Ubezpieczenia na życie jako niejednorodne łańcuchy markowa
Non-homogenous markov chain models for life insurance

Summary/Abstract: The paper presents a coherent concept of non-homogenous Markov chains applied to describing life insurance contracts. Life insurance models based on the discrete-time approach are considered. It is assumed that in case of the multiple life insurance the random variables describing the future life time are independent. In the paper the method of premium and reserve calculation are discussed. Special attention is paid to the benefit matrix which defines different types of insurance contracts. The algebraic operations on insurance contracts are also introduced, and their basic properties are demonstrated, together with their practical applications.

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