Journal of Modern Mathematics and Statistics

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A Class of Variable Payment Life Insurance Actuarial Model with the Stochastic Interest Rate under the Weibull Distribution of Death

Niannian Jia and Yanhui Ji
Page: 80-83 | Received 21 Sep 2022, Published online: 21 Sep 2022

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Abstract

Owing to the steady fluctuation of the Wiener process and the sudden disturbance of the negative binomial distribution, we proposed an interest force accumulation function model with a Wiener process and a negative binomial distribution. We built a n-years variable payment life insurance Actuarial Model with this interest force accumulation function. Meanwhile, we obtained the level net premium based on the semi-continuous variable payment life insurance policy with the hypothesis of Weibull mortality. Finally, we simulated model in a numerical example with Matlab and concluded the impact of different parameters upon the level net premium. That further verified the feasibility of the model.

How to cite this article:

Niannian Jia and Yanhui Ji. A Class of Variable Payment Life Insurance Actuarial Model with the Stochastic Interest Rate under the Weibull Distribution of Death.
DOI: https://doi.org/10.36478/jmmstat.2011.80.83
URL: https://www.makhillpublications.co/view-article/1994-5388/jmmstat.2011.80.83