# DetLifeInsurance

DetLifeInsurance is an R package designed to provide tools for: - Deterministic valuation of actuarial reserves and life insurance and annuities premiums (both constant and variable amounts supported). - Applying fractional age assumptions to life tables, and generating new ones based on mortality laws. - Calculation of equivalent interest-discount rates as well as future and present value of annuities. - Calculation of loan amortization schedule.

In addition, 47 commonly used mortality tables are included as data.

## Installation

To install from CRAN, use:

``install.packages("DetLifeInsurance")``

To install from GitHub, use:

``````#library(devtools)
devtools::install_github("JoaquinAuza/DetLifeInsurance")``````

Note: package `devtools` must be installed.

## Example #1

In this example, we obtain the annual net premium of a life insurance coverage of \$100000 for a term of 5 years, issued to a male of age 30, using an interest rate of 3.5%.

``````#library(DetLifeInsurance)

LI <- A.(x=30, h=0, n=5, i = 0.035, data=CSO80MANB, cap = 100000) #Actuarial PV of the LI
Prem <- a(x=30, h=0, n=5, k=1, i=0.035, data=CSO80MANB , assumption="UDD")
Net_Premium <- LI/Prem #Net premium to be paid at the begining of each year

#The same result can be achieved by using PremiumFrac()

Net_Premium <-PremiumFrac(px1=LI, x=30,m=5,i=0.035,k=1,data=CSO80MANB)``````

## Example #2

In this example, we obtain the value of the actuarial reserve for a life insurance coverage where the insuree pays monthly premiums during the first year. UDD assumption is used.

``````#library(DetLifeInsurance)

LI <- A.(x=30, h=0, n=5, i = 0.035, data=CSO80MANB, cap = 100000)

Net_Premium <- PremiumFrac(px1=LI,x=30,m=1,k=12,i=0.035,data= CSO80MANB,assumption = "UDD")
Net_Premium_monthly <- Net_Premium/12

V_A.(px=Net_Premium_monthly, x=30, h=0, n=5, k = 1, cantprem = 12,
premperyear = 12, i = 0.035, data=CSO80MANB, assumption = "UDD",
cap=100000, t=60)``````

## Status

Work in progress!

• Basic functionality.
• Enhanced documentation.
• Fix references, fix non-exporable functions.
• Upload to CRAN.
• New functions: group insurance, loan insurance reserves…
• what else?