Thiele's differential equation as a tool in product development in life insurance

Citation
H. Ramlau-hansen,, Thiele's differential equation as a tool in product development in life insurance, Scandinavian actuarial journal , 1990(2-3), 1990, pp. 97-104
ISSN journal
03461238
Volume
1990
Issue
2-3
Year of publication
1990
Pages
97 - 104
Database
ACNP
SICI code
Abstract
In the paper Thiele's differential equation is used to derive premium and reserve formulas for some new life products where the element of insurance is kept at a minimum. The products have been introduced in Denmark in order to provide policies with characteristics similar to pure savings accounts offered by banks and other financial institutions.