Karl Borch
Abstract
A simple life insurance contract can be of two forms: (i) annuities paying specified amounts on fixed dates, provided that the insured is alive; or (ii) life insurances paying a specified amount at the death of the insured. All life insurance contracts can be built up as combinations of these two basic components.
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A simple life insurance contract can be of two forms: (i) annuities paying specified amounts on fixed dates, provided that the insured is alive; or (ii) life insurances paying a specified amount at the death of the insured. All life insurance contracts can be built up as combinations of these two basic components.
Key concepts: Life insurance, Actuarial science, Insurance policy, Business, Simple (philosophy), Economics, Philosophy, Epistemology