Last-survivor insurance functions

Computes temporary and whole-life insurance values for two lives under the last-survivor status.

Usage

Axybarn1(x, y, n, i, tbl = NULL, model = NULL, ...)

Axybarn(x, y, n, i, tbl = NULL, model = NULL, ...)

Axybar(x, y, i, tbl = NULL, model = NULL, ..., k_max = 5000L, tol = 1e-12)

Arguments

x

Age of the first life. May be scalar or vector.

y

Age of the second life. May be scalar or vector.

n

Term in years. May be scalar or vector.

i

Effective annual interest rate. May be scalar or vector.

tbl

Optional life table object.

model

Optional parametric survival model.

...

Additional parameters passed to the survival model or life-table functions.

k_max

Maximum number of terms used for an infinite series.

tol

Numerical tolerance used to assess convergence.

Value

A numeric vector of actuarial present values.

Details

Axybarn1() computes temporary insurance payable at the second death within the term.

Axybarn() computes last-survivor endowment insurance.

Axybar() computes last-survivor whole-life insurance.