DocumentCode
441743
Title
An optimal control model of the payment of benefit in life insurance
Author
Qian, Wei-Yi ; Ma, Yan-Fen ; Wang, Yan-Jie
Author_Institution
Dept. of Math., Bohai Univ., Jinzhou, China
Volume
3
fYear
2005
fDate
18-21 Aug. 2005
Firstpage
1368
Abstract
In this paper, we focus on discussing the continuous term insurance policy in the form of paying premium in wholesale and paying the death benefit at the moment of death of the insured. Then we establish an optimal model of the payment of benefit. By solving and discussing the solution of the optimal control model, we finally obtain the optimal form and find out the insured´s optimal stratagem.
Keywords
insurance; optimal control; actuarial present value; death benefit; insurance policy; life insurance payment benefit; net single premium; optimal control model; Aging; Cybernetics; Economic indicators; Equations; Insurance; Machine learning; Mathematics; Optimal control; Probability density function; Statistics; Net single premium; actuarial present value; utility function;
fLanguage
English
Publisher
ieee
Conference_Titel
Machine Learning and Cybernetics, 2005. Proceedings of 2005 International Conference on
Conference_Location
Guangzhou, China
Print_ISBN
0-7803-9091-1
Type
conf
DOI
10.1109/ICMLC.2005.1527156
Filename
1527156
Link To Document