Konverzia extrarizík do špeciálnych poistných podmienok v životnom poistení
CONVERSION OF EXTRA RISKS INTO SPECIAL INSURANCE CONDITIONS IN THE LIFE INSURANCE

Summary/Abstract: In this paper we will describe the application of mathematic methods in the conversion of extra risk into the special insurance conditions in the life insurance. The main fields of risks and uncertainties in the life insurance company are: mortal-ity and sickness, investment gain, taxation and inflation, and new products of life insur-ance company. We will deal mainly with the risks connected with mortality. Life Insur-ance Company is exposed mainly to these risks that are for it the main and typical risks. The size and importance of the mortality risk depends mainly on the product type. From this point of view we can divide the life insurance products into the two types. The so-called risk insurance (for instance the temporary insurance for the case of death), which are sensitive on the mortality premises and the so-called reserve-making insurances (for instance the combined insurance – endowment insurance), which are not sensitive on the mortality premises but on the financial premises, above all on the interest rate (in-vestment gain). One of the most important tools used by the insurance company to reduce the mor-tality risk is the careful subscription. The insurance company can reduce the mortality risk also by blocking relatively large part of each insurance. Also in this case, however, it is important to subscribe carefully, as covering insurance company does not take over from the insurance company the part of whichever risk. The main demand of this cover-ing insurance company is the subscription process quality. We will deal further above all to the non-standard mortality risks (extra risks) and their conversion into the price of insurance (premium) of such a risk. The insurance companies identify extra risk in the process of subscription. The subscription and the life insurance are defined as the creation and sale of insurance. It consists of the defini-tion of the risk and conditions under which the insurance company takes over this risk as well as of the definition of guarantees and persons, who will be given such guaran-tees by the insurance company. Thus, before the insurance company insures a certain person, it tries during the subscription process to find out if the standard insurance is adequate to the health state of the relevant person. Most insurance companies accept by 90 to 95 % insured standard rates. This percentage varies depending on whether the insurance company prefers the competition values of premium or large-hearted sub-scription policy. The size of the group of standard insured persons depends however not only on the competition, but also on the sort of product and on the progress in medicine.

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