This concise introduction to life contingencies, the theory behind the actuarial work around life insurance and pension funds, will appeal to the reader who likes applied mathematics. In addition to the model of life contingencies, the theory of compound interest is explained and it is shown how mortality and other rates can be estimated from observations. The probabilistic model is used consistently throughout the book.
For this second, expanded edition numerous exercises (with answers and solutions) were added.
A modern introduction to the theory of life contingencies, using the probabilistic model. A survey of the mathematics of compound interest is given, and the numerical evaluation of the distribution of aggregate claims, statistical problem of estimating death rates and other probabilities of decrement are discussed. For this second, expanded edition numerous exercises (with solutions) have been added.
Samuel H. Cox
Funds Lebensversicherung Versicherung Versicherungsmathematik actuarial mathematics actuarial science acturial mathematics addition applied mathematics insurance insurance mathematics life contingencies life insurance mathematics model