The paper presents the modelling techniques used on international practice for establishing life premiums quota. Thus, the calculus techniques used by the insurers are generally based on a series of indicators named mortality indicators which mainly point out the insured persons’ survival probability, the death probability and life expectancy at certain age. In Romania, these indicators are settled by National Institute of Statistics and they represent the basis for the calculation of the premiums quotes and for the elaboration by the insurers of premium tables. The benefit for the policyholder is to obtain insurance at a fair and competitive price and for the insurer, to maintain the experience of its portfolio in line with mortality assumptions.
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Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Annals of Computational Economics.
Find related papers by JEL classification: C00 - Mathematical and Quantitative Methods - - General - - - General C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data G00 - Financial Economics - - General - - - General G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies