scholarly journals Money Back Plan towards Life Insurance

2019 ◽  
Vol 8 (2S8) ◽  
pp. 503-505
Keyword(s):  
Life Insurance ◽  
Advantages And Disadvantages

This project deals with the study about the need for the Life Insurance and to study about the Money Back Policies and its types. Terms and Conditions of the study. Advantages and Disadvantages of the study

scholarly journals Life Insurance Retirement Plans For High Income Individuals

2010 ◽  
Vol 8 (6) ◽  
Author(s):  
Johnny Fryar, Jr. ◽  
Meyer Drucker
Keyword(s):  
Risk Management ◽  
Monte Carlo ◽  
Life Insurance ◽  
Empirical Data ◽  
Financial Planning ◽  
Retirement Plans ◽  
Font Size ◽  
Net Worth ◽  
Advantages And Disadvantages ◽  
Art Form

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt 27.35pt; mso-pagination: none;"><span style="color: black; font-size: 10pt;"><span style="font-family: Times New Roman;">This paper examines the advantages and disadvantages of using life insurance retirement plans for high net worth individuals.<span style="mso-spacerun: yes;">&nbsp; </span>Though the advent of financial economics and simulations like Monte Carlo have introduced empirical data to financial planning, most advances are invented, developed, and later copied from the practices of leading advisors.<span style="mso-spacerun: yes;">&nbsp; </span>These advisors come from several different areas of focus using their expertise to solve the financial problems of their clients.<span style="mso-spacerun: yes;">&nbsp; </span>With methodologies coming from estate/tax attorneys, CPAs, risk management specialists, registered representatives/advisors, and CFPs the path to personal and intergenerational prosperity is not a clear one. As a result, financial planning has developed as more of an art form than a science.<span style="mso-spacerun: yes;">&nbsp; </span>The intent of this paper is to bring a controversial, but in certain cases effective, financial instrument to the discussion of financial planning.</span></span></p>

scholarly journals The Cox Regression Model for Claims Data m Non-Life Insurance

1998 ◽  
Vol 28 (1) ◽  
pp. 95-118 ◽  
Author(s):  
Niels Keiding ◽  
Christian Andersen ◽  
Peter Fledelius
Keyword(s):  
Regression Model ◽  
Life Insurance ◽  
Goodness Of Fit ◽  
Cox Regression ◽  
Calendar Time ◽  
Cox Regression Model ◽  
Advantages And Disadvantages ◽  
Standard Tool ◽  
Policy Holder

AbstractThe Cox regression model is a standard tool in survival analysis for studying the dependence of a hazard rate on covariates (parametrically) and time (nonparametrically). This paper is a case study intended to indicate possible applications to non-life insurance, particularly occurrence of claims and rating.We studied individuals from one Danish county holding policies in auto, property and household insurance simultaneously at some point during the four year period 1988-1991 in one company. The hazard of occurrence of claims of each type was studied as function of calendar time, time since the last claim of each type, age of policy holder, urbanization and detailed type of insurance. Particular emphasis was given to the technical advantages and disadvantages (particularly the complicated censoring patterns) of considering the nonparametrically underlying time as either calendar time or time since last claim. In the former case the theory is settled, but the results are somewhat complicated. The latter choice leads to several issues still under active methodological development. We develop a goodness-of-fit criterion which shows the lack of fit of some models, for which the practical conclusions might otherwise have been useful.

On Governmental Regulation of Life Insurance in the United States of America

1897 ◽  
Vol 33 (4) ◽  
pp. 320-344 ◽  
Author(s):  
Sheppard Homans
Keyword(s):  
United States ◽  
Great Britain ◽  
Supreme Court ◽  
Life Insurance ◽  
United States Of America ◽  
The United States ◽  
Governmental Regulation ◽  
Advantages And Disadvantages ◽  
Unique Position ◽  
Governmental Intervention

As the members of the Institute are doubtless aware, government in the United States differs in at least one important particular from that in Great Britain. In the former country all legislation must conform to the requirements of a written Constitution, and such conformity or non-conformity is decided in each case as it arises, without appeal, by a Supreme Court. In the latter country, on the contrary, the validity or otherwise of any Act of Parliament is decided by unwritten traditions and evolutions developed by the growth and experience of centuries. It is not my object or province to discuss the relative advantages and disadvantages of the two systems; I merely state the fact which must be clearly kept in view in order to understand the unique position of life insurance in the United States as regards governmental intervention.

Realistic reporting of life insurance company policy liabilities and profits: developments in Anglo-American countries

1994 ◽  
Vol 121 (2) ◽  
pp. 441-458 ◽  
Author(s):  
M. B. Adams ◽  
C. N. W. Scott
Keyword(s):  
Life Insurance ◽  
Point Of View ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Advantages And Disadvantages ◽  
Valuation Method ◽  
Company Policy ◽  
Long Time ◽  
Anglo American

AbstractThis paper examines international developments in life insurance generally accepted accounting practice (GAAP) for policy valuation and profit recognition in four major Anglo-American markets—the U.K., Australia, the U.S.A. and Canada. Each valuation method examined has its advantages and disadvantages with respect to the needs of preparers and users of the annual corporate reports of life insurance companies. The paper documents that the statutory basis and U.S. GAAP are considered to have substantive deficiencies. In contrast, the U.K. accruals method, the Australian margin on services method and Canadian GAAP have much to commend them, particularly with regard to their flexibility to accommodate valuation adjustments for unexpected events. Nevertheless, from the preparers' point of view, the systems which would have to be developed to facilitate the U.K. accruals and Australian margin on services methods would be difficult and costly to implement. Profit reporting under Canadian GAAP is also sensitive to changes in actuarial reserving assumptions. The authors conclude that, since national preferences in actuarial and accounting practices are inevitable and because the product-market structures of life insurance markets are so distinctive, international harmonisation of life office GAAP is unlikely to occur for a very long time.

scholarly journals Analysis of Enterprise Profitability Based on Dupont Analysis Method -Taking China Life Insurance (Group) Company as an Example

2021 ◽  
Vol 233 ◽  
pp. 01173
Author(s):  
Ding Li
Keyword(s):  
Life Insurance ◽  
Financial Analysis ◽  
Analysis Method ◽  
Enterprise Development ◽  
Group Company ◽  
Advantages And Disadvantages ◽  
Insurance Group ◽  
Dupont Analysis ◽  
China Life ◽  
Core Indicator

Obtaining profits is the main purpose of enterprise development, and profitability is the core indicator for measuring the development status and prospects of enterprises. DuPont analysis method is a comprehensive and effective financial analysis method to evaluate the profitability of enterprises. This article will focus on DuPont analysis method, supplemented by factor analysis method and comparative analysis method to comprehensively analyze the profitability of China Life Insurance Co., Ltd. Analyze the advantages and disadvantages of its profitability, then, give some relevant reasonable suggestions.

scholarly journals Advantages and disadvantages of loss reserving methods in non-life insurance

2019 ◽  
Vol 29 (4) ◽  
pp. 553-561
Author(s):  
Jelena Kocovic ◽  
Mirela Mitrasevic ◽  
Dejan Trifunovic
Keyword(s):  
Comparative Analysis ◽  
Life Insurance ◽  
Ratio Method ◽  
Practical Case ◽  
Loss Ratio ◽  
Advantages And Disadvantages ◽  
Chain Ladder Method ◽  
Loss Reserving ◽  
Chain Ladder

We analyse characteristics of the three most commonly used methods for estimating loss reserves in non life insurance: the chain ladder method, the loss ratio method, and the Bornhuetter-Ferguson method. Our aim is to give a comparative analysis of the results obtained from applying these methods to a practical case, and to put emphasis on their advantages and disadvantages.

scholarly journals Development of life insurance market in Ukraine

2020 ◽  
pp. 169-174
Author(s):  
Kateryna Tretiak ◽  
Vitaliia Demchenko
Keyword(s):  
Life Insurance ◽  
Negative Impact ◽  
Insurance Market ◽  
Pension Insurance ◽  
Additional Material ◽  
Minimum Income ◽  
Advantages And Disadvantages ◽  
Research Findings ◽  
Main Components ◽  
Effective Development

Purpose. The aim of the article is to study the main problems faced by the domestic life insurance market, substantiation of the negative impact and identification of opportunities for its future development. Methodology of research. The research is based on scientific and practical developments of scientists and specialists. The following methods are used to achieve this purpose, among them are analytical (when analyzing the main components of the life insurance market); generalization (when compiling data on the assessment of the life insurance services segment functioning in order to identify patterns of its trends); evaluation and inference (to summarize the subject of the research). Findings. Insurers’ dynamics in the domestic insurance market in recent years in terms of their numbers have been analyzed; an assessment of the structure in terms of gross and net insurance premiums and payments has been substantiated. The comparative characteristics of digital indicators of the Ukrainian and European life insurance markets have been considered. The issue of inclusion of insurance services in social programs and urgent deterrents of its solution in Ukraine has been studied. The advantages and disadvantages of life insurance areas (the accumulative pension, the insurance against accidents at work) have been analyzed. An assessment of the composition of the social package in the Ukrainian insurance market and the importance of each component, namely the basic social guarantees and additional material benefits, taking into account the available potential has been done. Originality. Theoretical and practical foundations of life insurance market development have been deepened on the basis of cooperation between the state, which at the same time assumes responsibility for maintaining the minimum income of all citizens, and also maximally stimulates the development of various forms of non-state insurance in order to save life, health and income. Practical value. The results of the research can be the basis for future scientific exploration in the field of effective development and functioning of the life insurance market. Key words: insurance, life insurance, accumulative pension insurance, insurance of working accidents, life insurance market.

Ruin Problems: Simulation or Calculation?

1996 ◽  
Vol 2 (3) ◽  
pp. 727-740 ◽  
Author(s):  
D.C.M. Dickson ◽  
H.R. Waters
Keyword(s):  
Life Insurance ◽  
Ruin Probabilities ◽  
Recursive Procedure ◽  
Probability Of Ruin ◽  
Advantages And Disadvantages ◽  
Simulation Techniques ◽  
Time Period ◽  
Insurance Portfolio ◽  
Aggregate Claims

ABSTRACTIn this paper we use a case study of a non-life insurance portfolio to demonstrate how recent research in ruin theory can be applied to solvency problems. By approximating the aggregate claims distribution for the portfolio by a translated gamma distribution, we estimate ruin probabilities through a recursive procedure when the insurer earns investment income on its surplus. We also show the results of applying simulation techniques to this problem, and discuss some advantages and disadvantages of simulation as a means of assessing ruin probabilities. Finally we discuss the calculation of the probability of ruin at the end of a specified time period.

Demutualisation of a United Kingdom Mutual Life Insurance Company

1992 ◽  
Vol 43 ◽  
pp. 278-375
Author(s):  
P. D. Needleman ◽  
G. Westall
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Advantages And Disadvantages ◽  
Financial Position ◽  
Guidance Note ◽  
Open Fund ◽  
The Impact

AbstractThe paper firstly examines the way in which U.K. mutuals operate and the forces which are leading mutuals to consider demutualisation. Demutualisation is normally accomplished by a Scheme of Transfer under Section 49 of the Insurance Companies Act 1982. The role of the directors and actuaries is discussed, including the impact of the Institute's latest Guidance Note (GN15).The protection of policyholders' reasonable expectations, the value of membership rights and the basis of dealing with any orphan surplus are the central problems. The paper examines them in the context of both the open fund and closed fund situation and shows how they may be resolved.A simple model is used to project the financial position of both an open and closed fund in a demutualised company. The relative advantages and disadvantages of each indicate that different courses of action may be appropriate for mutuals in differing financial positions.

Demutualisation of a United Kingdom mutual life insurance company

1991 ◽  
Vol 118 (3) ◽  
pp. 321-399 ◽  
Author(s):  
P. D. Needleman ◽  
G. Westall
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Advantages And Disadvantages ◽  
Financial Position ◽  
Guidance Note ◽  
Open Fund ◽  
The Impact

ABSTRACTThe paper firstly examines the way in which U.K. mutuals operate and the forces which are leading mutuals to consider demutualisation. Demutualisation is normally accomplished by a Scheme of Transfer under Section 49 of the Insurance Companies Act 1982. The role of the directors and actuaries is discussed, including the impact of the Institute's latest Guidance Note (GN15).The protection of policyholders' reasonable expectations, the value of membership rights and the basis of dealing with any orphan surplus are the central problems. The paper examines them in the context of both the open fund and closed fund situation and shows how they may be resolved.A simple model is used to project the financial position of both an open and closed fund in a demutualised company. The relative advantages and disadvantages of each indicate that different courses of action may be appropriate for mutuals in differing financial positions.

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