Estimation of Prospective Benefit Reserve Based on Gross Premium Valuation Method using Indonesian Mortality Table IV and De-Moivre Assumptions

According to regulations, life insurance companies must meet several requirements related the company's financial health, one of which is a technical reserve. Technical or premium reserves are funds that prepare. These will cover losses experienced by someone who applies for claim. Thus, author use Gross Premium Valuation (GPV) method in this research. can be determined using two approaches: retrospective and prospective reserves. In research, determine with GPV single decrement n-year continuous term life. The distribution deaths used determining probability death Indonesian table IV de-Moivre assumption parameter (ɷ=111). Different assumptions result different reserve values, so we see difference resulting from distributions. This research uses data male policyholders aged 40 years followed 20 years. Benefits paid right at time death, discrete payments made beginning each year 10