Life Insurance Policies with Statistical Heterogeneous Population |
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| Authors: | M Dahan E Frostig N A Langberg |
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| Institution: | 1. Institut des Sciences Actuarielles , Université Catholique de Louvain , Grand-Rue, 54, B-1348, Louvain-la-Neuve, Belgium;2. Institut de Statistique , Université Catholique de Louvain , Voie du Roman Pays, 20, B-1348, Louvain-la-Neuve, Belgium |
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| Abstract: | In the paper we consider an endowment insurance contract with a twelve months maturation time. Using the majorization order and Schur-convex functions we derive upper and lower bounds of the premium, the death and survival benefits for a hetrogeneous population of insureds. The bounds are obtained for the exponential, Balducci, and linear approximations. |
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| Keywords: | Endowment Insurance Upper Lower Bounds Majoriza Tion Schur Convex Concave Functions |
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