Yearly Price Protection Method
Definition
- A calculation method used in actuarial science used to find the yearly cost of protection for policies that include a savings component.
Synonyms
annual price protection method, annual cost coverage
Related Terms and Acronyms
- Actuarial Table — Definition,
- A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
- Actuary — Definition,
- An individual who assesses the mechanisms, mathematics and complexities of risk and uncertainty.
- Issue Age — Definition,
- The policyholder's age when the policy was first issued, to the nearest year.
- Yearly Probability of Dying — Definition,
- The likelihood that an individual of a certain age and gender will die within a year.
