Abstract
Because of the recent proposals for changes in the benefit structure for Workmen's (Worker's) Compensation laws on both the federal and state legislative levels, the evaluation of law amendment factors as a result of such legislative proposals becomes an everyday encounter for the casualty actuary concerned with this line of insurance. An important and involved part of such evaluations deals with survivor benefit provisions for both fatal and permanent and total cases. The analysis of survivor beneficiary classes is traditionally done according to Fratello's method. The use of a combination of multiple life, multiple decrement multiple life, and reversionary annuities enables the evaluation of each dependency class reflecting exactly when and who should be receiving compensation at their respective benefit levels according to the specification of the actual or proposed Workmen's Compensation law. This chapter presents a study directed toward improving the assignment and evaluation of the life annuities associated with each of the beneficiary dependency classes. The calculation of the annuity values is done by the use of generalized commutation functions constructed directly from life and remarriage tables.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
