This textual content focuses on the life cycle of particular person life and annuity contracts and the hyperlinks among the many numerous varieties of values which might be related to these contracts. For the scholar, it illustrates the relationships that exist amongst premiums, money values, reserves, dividends and different non-assured parts when designing particular person merchandise. It’s thus a useful supplemental reference for SOA fellowship research within the Individual Insurance specialty. For the skilled actuary, this textual content supplies a complete abstract of present actuarial apply within the design, pricing and day by day upkeep of particular person merchandise. This second version has been up to date for the business modifications which have occurred since 1999. A CD ROM with spreadsheets to exhibit revenue testing options can also be included with the second version. This textual content is listed on the Course of Studying for the Society of Actuaries Fundamentals of Actuarial Follow course.
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