insurance Premiums
Our discussion of life insurance would not be complete without a discussion of how life insurance premiums are calculated. This section discusses briefly the fundamentals of premium calculations and policy reserves of life insurers.1
Net Single Premium
Although most life insurance policies are not purchased with a single premium, the net single premium forms the foundation for the calculation of life insurance premiums. The net single premium (NSP) is defined as the present value of the future death benefit. It is that amount, which together with compound interest will be sufficient to pay all death claims. In calculating the NSP, only mortality and investment income are considered. A loading for ...
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