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Table 6 Actuarial present value of the benefits of a pure endowment with maturity in 5 years underwritten on January 1st 2007 for individuals aged 65, 75 and 85 (\(i=4\)%)

From: A simplified model for measuring longevity risk for life insurance products

Age

(a)

(b)

(c)

(d)

(e)

(f)

(a)

(b)

(c)

(d)

(e)

(f)

Spain male

Spain female

65

621.50

624.00

623.90

624.40

624.39

624.79

653.98

653.89

655.12

655.36

655.36

655.54

75

537.98

543.28

544.55

545.94

545.91

547.07

600.18

603.19

603.88

604.62

604.54

605.16

85

358.60

365.91

374.69

378.33

377.87

380.15

429.30

440.47

441.25

442.82

443.63

445.86

Age

(a)

(b)

(c)

(d)

(e)

(f)

(a)

(b)

(c)

(d)

(e)

(f)

France male

France female

65

622.27

623.51

624.71

625.17

625.20

625.71

652.17

651.64

653.30

653.57

653.52

653.71

75

548.40

551.63

555.23

555.92

556.08

556.83

607.84

609.55

611.20

611.58

611.63

611.99

85

375.53

377.24

391.40

394.62

394.29

396.47

461.42

464.55

472.46

474.05

473.82

474.81

Age

(a)

(b)

(c)

(d)

(e)

(f)

(a)

(b)

(c)

(d)

(e)

(f)

US male

US female

65

614.16

613.77

615.91

616.22

616.25

616.52

633.87

634.24

635.45

635.66

635.71

635.97

75

533.41

536.70

540.85

542.50

542.36

543.56

572.50

574.49

577.76

578.56

578.57

579.28

85

355.38

370.28

374.16

377.72

377.64

380.85

419.56

430.20

435.42

438.85

438.82

441.37

  1. APV calculations are made using the (a) mortality rates forecasted according to the factor model, (b) actual mortality rates from 2007–2011, (c) mortality rates corresponding to the 976th least favourable simulated mortality paths, (d) mortality rates corresponding to the 991th least favourable simulated mortality paths, (e) mortality rates corresponding to the average of the 976–1000th least favourable mortality paths and (f) mortality rates corresponding to the average of the 991–1000th least favoruable mortality paths