The Quantitative Analysis of the Influence of Chinese Life Table Update on the Life Insurance Premiums

The new life tables have been used to calculate premiums and reserves since 2006,which leads to the change of the mortality rate.According to the actuarial models,the paper analyzes the change of premiums when the new Chinese Life Insurance Life Table is brought into effect.The outcome shows that the mortality table update has great effect on the premiums of life insurance products,the decrease rate of premiums of male term life and endowment are less than those of the female,and it is vice versa for life annuities.But the change degree depends on age,insurance term,interest rate,gender,etc.