Development of approaches to price a waiver of premium upon disability rider based on provision terms set forth by John Hancock Insurance and available data. Approaches involved random variables; age at disablement, duration of disability, and age at death. A rider premium was calculated such that the random loss (a function of those random variables) had an expected value of zero. Through data collection and SAS programming, an expense-loaded rider premium was calculated as a percentage of base premium.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Baptista, Jovanna Rose.
• Jaeger, Robert A.
• Kennedy, Larissa L.

Publisher

• Worcester Polytechnic Institute

Identifier

• 00D038M

Advisor

• Wiedie, Ann H.

Year

• 2000

Sponsor

• John Hancock Mutual Life Insurance Company

Date created

• 2000-01-01

Resource type

• Major Qualifying Project

Major

• Actuarial Mathematics

Rights statement

• In Copyright