Trustworthy Life Insurance Homework Help
In recent times, the application of statistics in Life Insurance has become widespread especially in the area of Pension funding, Annuities, and related areas. Our Statistics tutors are proficient in multiple areas of life insurance including binomial distribution, Markov chains, risk minimization in the theory of incomplete financial markets, etc. If you take our life insurance homework help, you are quality and timely solutions. Feel free to contact us with life insurance assignments for undergraduate, graduate, postgraduate, and any other academic level.
Poisson Distribution
Poisson distribution is a method in probability theory statistics that is used to determine the level of variation from an average occurrence rate that is known, within a specific period. This statistical tool can be used to predict:
- The probable variation amount from an average number of an event
- The maximum and minimum times a phenomenon is likely to occur within a given period
Poisson distribution is often used in insurance to analyze and review business coverage. It provides information about the number of losses or annual claims that are covered by the insurance company. It also tells the company the possible max and min number of claims that clients might file in a year.
Index-linked Benefits
If you arrange for a life insurance cover, inflation might affect your benefits as the years go by. Including an index-linked option ensures that your policy benefits soar annually and also mitigates the effects of inflation. Insurance companies offer an arrangement for most policies to increase together with the retail price index, by a given percentage. Meaning the sum insured will increase as the premium also rises leading to an increased benefit.
Participating Policy
This is a type of insurance contract that ensures that some amount of dividend is paid to a policyholder. Also known as a with-profits policy, a participating policy works like a life insurance contract. Insurance companies usually charge higher premiums for participating policies than non-participating policies. The amount of premium charged however depends on conservative projections.