Fractional mortality rate based on rational interpolating method and its application in actuarial science

Fractional mortality rate based on rational interpolating method and its application in actuarial... This paper attempts to introduce a new method with adjustable parameter for estimating the mortality of fractional age based on rational interpolating theory. The efficiency analysis of the method is given and some conditions the adjustable parameter should satisfy are given in order to meet the need of actuarial practice. We also analyze the relationship between our estimating method and the one based on UDD assumption—the most commonly used in actuarial study and practice. The result shows that the latter is just a special case of our results. Finally we apply our method to the calculations of actuarial present value of life insurance and annuities. Simulations are also done to give a clear comparison between traditional method and our method specified in this paper. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

Fractional mortality rate based on rational interpolating method and its application in actuarial science

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Publisher
Springer Netherlands
Copyright
Copyright © 2011 by Springer Science+Business Media B.V.
Subject
Social Sciences, general; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1007/s11135-011-9564-4
Publisher site
See Article on Publisher Site

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