ACTU 304: Life Contingencies


To help students to know the fundamental techniques relevant to the valuation of cash flows which are a function of death, survival and other uncertain risks. Models that depict time until death, analysis of probability distributions and present values associated with multiple decrement and multiple life models. Application of probability to problems of life and death. The determination of premiums for insurances and annuities in discrete and continuous cases. Single life annuity and life insurance loss random variables and their probability distributions with application to analysis of benefits, premiums, net premiums and net premium reserves. Mortality table, measures of mortality, force of mortality graduation. The identity of the forces.