Module Catalogues, Xi'an Jiaotong-Liverpool University

Module Code: MTH214
Module Title: Life Insurance Mathematics II
Module Level: Level 2
Module Credits: 5.00
Semester: SEM2
Originating Department: Mathematical Sciences
Pre-requisites: MTH217

 Aims This module is a continuous course of Life Insurance Mathematics I. Students are able to evaluate reserves, calculate retirement benefits and carry out pension plans. Students are also required to understand multiple decrements models and interest rate risk.
 Learning outcomes A Analyze and calculate reserves for insurances and annuities and describe the prospective and retrospective reserves. B Construct multiple state models C Apply pension mathematical models to price the product D Evaluate interest rate risk for life insurance product E Design universal life product F Understand the principal forms of heterogeneity within a population and evaluate the methods of analyzing data for heterogeneity
 Method of teaching and learning This module is delivered through formal lectures and tutorial classes
 Syllabus • Evaluating benefit reserve prospectively or retrospectively, calculating policy value using recursive formula.• Single decrement and multiple decrement models, premiums and reserves for multiple state models.• Probability distributions of joint life and last survivor models, annuity and insurance functions calculation for multiple decrement models.• Setting DC contribution, the service table and valuation of benefits.• Valuation of insurances and life annuities using yield curves.• Universal life production.• The principal forms of heterogeneity within a population and the ways in which selection can occur.
Delivery Hours
 Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total Hours/Semester 39 13 98 150

## Assessment

 Sequence Method % of Final Mark 1 Assignments 15.00 2 Midterm Exam 15.00 3 Final Exam 70.00
 Module Catalogue generated from SITS CUT-OFF: 6/5/2020 8:58:09 PM