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Models for Variable Premiums Payable to Benevolent Funds

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dc.contributor.author Chora Damary Rehema, Fredrick Onyango, Joshua Were
dc.date.accessioned 2021-01-07T07:07:28Z
dc.date.available 2021-01-07T07:07:28Z
dc.date.issued 2020
dc.identifier.uri https://repository.maseno.ac.ke/handle/123456789/3471
dc.description.abstract he application of multiple life actuarial calculations have been studied by many authours for instance Elizondo [5] studied the construction of multiple decrement models from associated single decrement experiences. He posits that it is convenient to use the survival functions for the projection of future obligations in cash flows. Bowers [2] studied the actuarial calculations which are common in estate and gift taxation. The actuarial calculation is also common in insurance where stipulated payment called the benefit, one party (the insurer) agrees to pay to the other (the policyholder or his designated beneficiary) a defined amount (the claim payment or benefit) upon the occurrence of a specific loss while the insured pays periodic payment called premium. SACCOs and institution provide benevolent in terms of insurance against some losses, especially death. Unfortunately such organizations determine their premiums arbitrarily, thus one cannot tell whether such products are degenerating or not, this is because in such bodies benevolent funds and the mainstream operation fund are usually confounded. In this paper we develop models for variable premiums for Saccos and Institutions providing benevolent funds, that is premiums is dependent on the number of beneficiaries. We will use models of joint life, last life and multiple decrements to develop this model. en_US
dc.publisher Hikari Ltd. en_US
dc.subject Contributor, Beneficiary, Actuarial Present Value, Annuity,Joint life, Multiple decrement and Premiums en_US
dc.title Models for Variable Premiums Payable to Benevolent Funds en_US
dc.type Article en_US


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