Mean present value of loss at duration t for whole life insurance

Computes the conditional mean \(E[{}_tL_x \mid K_x \ge t]\) for a fully discrete whole life insurance.

Usage

ELtx(x, t, i, P, model = NULL, ..., tbl = NULL)

Arguments

x

Issue age.

t

Duration.

i

Effective annual interest rate.

P

Annual premium.

model

Optional parametric survival model name.

...

Additional model parameters.

tbl

Optional life table object.

Value

A numeric vector of values.

Details

Under the equivalence-principle premium, this equals the prospective reserve \({}_tV_x\).

Examples

prem <- Px(40, i = 0.05, model = "uniform", omega = 100)
ELtx(40, t = 10, i = 0.05, P = prem, model = "uniform", omega = 100)
#> [1] 0.07250474