Gompertz–Makeham parameter estimations and valuation approaches: Turkish life insurance sector

A Study on Modeling of Lifetime with Right-Truncated Composite Lognormal-Pareto Distribution: Actuarial Premium Calculations

“…Dickson et al [9] and Menge and Glover [10] also provided methods for calculating the quantities that are important in actuary, such as the probability of life and death, life expectancy, premium for whole life insurance and term life insurance under the single and the joint life states in detail. There are studies that is made theoretical premium calculations using known mortality laws such as De Moivre, Gompertz and Makeham [11][12][13][14][15][16][17]. Recently, lognormal and Pareto distributions have been used by Büyükyazıcı and Karagül [18] to calculate the reinsurance premium in the insurance area.…”