APPLICATION OF PREMIUM ACCOUNTING AND INDIVIDUAL BENEFIT RESERVES FOR N-YEAR TERM LIFE INSURANCE, N-YEAR PURE ENDOWMENT AND N-YEAR ENDOWMENT INSURANCE

• Main Author: WENNO (NIM : 20814005), SISKA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/24315
• Institution: Institut Teknologi Bandung

Life insurance benefits based payment consists of n-year term life insurance, n-year pure endowment and n-year endowment insurance. In the process of compulsory insurance participants pay some money (premium) to receive benefits in accordance with the selected type of insurance and the agreement of both parties. Premium calculation using Mortality Table Indonesia (TMI), TMI contains the chance of dying in general that distinguished the sexes by age (years), so that the premiums earned only annual premium, whereas in reality the premium may also be paid several times within one (1) year. Besides someone dies can be due to several causes, such as death due to illness, accident and died normally but in TMI does not differentiate the chance of dying based on the third leading cause of death (multiple decrement) is, so premiums earned just in general to obtain certain benefits. Benefits paid by insurance companies can occur at any time, therefore the insurance company should be able to predict the funds that should be prepared at a certain time (reserves benefit). The accounting of premiums and reserves benefit are still using the application from abroad or manually (excel), so it is important to make computing applications premiums and reserves benefit in accordance with the Indonesian and the problems that occurred in Indonesia. This application is created using software Xojo. This application can calculate the annual premium or premiums with payments several times in one year, and be able to predict the reserves benefit that insurance companies should be prepared in general (single decrement) and multiple decrement models with high level of accuracy.