MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS
Unit-linked contracts are wrapped with some death, maturity and accumulation guarantees such as the guaranteed minimum maturity benefit, the guaranteed minimum death benefit, the guaranteed minimum accumulation benefit, the guaranteed minimum income benefit, and/or the guaranteed minimum surrender b...
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| Format: | Article |
| Language: | English |
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Romanian Foundation for Business Intelligence
2015-04-01
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| Series: | SEA: Practical Application of Science |
| Subjects: | |
| Online Access: |
http://seaopenresearch.eu/Journals/articles/SPAS_7_25.pdf
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| _version_ | 1828807670717480960 |
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| author | Cristina CIUMAȘ Diana-Maria CHIȘ |
| author_facet | Cristina CIUMAȘ Diana-Maria CHIȘ |
| author_sort | Cristina CIUMAȘ |
| collection | DOAJ |
| description | Unit-linked contracts are wrapped with some death, maturity and accumulation guarantees such as the guaranteed minimum maturity benefit, the guaranteed minimum death benefit, the guaranteed minimum accumulation benefit, the guaranteed minimum income benefit, and/or the guaranteed minimum surrender benefit. According to Romanian legislation which regulates the unit-linked life insurance market, unit-linked life insurance contracts pass most of the investment risk to the policyholder and involve no investment risk for the insurer. Although the Romanian legislation authorizes the Romanian insurers to offer unit-linked contracts without investment guarantees, this research provides a proposal of a theoretical and empirical basis for modelling liabilities for unit-linked insurance contracts with incorporated investment guarantees. The aim of this study is to offer an optimal theoretical approach for simulating liabilities for unit-linked life insurance contracts with incorporated death benefit and maturity benefit. |
| first_indexed | 2024-12-12T08:29:15Z |
| format | Article |
| id | doaj.art-33dfa5ac05314208b2d8a876104c1d24 |
| institution | Directory Open Access Journal |
| issn | 2360-2554 |
| language | English |
| last_indexed | 2024-12-12T08:29:15Z |
| publishDate | 2015-04-01 |
| publisher | Romanian Foundation for Business Intelligence |
| record_format | Article |
| series | SEA: Practical Application of Science |
| spelling | doaj.art-33dfa5ac05314208b2d8a876104c1d242022-12-22T00:31:09ZengRomanian Foundation for Business IntelligenceSEA: Practical Application of Science2360-25542015-04-01III7 (1/2015)165170seapas:y:2015:i:7:p:165-170MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTSCristina CIUMAȘ0Diana-Maria CHIȘ1 Faculty of Economics and Business Administration, Babeş-Bolyai University, Cluj-Napoca Faculty of Economics and Business Administration, Babeş-Bolyai University, Cluj-Napoca Unit-linked contracts are wrapped with some death, maturity and accumulation guarantees such as the guaranteed minimum maturity benefit, the guaranteed minimum death benefit, the guaranteed minimum accumulation benefit, the guaranteed minimum income benefit, and/or the guaranteed minimum surrender benefit. According to Romanian legislation which regulates the unit-linked life insurance market, unit-linked life insurance contracts pass most of the investment risk to the policyholder and involve no investment risk for the insurer. Although the Romanian legislation authorizes the Romanian insurers to offer unit-linked contracts without investment guarantees, this research provides a proposal of a theoretical and empirical basis for modelling liabilities for unit-linked insurance contracts with incorporated investment guarantees. The aim of this study is to offer an optimal theoretical approach for simulating liabilities for unit-linked life insurance contracts with incorporated death benefit and maturity benefit. http://seaopenresearch.eu/Journals/articles/SPAS_7_25.pdf GuaranteeLiabilityUnit-LinkedDeath BenefitMaturity Benefit |
| spellingShingle | Cristina CIUMAȘ Diana-Maria CHIȘ MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS SEA: Practical Application of Science Guarantee Liability Unit-Linked Death Benefit Maturity Benefit |
| title | MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS |
| title_full | MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS |
| title_fullStr | MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS |
| title_full_unstemmed | MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS |
| title_short | MODELLING THE GUARANTEE LIABILITY UNDER UNIT-LINKED CONTRACTS |
| title_sort | modelling the guarantee liability under unit linked contracts |
| topic | Guarantee Liability Unit-Linked Death Benefit Maturity Benefit |
| url |
http://seaopenresearch.eu/Journals/articles/SPAS_7_25.pdf
|
| work_keys_str_mv | AT cristinaciumas modellingtheguaranteeliabilityunderunitlinkedcontracts AT dianamariachis modellingtheguaranteeliabilityunderunitlinkedcontracts |