City Research Online

Abstract

Life assurance, as an applied division of economics, can play a major role in developing the Egyptian economy, because insurance companies - especially those of life branches - are considered major investors in the development plans with their accumulated funds.

In order to allow life assurance in Egypt to fulfil its role, new investment laws concerning this industry must be issued to give more benifits to the individuals, so they will decide to buy life policies in order to gain this suitable utility. The most important aspect of life assurance to do so, lies in the ability to charge the individuals appropriate premiums based on modern Egyptian experience not on foreign experience, i.e the A 1924-29 Ultimate Life Table, which is today out-of-date.

This research is undertaken to apply theoretical basis of demography and life assurance in finding an ideal life table suits the Egyptian market more than the A 1924-29 U.Table.

In this study, four approaches to find this ideal life table were done. The first was: to prove that the Egyptian crude mortality rates and their shapes are not similar to those based on the A 24-29 U.Table. The second was: to compare between these crude rates and those based on A 49-52 U.Table, we found that,they have nearly the same shape but their rates are slightly different. The third was: trying to find a mathematical formula related to Perks family of curves to fit and graduate these Egyptian crude rates, but concerning this approach, Gompertz and Makeham graduations were not likely to prove suitable. The fourth was: using the A 49-52 U.Table as a standard table to graduate these Egyptian crude rates, also selecting from them the ideal graduated rates for the Egyptian market.

Finally, the research also includes a complete set of monetary tables based on the new ideal life table (sums assured, with profit ), and interest rates varying between 4% and 9%.

Publication Type:	Thesis (Doctoral)
Subjects:	Q Science > QA Mathematics
Departments:	School of Science & Technology > Mathematics School of Science & Technology > School of Science & Technology Doctoral Theses Doctoral Theses

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