Unobserved Heterogeneity; Process and Parameter Effects in Life Insurance

Jaap Spreeuw and Henk Wolthuis
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Henk Wolthuis: University of Amsterdam

No 97-131/4, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: In this paper life insurance contracts based on an urn-of-urns model, with age-at-death asobservable variable, are analyzed. Premium payment functions based on the principles of“equivalence on an individual level” and “equivalence on a group level” are compared. Boththe aggregate loss and its second moment for an individual contract are split in severalcomponents. Life insurance contracts are compared with non-life insurance contracts, alsowith respect to solidarity.

Date: 1997-12-18
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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:19970131

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