This unit covers the analysis of cash flows dependent on uncertain events due to mortality and other factors. It introduces the concept of the expected present value of payments under various life insurance contracts, including whole life, term and endowment assurances; immediate and temporary annuities; and deferred assurances and annuities. The standard international actuarial notation in life insurance is used extensively. Probability models and life tables are used to calculate the expected present values accurately based on ultimate or select mortality. Furthermore, important concepts of pricing and reserving for future contingent liabilities are discussed. Equations of value are... -- Course Website
Instructor: Actuarial staff
Prerequisites: Admission to (BActStud or BCom-ActStud) and (ACST151(P) or ACST152(P)) and (ACST200(P) or ACST202(P)) and STAT272(P) and GPA of 2.50
