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 Life Insurance and Superannuation Models - ACTL3002
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 Science students
   
 
School:  Actuarial Studies Unit
 
   
 
Campus: Kensington Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.125 (more info)
 
 
Contact Hours per Week: 3
 
 
Enrolment Requirements:
 
 
Prerequisite: ACTL1001, ACTL2003
 
 
Fee Band: 2 (more info)
 
 
Further Information: See Class Timetable
 
  

Description

This course covers the actuarial mathematics and models for use in the analysis and actuarial management of life insurance and superannuation contracts. Topics covered include: the main forms of life insurance and annuity contracts, disability and long term care contracts and superannuation fund benefits; actuarial notation and the life table; moments of the value of the benefit payments; Thiele's differential equation for policy values; stochastic modelling of claims and benefit payments; gross premiums, net premiums, policy values and reserves; allowing for expenses and inflation; use of discounted emerging costs and profit tests; asset shares in life insurance; termination and alteration values; cost of guarantees; joint life functions; valuation of disability insurance contracts.

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