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Kurs

Life Insurance Products Valuation in R

GrundläggandeKunskapsnivå

Uppdaterad 2024-08

Learn the basics of cash flow valuation, work with human mortality data and build life insurance products in R.

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RApplied Finance

4 tim

17 videor

55 Övningar

4,450 XP

7,889

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Kursbeskrivning

Understanding the basic principles of life insurance products is essential for your personal financial planning, ranging from taking out a mortgage to designing your retirement plan and seeking financial protection for the risk of dying early. In this course, you'll study the time value of money and you’ll work with human mortality data to derive demographic markers (such as the life expectancy). Combining the basics of cash flow valuation with the calculation of survival and death probabilities in R will allow you to construct insightful tools to design life insurance products. You'll come out of this course understanding the valuation of life contingent claims: life annuities, which provide an income upon survival, and life insurance products, which pay a benefit upon death of the policyholder.

Förkunskapskrav

Intermediate R Foundations of Probability in R

1

Valuation of Cash Flows

Learn the basics of cash flow vectors and their valuation with discount factors. You will then evaluate investments based on their net present value and build your own mortgage calculator. Finally, you will learn about fixed and variable interest rates; and annual and monthly rates.

Cash flows and discounting

Present value of a cash flow

Net present value of investments

Anywhere, anytime?

Actuarial equivalence

Saving for university

Deposits of the saving plan

Change of period and term structure

The interest rates they are a-changin'

From yearly to monthly interest rate

Monthly mortgage loan payments

2

Life Tables

Life tables play a vital role in life insurance products. In this chapter you will work with data sets from the Human Mortality Database by building meaningful visualizations to study the evolution of mortality data over age and time. You will also use survival and death probabilities.

Random future lifetime

Like it's 1999!

Visualizing one year of mortality data

Men versus women

Binomial experiments

How likely is Cynthia to live to 100?

The number of deaths

Calculating probabilities

Multiplication rules!

Deferred mortality probabilities

Calculating life expectancies

Curtate vs complete life expectancy

Plotting life expectancies by age

Mortality rates over time

Cohort survival probabilities

3

Life Annuities

You will now act as an actuary working in a life insurance company. Learn about the basics of life annuity products and their valuation by working on cases ranging from simple life annuities to retirement plans.

To survive or not to survive

Short- and long-term

The whole, temporary and deferred life annuity

Ages, interest rates and the whole life annuity

A function to price a life annuity

Immediate vs due

Temporary vs lifelong

Guaranteed payments

Pension calculations ignoring mortality

Pension calculations accounting for mortality

On premium payments and retirement plans

A retirement plan for Miss Cathleen

From single to annual premium

A good deal? Outliving your life expectancy

4

Life Insurances

You will now deal with life insurance contracts. Learn how these products are relevant in your financial planning by designing whole life, temporary and endowment insurances.

Lucy and Kevin’s mortgage protection

Take it easy: a simple life insurance

The whole, temporary and deferred life insurance

Life annuity vs life insurance

Whole life insurance

Temporary life insurance

Deferred life insurance

Combined benefits

A life insurance plan for Miss Cathleen

Best of both worlds – the endowment insurance

Life Insurance Products Valuation in R

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