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Caps and Floor Limits on Premium Periodic Unit-Linked Insurance with Minimum Guarantee
Putu Febani Wisanta, Bona Christanto Siahaan

Universitas of Indonesia


Unit-linked endowment insurance with a minimum guarantee not only provides life protection to customers until the end of the insurance contract period but also provides investment protection, especially stock investments that have high returns and high investment risks, so call options are needed to protect investments. This study discusses the calculation of premiums along with the caps and floor limits of premiums on unit-linked endowment insurance products with minimum guarantees using Monte Carlo simulations with stochastic and continuous model and numerical methods. unit linked insurance with stock investment and mortality tables in this study shows that in addition to gender, the initial age of the customer has a policy, insurance contract and amount minimum guarantee, the caps and floor limits of the premium are influenced by the proportion of investment from the premium. The interval between the caps and floor limits of the premium is wider if the investment proportion of the premium is small, so the insurance company can use the caps limits of the premium.

Keywords: unit-linked endowment insurance, minimum guarantee, caps and floor limits on premium

Topic: Financial Management and Accounting


Conference: The 4th Global Conference on Business, Management and Entrepreneurship (GCBME 2019)

Plain Format | Corresponding Author (Putu Febani Wisanta)

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