Private Premium of Endowment Last Survivor and Joint Life Insurance with Pareto Distribution

摘要

This paper studies a dual life insurance premium is determined with the combined status of last survivor and joint life involving two insurance participants who have a kinship relationship such as husband and wife, brother and sister, which they work in the same agency. In determining the policy to be made by the life insurance does not require two policies to be made, but enough to have only one policy. So that by having one policy expected premiums paid by life insurance participants to life insurance companies will be smaller than if you have to pay in two policies. Determination of insurance premiums dual life to be paid by an insurance party participant based on the chance of death from both life insurance participants, stating a condition that will continue as long as there is at least one member who is still alive and will cease after the death of the last person of its member, and also is an ongoing condition se long time all members of a combination of several people can survive and will stop after one of its members first dies, to determine the single premium and annual premium using the cash value of the initial life annuity from dual life insurance. Whereas the initial annuity cash value is influenced by the interest rate and discount factor and is also influenced by the combined life opportunity of the two insurance participants. Furthermore, from the chance of life will be obtained the chance of dying In formulating the chance of dying the insurance participant is used the Pareto distribution and to obtain the parameter values in the Pareto distribution the maximum Likelihood method is used. In order to obtain the chance of death and can be used to calculate a single premium and annual premium.