Distribution of Surplus in Life Insurance

Henrik Ramlau-Hansen

ASTIN Bulletin, 1991, vol. 21, issue 1, 57-71

Abstract: This paper discusses distribution of surplus in life insurance within a general Markov chain framework. A conservative interest rate and a conservative set of transition intensities are used for reserving purposes whereas more realistic assumptions are used for the purpose of distributing surplus. The paper examines various actuarial aspects of distributing surplus through either cash bonuses, terminal bonuses or increased benefits. The results are illustrated by some examples.

Date: 1991
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