Cashflows
Here we will introduce cashflows. Cashflow is important that it is the basic unique for many calculation afterwards, including reserving, profit and solvency margin. Cashflow is also the physical flow of value in and out of the insurance companies (not the decrements!!!). Understanding the calculation of cashflow is the basic for all subsequent actuarial calculations.
Index
1. Introduction to Cashflows
2. Premium Income
3. Benefit Payments
4. Guarantee Cash Value
5. Policy Value Table
6. Expense
7. Commission
8. Tax
9. Non-guarantee benefits
10. Generalized Cashflow model
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