Life Insurance: How With-Profits Products Work

Massimiliano Maggioni and Giuseppe Turchetti
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Massimiliano Maggioni: University of Milano
Giuseppe Turchetti: Sant’Anna School of Advanced Studies

Chapter 15 in Fundamentals of the Insurance Business, 2024, pp 333-339 from Springer

Abstract: Abstract The chapter starts with the definition of with-profits life insurance products. These products foresee an annual increase in the capital sum or annuity insured through awarding part of the profits earned from the investment of assets in funds. The formula of the actuarial equilibrium of performance is explained. In the following paragraph, the reader can learn the three elements distinguishing a with-profits contract. They are the technical rate, the minimum guaranteed return and the profit-sharing clause. At the end of the chapter, a numerical demonstration is offered for ease in comprehending the mechanics of how the revaluation of performances works.

Keywords: With-profits insurances; Rate for revaluation; Technical rate; Minimum guaranteed return; Profit-sharing clause; Cliquet form (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-319-52851-9_15

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DOI: 10.1007/978-3-319-52851-9_15

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