Life Insurance Theory : Actuarial Perspectives

The whole life annuity ä is the x x time-capital (1,0) + (1,1) + (1,2) + ... (**) In particular, the present value ofA 00 and ä 00 is x x 0 0 2 A = ~ and ä = 1 + v + v + ... In particular, the price ofA 00 and äx 00 is x 2 A = E(~) and ä = E(I + v + v + ...