CADANGAN ZILLMER ASURANSI JIWA DWIGUNA MENGGUNAKAN DISTRIBUSI FRECHET
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Date
2023-11
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Elfitra
Abstract
Life insurance is a protection effort provided by the insurer against risks to the insured’s
life that will arise from an unpredictable event. Insurance companies need
to calculate reserves to prepare funds when participants request a claim. Zillmer’s
reserves are modified reserves that are calculated using prospective reserves and a
zillmer rate of α.This final project aims to determine Zillmer reserve of endowment
life insurance for two insurance participants who are x years old by using Frechet
distribution. The parameters in the Frechet distribution were estimated using maximum
likelihood estimation and then determined by a Newton-Raphson iteration
method. The calculation of this Zillmer’s reserve is obtained by using the prospective
reserve and Zillmer’s rate. The solution of this problem is obtained by determining
the initial life annuity temporary, single premium, and annual premium, then the
Zillmer’s reserve formula is obtained based on the distribution of Frechet. Zillmer’s
reserves for endowment life insurance using the Frechet distribution is smaller than
Zillmer’s reserve for endowment life insurance using the Indonesian Mortality Table
2011
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Keywords
Zillmer reserve, endowment life insurance, Frechet distribution, maximumlikelihood
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