Exotic Unit-Linked Life Insurance Contracts
This article integrates aspects of traditional insurance with advances in financial economics, yielding proper valuation and premium assessments of insurance benefits linked to various financial assets. Several new types of unit-linked life insurance contracts are discussed, with substantial potential for real-life applications. Compared to usual unit-linked products, these contracts offer added flexibility and/or altered exposure to financial risk for the insured and/or the insurer. The single premiums of these policies are calculated as expectations under a risk-adjusted probability measure (equivalent martingale measure), satisfying no-arbitrage conditions in financial markets. The Geneva Papers on Risk and Insurance Theory (1996) 21, 35–63. doi:10.1007/BF00949050
Year of publication: |
1996
|
---|---|
Authors: | Ekern, Steinar ; Persson, Svein-Arne |
Published in: |
The Geneva Risk and Insurance Review. - Palgrave Macmillan, ISSN 1554-964X. - Vol. 21.1996, 1, p. 35-63
|
Publisher: |
Palgrave Macmillan |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Exotic unit-linked life insurance contracts
Ekern, Steinar, (1995)
-
Exotic unit-linked life insurance contracts
Ekern, Steinar, (1996)
-
Exotic Unit-Linked Life Insurance Contracts
Ekern, Steinar, (1998)
- More ...