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The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
Reinsurance pure premium rate computing, add charges, taxes and reduction of treaty "As if" data involves the recalculation of prior years of loss experience to demonstrate what the underwriting results of a particular program would have been if the proposed program had been in force during that period. [1]
The problem is then to devise a way of combining the experience of the group with the experience of the individual risk to calculate the premium better. Credibility theory provides a solution to this problem. For actuaries, it is important to know credibility theory in order to calculate a premium for a group of insurance contracts. The goal is ...
The two methods yield identical results (assuming bases are the same for both prospective and retrospective calculations). As an example, consider a whole life insurance policy of one dollar issued on (x) with yearly premiums paid at the start of the year and death benefit paid at the end of the year.
An increased limit factor (ILF) at limit L relative to basic limit B can be defined as = + + + + + + ()where ALAE is the allocated loss adjustment expense provision, ULAE is the unallocated loss adjustment expense provision, and RL is the risk load provision.
The loading "refers to the amount of the premium necessary to cover other expenses, particularly sales expenses, and to allow for a profit". The gross rate "is the pure premium and the loading per exposure unit". Finally, the gross premium is the premium paid by the insured consisting of the gross rate multiplied by the number of exposure units ...
A: The Pension Benefit Guaranty Corporation (PBGC) is an agency of the United States government that was created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep ...
Zillmerisation relates to the valuation of a life insurance company by an actuary.. When new regular premium protection business (such as life or critical illness insurance) is written, the value of the company may reduce (when viewed on a regulatory basis) even if the business is likely to be profitable.