An algorithm on premium calculation of individual life insurance

• Main Authors: Licas, Cloyd Anthony S., Galido, Francis Anthony
• Format: text
• Language: English
• Published: Animo Repository 1990
• Subjects: Algorithms; Programming (Mathematics); Insurance, Life > Rates and tables; Insurance, Life > Premiums
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16012
• Institution: De La Salle University

This thesis quantitatively formulates a mathematical program for the premium computation of individual life insurance. It discusses various concepts in actuarial science vital to a conceptual understanding of the equations involved. The algorithm calculates for the net single premium, annual premium, gross annual premium and fractional premium of whole, term and endowment life insurance. The menu-driven program takes into account the 1958 CSO Mortality Table and is written into Turbo Pascal (version 4.0).