Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help for both of these questions below for life contingencies 2 (actuarial science) 1 . ( 5 points ) You are given the

i need help for both of these questions below for life contingencies 2 (actuarial science)

image text in transcribedimage text in transcribed
1 . ( 5 points ) You are given the following triple - decrement table .I d ( 1 ) d ( 3 ) 2 ( 3 ) of (total ) 30 | 2162 10 75 31 / 2025 41 145 32 47 82 33 | 1722 29 54 34 | 1559 34 65 177 Question Calculate the probability that a life age 30 will live for 2 years and die from cause 3 during the following 3 years .2. ( 5 points ) For a multi - state model of a special 3 - year term insurance on ( ^) : i . Insureds may be in one of three states at the beginning of each year : active ( State O ) , disabled ( State ! ) , or dead ( State 2 ) . The annual transition probabilities are as follows for k = 0, 1 , 2 : State ?" PITH PITA Path Active ( 0 ) 0. 8 0 . 1 0 . 1 Disabled ( 1 ) 0 . 1 0 .7 0 . 2 Dead ( 2 ) 0. 0 0. 0 1.0 ii . A 100 000 benefit is payable at the end of the year of death whether the insured was active or disabled . ili . Premiums are paid at the beginning of each year when active . Insureds do not pay any annual premiums when they are disabled at the start of the year . iv . d = 0. 10 Question : Calculate the level annual net premium for this insurance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete and Combinatorial Mathematics An Applied Introduction

Authors: Ralph P. Grimaldi

5th edition

201726343, 978-0201726343

More Books

Students also viewed these Mathematics questions