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All Journal Jurnal Online Mahasiswa (JOM) Bidang Matematika dan Ilmu Pengetahuan Alam BAREKENG: Jurnal Ilmu Matematika dan Terapan
Endang Lily
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Computer Science & IT Control & Systems Engineering Economics, Econometrics & Finance Energy Engineering Mathematics Mechanical Engineering Physics Transportation

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ZILLMER RESERVE ON ENDOWMENT LAST SURVIVOR LIFE INSURANCE USING LOMAX DISTRIBUTION Hasriati, Hasriati; Rimisti, Pragista; Sirait, Haposan; Lily, Endang
BAREKENG: Jurnal Ilmu Matematika dan Terapan Vol 17 No 4 (2023): BAREKENG: Journal of Mathematics and Its Applications
Publisher : PATTIMURA UNIVERSITY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30598/barekengvol17iss4pp2367-2380

Abstract

This article discusses Zillmer's reserves for endowment last survivor of life insurance. Zillmer reserves are a type of modification of premium reserves which are calculated using prospective reserves and the Zillmer rate. In Zillmer reserves, loading which is the difference between gross premium and net premium in the first policy year is greater than standard loading. In this article, the life insurance used is endowment last survivor of life insurance, where the reserve calculation for last survivor status is calculated for 3 cases, namely, both participants survive until the end of the policy, participant x survive but participant y died, and participant y survive but participant x died. So the purpose of this research is to find a way to make the loading value in 3 cases on the dwiguna last survivor of life insurance Zillmer reserves smaller. To achieve this goal, this article uses the Lomax distribution with the parameters estimated using maximum likelihood estimation and then determined by a Newton-Raphson iteration method. Based on the illustration, even though in the first policy year in cases where both participants survive until the end of the policy there was still a negative loading, overall Zillmer's reserves in each case continues to increase over time
Co-Authors Daratun Nasihin Fauziah Arani Haposan Sirait Hasriati Hasriati, Hasriati Herlina Marbun Leli Deswita Lisa Anna Nasution M. D. H. Gamal M. Natsir Nopriadi Okmi Zerlan Reza Budiman Rimisti, Pragista Rolan Pane Rora Oktafia Samuel Jun Harli Sri Gemawati T. P. Nababan Tumpal P. Nababan Widiya Fitrina Sari