Abstract:
This article discusses the premium of reserves of last survivor term life insurance
based on premium sufficiency method for two persons, who are respectively x and
y years old. The calculation of this reserve is obtained by determining the single
premium, annual premium, gross premium and life annuity with use at the constant
force assumption. The premium is obtained by determining the life annuity and
single premium value based on the assumption of constant force and continued by
calculating the force of mortality using De Moivre’s law, then the premium formula
to determine the premium reserve is obtained based on the assumption of constant
force.
