System for underwriting a combined joint life and long term care insurance policy which is actuarially responsive to long term care demands and life expectancies of the individual insureds

摘要

Sets of future risk expectation strings for long term care and for life expectancy are categorized into a plurality of Joint Equal Age Risk Classifications, upon which risk exposure sequencing and present risk value analysis are applied to calculate joint equal age present risk values that are inputted into a Joint Equal Age Risk Chart; future risk expectation strings for long term care and for life expectancy are also categorized into a plurality of Age Differential Classifications, which are distinct and independent from the separately categorized Joint Equal Age Classifications. Risk exposure sequencing and present risk value analysis are applied to calculate temporary joint equal age present risk values and temporary differential present risk values, which are compared to generate temporary age equivalence differentials that are inputted into a temporary age equivalence matrix from which an age differential adjustment factors are drawn and inputted into an Age Differential Adjustment Chart. The so constructed Joint Equal Age and Age Differential Adjustment Charts are then used, in combination, to form the basis for rate structuring of an insurance product covering joint long term care and life benefits.