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Last data update: 2014.03.03

R: Multiple lifes insurances and annuities

Axyzn

R Documentation

Multiple lifes insurances and annuities

Description

Function to evalate the multiple lives insurances and annuities

Usage

Axyzn(tablesList, x, n, i, m, k = 1, status = "joint", type = "EV", 
power=1)
axyzn(tablesList, x, n, i, m, k = 1, status = "joint", type = "EV", 
power=1, payment="advance")

Arguments

`tablesList`	A list whose elements are either lifetable or actuarialtable class objects.
`x`	A vector of the same size of tableList that contains the initial ages.
`n`	Lenght of the insurance.
`i`	Interest rate
`m`	Deferring period.
`k`	Fractional payment frequency.
`status`	Either "joint" (for the joint-life status model) or "last".
`type`	"EV", for expected value. "ST" for stochastic value.
`power`	The power of the APV. Default is 1 (mean).
`payment`	Payment type: "advance" default is the annuity due, otherwise annuity due.

Details

In theory, these functions apply the same concept of life insurances on one head on multiple heads.

Value

The insurance value is returned.

Note

These functions are the more general version of axyn and Axyn.

Author(s)

Giorgio Alfredo Spedicato, Kevin J. Owens.

References

Broverman, S.A., Mathematics of Investment and Credit (Fourth Edition), 2008, ACTEX Publications.

Examples

	data(soaLt)
	soa08Act=with(soaLt, new("actuarialtable",interest=0.06,
	x=x,lx=Ix,name="SOA2008"))
	#evaluate and life-long annuity for an aged 65
	listOfTables=list(soa08Act, soa08Act) 
	#Check actuarial equality
	axyzn(listOfTables,x=c(60,70),status="last")
	axn(listOfTables[[1]],60)+axn(listOfTables[[2]],70)-
	axyzn(listOfTables,x=c(60,70),status="joint")