Dec 05, 2025  
2024-2025 Undergraduate Catalog 
    
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2024-2025 Undergraduate Catalog [NOTE!!!! THIS IS AN ARCHIVED CATALOG. FOR THE CURRENT CATALOG, GO TO CATALOG.NIU.EDU]

ACSC 451 - Life Contingencies and Payment Models

Premium calculations for life insurances and annuities via percentiles and the equivalence principle. Liability calculations for life insurances and annuities via the prospective, retrospective methods. Calculation of reserves for fully-discrete life insurances. Discuss the above for single and multiple-decrement models. Extend the present-value-of-benefit, present-value-of-loss-at-issue, present-value-of-future-loss random variables and liabilities to discrete-time Markov Chain models.

Prerequisites & Notes
PRQ: ACSC 450.

Credits: 3