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Life Insurance: How With-Profits Products Work

In: Fundamentals of the Insurance Business

Author

Listed:
  • Massimiliano Maggioni

    (University of Milano)

  • Giuseppe Turchetti

    (Sant’Anna School of Advanced Studies)

Abstract

The chapter starts with the definition of with-profits life insurance products. These products foresee an annual increase in the capital sum or annuity insured through awarding part of the profits earned from the investment of assets in funds. The formula of the actuarial equilibrium of performance is explained. In the following paragraph, the reader can learn the three elements distinguishing a with-profits contract. They are the technical rate, the minimum guaranteed return and the profit-sharing clause. At the end of the chapter, a numerical demonstration is offered for ease in comprehending the mechanics of how the revaluation of performances works.

Suggested Citation

  • Massimiliano Maggioni & Giuseppe Turchetti, 2024. "Life Insurance: How With-Profits Products Work," Springer Texts in Business and Economics, in: Fundamentals of the Insurance Business, chapter 15, pages 333-339, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-52851-9_15
    DOI: 10.1007/978-3-319-52851-9_15
    as

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