lifecontingencies (version 1.3.12)

axyn: Functions to evaluate life insurance and annuities on two heads.

Description

These functions evaluates life insurances and annuities on two heads.

Usage

axyn(tablex, tabley, x, y, n, i, m, k = 1, status = "joint", type = "EV", 
payment="advance")
Axyn(tablex, x, tabley, y, n, i, m, k = 1, status = "joint", type = "EV")

Value

A numeric value returning APV of chosen insurance form.

Arguments

tablex

Life X lifetable object.

tabley

Life Y lifetable object.

x

Age of life X.

y

Age of life Y.

n

Insured duration. Infinity if missing.

i

Interest rate. Default value is those implied in actuarialtable.

m

Deferring period. Default value is zero.

k

Fractional payments or periods where insurance is payable.

status

Either "joint" for the joint-life status model or "last" for the last-survivor status model (can be abbreviated).

type

A string, either "EV" for expected value of the actuarial present value (default) or "ST" for one stochastic realization of the underlying present value of benefits. Alternatively, one can use "expected" or "stochastic" respectively (can be abbreviated).

payment

The Payment type, either "advance" for the annuity due (default) or "arrears" for the annuity immediate. Alternatively, one can use "due" or "immediate" respectively (can be abbreviated).

Author

Giorgio A. Spedicato

Warning

The function is provided as is, without any warranty regarding the accuracy of calculations. The author disclaims any liability for eventual losses arising from direct or indirect use of this software.

Details

Actuarial mathematics book formulas has been implemented.

References

Actuarial Mathematics (Second Edition), 1997, by Bowers, N.L., Gerber, H.U., Hickman, J.C., Jones, D.A. and Nesbitt, C.J.

See Also

pxyt

Examples

if (FALSE) {
	data(soa08Act)
	#last survival status annuity
	axyn(tablex=soa08Act, tabley=soa08Act, x=65, y=70, 
		n=5,  status = "last",type = "EV")
    #first survival status annuity
	Axyn(tablex=soa08Act, tabley=soa08Act, x=65, y=70,
	status = "last",type = "EV")
	}