12-Year Experience Following Bone Marrow Transplantation with Emphasis on Acute and Chronic Leukemia

Abstract

Actuaries use a variety of approximations in calculating reserves. Among the methods used by actuaries for policies with modal premiums are fully discrete reserves, fully continuous reserves, discounted continuous reserves (equivalent to the apportionable premium case), and semicontinuous reserves. In this paper I discuss the relationships between these methods. I also examine the practical approximations commonly used and the way in which unearned premiums and deferred premiums are incorporated into this framework.