Abstract
Until now, applications of ordering of risks in individual life insurance have been based on the future lifetime of the insured, some of which are partly reconsidered and extended in this contribution. For instance ordering of risks is used to investigate assumptions about the distribution of the future lifetime, or to find actuarial inequalities. It is shown that ordering or risks in individual life insurance can be extended to comparing loss functions which have distribution functions that are in fact transformations of one and the same distribution function of the future lifetime of the insured. As an application this approach to ordering of risks will be used to discriminate between actuarially equivalent insurances and also te generalize earlier results on optimal insurance plans.
Published Version
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