Syllabus
1-2) Mortality and its analysis; basic knowledge - crude and specific death rates - standardization - change to continuous formulation of mortality - force of mortality 3-4) Smoothing of the curve of probability of death - mooving average - Gompertz-Makehamova formula 5) Life tables in life insurance - basic relations in life rable - indexes of the life duration and its calculation 6) Introduction to the theory of insurance, life insurance - main idea - primary principles; principle of the solidarity, principle of the equivalence 7) Interest rates - present and final value 8) Counting of the present value of benefits 9-12) Counting of the one-off netto premium for several types of life insurance
Annotation
The possibility of usage of demographic data in life insurance is presented to students within this course. There are the basics of the analysis of mortality and mortality tables summarized and amplified in the first part of the course. In the second part, the elements of financial and insurance mathematics are connected to the knowledge of mortality and mortality tables.
Partial issues are solved also in the SAS software environment, but previous SAS courses are not required.
More info: see the course in Moodle