Risk and Insurance by Søren Asmussen & Mogens Steffensen

Author:Søren Asmussen & Mogens Steffensen
Language: eng
Format: epub
ISBN: 9783030351762
Publisher: Springer International Publishing

where now

where is the surrender value from the premium payment state, but evaluated at the time of surrender from the free policy state, . Since the surrender option in the free policy states can be exercised only if the policy holder is active, the policy is not stopped as long as the policy holder is disabled or dead. Thus, in those states V j+(t) just follows the standard Thiele differential equation. Only in the state (0, f) do we need to characterize the value via a variational inequality. We have that

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.