5. Life Insurance

  1. S. David Promislow

Published Online: 13 JAN 2011

DOI: 10.1002/9781119971528.ch5

Fundamentals of Actuarial Mathematics, Second Edition

Fundamentals of Actuarial Mathematics, Second Edition

How to Cite

Promislow, S. D. (2010) Life Insurance, in Fundamentals of Actuarial Mathematics, Second Edition, John Wiley & Sons, Ltd, Chichester, UK. doi: 10.1002/9781119971528.ch5

Author Information

  1. York University, Toronto, Canada

Publication History

  1. Published Online: 13 JAN 2011
  2. Published Print: 17 DEC 2010

ISBN Information

Print ISBN: 9780470684115

Online ISBN: 9781119971528



  • life insurance, life insurance policy - contract between insurer and policyholder;
  • life insurance, in return for payment of premiums - insurer, paying death benefit upon death of policyholder;
  • life insurance premium calculation - policyholders, paying by periodic premiums;
  • life insurance policies, different types - death benefits for fixed number of years;
  • combined insurance–annuity benefits - life insurance and life annuity benefits in same contract;
  • calculating single premium - for endowment insurances, two separate contracts;
  • insurances, as annuities - splitting identity for life annuities;
  • summary of formulas;
  • general insurance–annuity identity;
  • spreadsheet applications - death benefit vector into column G


This chapter contains sections titled:

  • Introduction

  • Calculating life insurance premiums

  • Types of life insurance

  • Combined insurance–annuity benefits

  • Insurances viewed as annuities

  • Summary of formulas

  • A general insurance–annuity identity

  • Standard notation and terminology

  • Spreadsheet applications

  • Exercises