Abstract:
This article project discusses the annual premium on endowment last survivor life
insurance using Rayleigh distribution. The insurance participant are limited only
for two person with x and y years old. The premium payment stop if the last person
of its member dies or term of payment ends. The chance of life and chance of death
of insurance participant is determine using Rayleigh distribution. The parameter
of Rayleigh distribution is estimated using maximum likelihood estimation. The
cash value of initial life annuity of endowment life insurance used on single premium
and annual premium calculation. The result of annual premium of endowment last
survivor insurance calculation is smaller than the annual premium of endowment
joint life insurance.