PENENTUAN CADANGAN PREMI UNTUK ASURANSI JOINT LIFE

Abstract

Premium reserve is a number of fund that need to be raised by insurance company in preparation for the payment of claims. This study aims to get the formula of premium reserve as well as the value of the premium reserve for joint life insurance by using retrospective calculation method. Joint life insurance participants in this study are limited to 2 people. Calculations in this study is using Indonesian Mortality Table (TMI) 2011, joint life mortality tables, commutation tables, value of annuities, value of single premiums and constant annual premium and using constant interest rates of 5%. The results showed that by using age of the participant insurance joint life of x = 50 and y = 45 years and the premium payment period of t = 10 years, we obtained that the value of premium reserve from the end of the first year until the  end of the 11th year has increased every year, while the value of premium reserves from the end of the 12th year and so on until a lifetime has decreased every year.