Authors : Niannian Jia and Yanhui Ji
Abstract: Owing to the steady fluctuation of the Wiener process and the sudden disturbance of the negative binomial distribution, we proposed an interest force accumulation function model with a Wiener process and a negative binomial distribution. We built a n-years variable payment life insurance Actuarial Model with this interest force accumulation function. Meanwhile, we obtained the level net premium based on the semi-continuous variable payment life insurance policy with the hypothesis of Weibull mortality. Finally, we simulated model in a numerical example with Matlab and concluded the impact of different parameters upon the level net premium. That further verified the feasibility of the model.
Niannian Jia and Yanhui Ji, 2011. A Class of Variable Payment Life Insurance Actuarial Model with the Stochastic Interest Rate under the Weibull Distribution of Death. Journal of Modern Mathematics and Statistics, 5: 80-83.