The lifecontingencies Package: Performing Financial and Actuarial Mathematics Calculations in R
It is possible to model life contingency insurances with the life contingencies R package, which is capable of performing financial and actuarial mathematics calculations. Its functions permit one to determine both the expected value and the stochastic distribution of insured bene fits. Therefore, life insurance coverage can be priced and portfolios risk-based capital requirements can be assessed. This paper briefly summarizes the theory regarding life contingencies that is based on financial mathematics and demographic concepts. Then, with the aid of applied examples, it shows how the lifecontingencies package can be a useful tool for executing routine, deterministic, or stochastic calculations for life-contingencies actuarial mathematics.
actuarial mathematics life insurance financial mathematics life tables