Modeling Joint Lives within Families
Olivier Cabrignac (),
Arthur Charpentier () and
Ewen Gallic ()
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Olivier Cabrignac: SCOR Global Life
Arthur Charpentier: UQAM - Université du Québec à Montréal = University of Québec in Montréal
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Family history is usually seen as a significant factor insurance companies look at when applying for a life insurance policy. Where it is used, family history of cardiovascular diseases, death by cancer, or family history of high blood pressure and diabetes could result in higher premiums or no coverage at all. In this article, we use massive (historical) data to study dependencies between life length within families. If joint life contracts (between a husband and a wife) have been long studied in actuarial literature, little is known about child and parents dependencies. We illustrate those dependencies using 19th century family trees in France, and quantify implications in annuities computations. For parents and children, we observe a modest but significant positive association between life lengths. It yields different estimates for remaining life expectancy, present values of annuities, or whole life insurance guarantee, given information about the parents (such as the number of parents alive). A similar but weaker pattern is observed when using information on grandparents.
Keywords: annuities; collaborative data; dependence; family history; genealogy; grandparents-grandchildren; information; joint life insurance; parents-children; whole life insurance (search for similar items in EconPapers)
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Working Paper: Modeling Joint Lives within Families (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:halshs-02871927
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