Life Insurance

Overview


Types


  • Term - is a insurance contract with a pre-specified term. That is, term insurance pays out if the holder dies prior to the end of the term.
  • Renewable - is a term insurance policy that gives the holder the right to renew at the end of the term.
  • Whole Life Insurance - is a policy that has no term, that is, it pays out whenever the holder dies.

Analytics


The basic framework for analyzing life insurance is survival analysis. It models the distribution of the amount of time till an event occurs.

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