Nuragiyanti Dewi Permatasari
Binus Interational Simprug
26 September 2011
Table Of Contentpage
III. New Zealand table for smoker15
Life insurance is a contract between the policy holder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. Life Insurance is insurance for you and your family's peace of mind. Life insurance is a policy that people buy from a life insurance company, which can be the basis of protection and financial stability after one's death. Its function is to help beneficiaries financially after the owner of the policy dies. It can also be a form of savings in the long run if you purchase a plan, which offers the option of contributing regularly.(http://www.lifeinsurancewiz.com/LifeInsurance/what.htm) Additionally, a little known function of life insurance is that it can be tied in with a person's pension plan. A person can make contributions to a pension that is funded by a life insurance company. These are considered private pension arrangements. In return, the policyholder agrees to pay a stipulated amount at regular intervals or in lump sums. In some countries, death expenses such as funerals are included in the premium. However, in the United States the predominant form simply specifies a lump sum to be paid on the insured's demise.
Here we must communicate Math with the health of society. And which i prefer to discuss the Life insurance because it is rare to work on and interesting to discuss it more deeply. I will investigate some of the uses of probability in real life, which will help realize and influence our lifestyle.
The Results of The Investigation
From The life table given, as we can see that the male in the age of 15 has the Number Surviving of 99,059 and Expected remaining life of 61.4 years. The expected age at death of males that are aged 15 years old now can be known by adding their age of 15 by their expected remaining life which is 61.4 years. And it’ll give the result of 76.4 years. That means, the expected age at death of 15-year-old male is at the age of 76.4 years old. * Expected age at death of males now 15 years old= Age + Expected remaining life
= 15 + 61.4
Different from the age 15, Male at the age of 50 years old has a different number of surviving and expected remaining life. The number surviving at the age of 50 is 93,799 and the expected remaining life is 28.6 years. As you can see that both of the numbers are lower than than the 15 years old one. To find out the expected age at death of 50 years old, we do the same thing as we did through the age of 15 before. The expected age at death of males that are aged 50 years old now can be known by adding their age of 50 by their...