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Journal : Jurnal Matematika

The Calculation of Life Insurance Premiums with A Multiple-State Model on Critical Illness Insuranceance Millennia Taraly; Neva Satyahadewi; Hendra Perdana
Jurnal Matematika Vol 12 No 2 (2022)
Publisher : Publisher : Mathematics Department, Faculty of Mathematics and Natural Sciences, Udayana University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/JMAT.2022.v12.i02.p150

Abstract

Based on data from the Basic Health Research (Riskesdas) in 2018, the risk of critical illness is increasing and is the highest cause of death for Indonesian population. Currently, the cost of treating disease is not cheap, so maintaining health and preparing for the possibility of being diagnosed with a critical illness in the future is an important step. Critical Illness insurance premiums calculation includes cancer, stroke, heart, and diabetes mellitus. The benefits provided are in the form of death compensation, treatment costs when diagnosed with a critical illness, and there are also costs for Angioplasty surgery. Angioplasty surgery is performing when the individual has a serious critical heart condition and must be performed immediately 24 hours after a heart attack. The data information is in the form of the 2019 Indonesian Mortality Table, and the prevalence of critically ill patients with angioplasty surgical conditions. The premium calculation is carriying out for the insured male aged 40 years in good health, interest rate is 3.75%, the premium payment period and the insurance coverage period is 10 years. The annual net premium value obtained is IDR 5,859,788, of which the sum insured is IDR 500,000,000. There are 3 benefits obtained by the insured: (1) The cost of compensation received for Angioplasty surgery is 25% of the sum insured; (2) The cost of treatment compensation that will be given annually until the insurance coverage period ends when the insured is diagnosed with a critical illness, which is 100% of the sum insured minus the cost of compensation in the event of Angioplasty surgery; and (3) The value of compensation for death due to any cause, which is 100% of the sum insured minus the critical illness benefit for Angioplasty surgery
Co-Authors . Apriansyah Afghani Jayuska Afghany Jayuska Al-Ham, Hairil Amriani Amir Amriani Amir Amriani Amir Andani, Wirda Antoni, Frans Xavier Natalius Apriliyanti, Rita Aprizkiyandari, Siti Ardhitha, Tiffany Ari Hepi Yanti Arsyi, Fritzgerald Muhammad Arti, Reyana Hilda Ashari, Asri Mulya Asri Mulya Ashari Asty Fistia Ningrum Atikasari, Awang Aulia Puteri Amari Bambang Kurniadi Banu, Syarifah Syahr ciptadi, wahyudin Cornellia, Amanda Crismayella, Yuveinsiana Dadan Kusnandar Dadan Kusnandar Dadan Kusnandar David Jordy Dhandio Debataraja, Naomi Nessyana Della Zaria Desriani Lestari Desriani Lestari Desriani Lestari Dhandio, David Jordy Dinda Lestari Dwi Nining Indrasari Dwinanda, Maria Welita Eka Febrianti, Eka Esta Br Tarigan Evy Sulistianingsih Ewaldus Okta Ferdina Ferdina Feriliani Maria Nani Fitriawan, Della Fransisca Febrianti Sundari Fransiska Fransiska Grikus Romi Gusti Eva Tavita Gusti Eva Tavita Hairil Al-Ham Halim, Alvin Octavianus Hamzah, Erwin Rizal Handayani, Aditya Hanin, Noerul Harimurti, Puspito Harnanta, Nabila Izza Helena, Shifa Hendra Perdana Hendri Kurniawan, Hendri Hendrianto, El Herina Marlisa Huda, Nur'ainul Miftahul Huriyah, Syifa Khansa Ibnur Rusi Ikha Safitri Imro'ah, Nurfitri IMRO’AH, NURFITRI Imtiyaz, Widad Isra’ Sagita Jawani Jawani Jaya, Louis Putra Karlina, Sela Kusnandar, Dadan Tonny Lucky Hartanti Lucky Hartanti Lucky Hartanti M. Deny Hafizzul Muttaqin Maga, Fahmi Giovani Margareta, Tiara Margaretha, Ledy Claudia Marlisa, Herina Marola, Geby Martha, Shantika Mega Sari Juane Sofiana Mega Sari Juane Sofiana Mega Tri Junika Millennia Taraly Misrawi Misrawi Muhammad Ahyar Muhammad fauzan Muhammad Radhi Muhammad Rizki Muliadi Muliadi Muslimah (F54210032) Nabil, Ilhan Nail Nanda Shalsadilla Naomi Nessyana Debataraja Naomi Nessyana Debataraja Noerul Hanin Nona Lusia Nugrahaeni, Indah Nur Asih Kurniawati Nur Asiska Nurfadilah, Kori’ah Nurfitri Imro'ah Nurfitri Imro’ah Nurhalita Nurhalita Nurhanifa, Nurhanifa Nurmaulia Ningsih Oktaviani, Indah Ovi Indah Afriani Paisal Paisal Pertiwi, Retno Pratama, Aditya Nugraha Pratiwi, Yuyun Eka Preatin, Preatin Putri Putri Putri, Aulia Nabila Qalbi Aliklas R Puspito Harimurti Radhi, Muhammad Radinasari, Nur Ismi Rafdinal Rafdinal Rahadi Ramlan Rahmadanti, Putri Rahmanita Febrianti Rusmaningtyas Rahmawati, Fenti Nurdiana Ramadhan, Nanda Ramadhania, Wahida Reni Unaeni Retnani, Hani Dwi Ria Andini Ria Fuji Astuti Rina Rina Risky Oprasianti Rita Kurnia Apindiati Rivaldo, Rendi Riza Linda Rizki Nur Rahmalita Rizki, Setyo Wira Rosi Kismonika Roslina Rosi Tamara Rovi Christova Safira, Shafa Alya Salsabilla, Arla Santika Santika Sary, Rifkah Alfiyyah Savitri, Dini Dwi Seftiani, Seftiani Selvy Putri Agustianto Setyo Wir Rizki Setyo Wira Rizki Setyo Wira Rizki Setyo Wira Rizki Shantika Martha Shantika Martha Sinaga, Steven Jansen Sintia Margun Sista, Sekar Aulia Siti Aprizkiyandari Siti Aprizkiyandari, Nurul Qomariyah, Shantika Martha, Siti Hardianti Suci Angriani Sukal Minsas Sukal Minsas syuradi, Syuradi Tamtama, Ray Taraly, Inggriani Millennia Tiara, Dinda Trifaiza, Fadhela Wahyu Diyan Ramadana Wahyudin Ciptadi Warsidah Warsidah Warsidah, Warsidah Wilda Ariani Wirda Andani Yopi Saputra Yudhi Yuliono, Agus Yumna Siska Fitriyani Yundari, Yundari Yuveinsiana Crismayella Zakiah, Ainun