The comparison and analysis of life insurance premiums
between two life tables
Abstract
Since January 1th, 2006, "China's life insurance industry experience life (2000-2003)" will be as a life insurance company statutory duty to assess the reserve table and the standard premium of life insurance products reference tables, which replaced the "China Life Insurance industry experience life (1990-1993)." This will affect the key factor of The calculation of the life insurance premium - mortality.By using the life insurance actuarial models, Papers analy the affection of life insurance, annuities and both loyal and filially pious life insurance premiums and other basic life insurance products after updating the life tables from the quantitative point of view. The results show that after the life table updated,the life insurance premiums of regularly and both loyal and filially pious reduced, the rate of change in men’s premium is less than women’s, whereas the survival annuity, the result is opposite. Life Table updated will cause changes in mortality rate-sensitive life insurance products prices ,the prices of premium life insurance products will be changed by the market, it will be depended on age of the insured, the insurance period, interest rates and gender and other factors too.
Keywords： Life Tables; Actuarial model; Life insurance products; Premium; present value of Actuarial
