I'm looking at MATE notecards 164, 165, and 166.
The retrospective formula for policy reserves is a summation from 0 to t-1 of tpx*v^i-t[net premium- claim cost]. I thought the retrospective formula accumulates from time 0 to t-1 the difference of received net premiums and paid claims. Why aren't we using (1+i)^i-t*1/tpx?
Is the 2 year preliminary term prospective formula the same on a per survivor basis as policy issue basis? It seems that way btw notecards 164 and 165.
On notecard 166, why isn't the dac formula using an accumulation interest factor?
The retrospective formula for policy reserves is a summation from 0 to t-1 of tpx*v^i-t[net premium- claim cost]. I thought the retrospective formula accumulates from time 0 to t-1 the difference of received net premiums and paid claims. Why aren't we using (1+i)^i-t*1/tpx?
Is the 2 year preliminary term prospective formula the same on a per survivor basis as policy issue basis? It seems that way btw notecards 164 and 165.
On notecard 166, why isn't the dac formula using an accumulation interest factor?
Policy reserve formulas
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