
Lecture 14
Annuities certain. Some
problems of general theory
It seemed to us worthwhile to spend two lectures on particular forms
of insurance contracts, because we now wish to try to see the wood
for the trees by looking at the underlying principles common to all
contracts considered so far. From a rather crowded literature one can
mention Gerber [1979], p. 39, who treats profits emerging over time
from a life insurance contract in a probabilistic setting; Neill [1989],
ch. 4, which contains a comprehensive account of life insurance pol-
icy values or policy reserves and how their values move over time,
from a traditional actuarial viewpoint, which essentially ...