Abstract:C19Life insurance companies deal with two fundamental types of risks when issuing annuity contracts: financial risk and demographic risk. As regards the latter, recent work has focused on modelling the trend in mortality as a stochastic process. A popular method for modelling death rates is the Lee-Carter model. In this paper we gives an overview of the Lee Carter model and the feasibility of using it to construct mortality forecast for the population data. In particular, we focus on a sensitivity issue of thi… Show more
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