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An investigation into the financing of flexible endowment assurances

Published online by Cambridge University Press:  20 April 2012

P. E. B. Ford  and
N. B. Masters
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Extract

1.1. In the past ten years, traditional with-profit endowment assurances have been faced with severe competition from two new products, which offer considerable flexibility to the policyholder combined with certain guarantees not normally available in the traditional endowment policy.

The first of these new products, unit-linked assurance, has been analysed in some depth in recent papers submitted to the Institute, Faculty and Tokyo Congress. In particular, papers by Benjamin, Wilkie and Scott have developed stochastic models that have enabled the premiums and valuation reserves for maturity guarantees under these policies to be quantified with a much greater degree of certainty than had previously been the case.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 106 , Issue 2 , September 1979 , pp. 149 - 200
Copyright
Copyright © Institute and Faculty of Actuaries 1979

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References

REFERENCES

(1) Benjamin, S. (1976). Maturity Guarantees for Equity-Linked Policies. Proc. 20th International Congress of Actuaries, Tokyo, 2, 17.Google Scholar
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