S

Dx+n
Pure Endowment
A :n =
x
Dx

Life Policies

1. whole life annuities:
Whole life (at once)
Nx
due
a x = R . D
x

Whole life (at once)
Nx+1
ordinary
ax = R . D
x

Whole life (deferred)
Nx+k
k
due
/a x = R . D
x

Whole life (deferred)
Nx+k+1
k
ordinary
/ax = R . D
x

2. Temporary life annuities:
Temporary (at once)
N N
due
a x : n = R . x D x+n
x

Temporary (at once)
N
Nx+n+1
ordinary
ax : n = R . x+1
Dx

Temporary (deferred)
N
N
k
due
/a x : n = R . x+k D x+k+n
x

1

: n = R . Nx+k+1 D Nx+k+n+1
x

)Temporary (deferred
k
ordinary
/ax

Death Policies

1.Whole life insurance:

Mx
)Whole life (at once
R
A
=
R
.
x

Dx
Mx+k
Dx

Whole life (deferred) k R

/Ax = R

2. Term insurance:
Mx - Mx+n
)Term (at once
R
Ax : n = R .

Dx
Mx+k - Mx+k+n
Dx

: n= R .

)Term (deferred
k
R
/A
x

* ( 30):
First payment at First payment after (k=5) years
) (deferred 5 years age 35
5





First payment oncely First payment at age 30

2


Last payment
Temporary for (n) years

Whole life annuity
) , (k ) , (n )(X
X+n-1
X+n+k-1
X+n
X+n+k
w-1 w
V

n-1

( V )

w-1-x

w-x

Cx = dx . Vx+1
Dx = x . Vx
Cx+1 = dx+1 . Vx+2
Dx+1 = x+1 . Vx+1
Cw-1 = dw-1 . Vw
Dw-1 = w-1 . Vw-1
M = C

N = D
Dx ++ Dw-1 = Nx
Dx+1 ++ Dw-1 = Nx+1
Dx+k ++ Dw-1 = Nx+k
Dx ++ Dx+n-1 = Nx Nx+n
Dx ++ Dx+n = Nx Nx+n+1
Dx+k ++ Dx+n+k-1 = Nx+k Nx+n+k
Dx+k ++ Dx+n+k = Nx+k Nx+n+k+1