Generalized Conversion Formulas between Multiple Decrement Models and Associated Single Decrement Models

Title & Authors
Generalized Conversion Formulas between Multiple Decrement Models and Associated Single Decrement Models
Lee, Hang-Suck;

Abstract
Researches on conversion formulas between multiple decrement models and the associated single decrement models have focused on calculating yearly-based conversion formulas. In practice, actuaries may be more interested in monthly-based conversion formulas. Multiple decrement tables and their associated single decrement tables consist of yearly-based rates of multiple decrements and absolute rates of decrements, respectively. This paper derives conversion formulas from yearly-based absolute rates of decrements to monthly-based rates of decrement due to cause j under the uniform distribution of decrements(UDD). Next, it suggests conversion formulas from monthly-based absolute rates of decrements to monthly-based rates of decrement due to cause j under UDD. In addition, it calculates conversion formulas from yearly-based rates of decrement due to cause j to the corresponding absolute rates of decrements under UDD or constant force assumption. Some numerical examples are discussed.
Keywords
Absolute rates of decrements;rates of decrement due to cause j;uniform distribution of decrements;constant force assumption;
Language
Korean
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