COURSE UNIT TITLE

: LIFE INSURANCE

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
IST 4181 LIFE INSURANCE ELECTIVE 3 0 0 5

Offered By

Statistics

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR GÜÇKAN YAPAR

Offered to

Statistics
Statistics(Evening)

Course Objective

The course is a study of single life functions including the measurement of mortality; life annuities; life insurance; net annual premiums; and net level premiums. And to understanding concept of reserves.

Learning Outcomes of the Course Unit

1   Obtain information about financial mathematics
2   Use mortality table and to calculate life expectancy
3   Learn types of life insurance
4   Calculate annual premium for life insurance
5   Learn types of life annuities
6   Calculate annual Premium for life annuities
7   Calculate prospective and retrospective reserves

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Time Value of Money and calculation of Annuities
2 Mortality Table and Functions.
3 Expectation Life Time
4 Life Insurance and Net Single Premium
5 Whole Life, Endowment, Deferred and Term Insurance.
6 Accumulated Value of Life Insurance.
7 Insurance with periods longer than one year
8 Variable Benefit Insurance
9 Continuous Life Annuities and Annual Net Premium. Continuous Temporary Life Annuities, Deferred Life Annuities.
10 Discrete Life Annuities, Life Annuities with monthly payments
11 Accumulated value for life annuities.
12 Reserve.
13 Prospective Reserves.
14 Retrospective Reserves.

Recomended or Required Reading

Textbook(s):
Bowers et al, Actuarial Mathematics,2nd Edition, Society of Actuaries, 1997
Supplementary Book(s):
C. Ruckman and J. Francis, Life Insurance, 2th Edition, BPP.

Planned Learning Activities and Teaching Methods

The course consists of lecture, class discussion and problem solving.

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 VZ Vize
2 FN Final
3 BNS BNS VZ * 0.40 + FN * 0.60
4 BUT Bütünleme Notu
5 BBN Bütünleme Sonu Başarı Notu VZ * 0.40 + BUT * 0.60


Further Notes About Assessment Methods

None

Assessment Criteria

To be announced.

Language of Instruction

Turkish

Course Policies and Rules

Student responsibilities:Attendance to at least 70% for the lectures is an essential requirement of this course and is the responsibility of the student. It is necessary that attendance to the lecture and homework delivery must be on time. Any unethical behavior that occurs either in presentations or in exams will be dealt with as outlined in school policy. You can find the undergraduate policy at http://web.deu.edu.tr/fen

Contact Details for the Lecturer(s)

DEU Fen Fakültesi Istatistik Bölümü
e-mail: guckan.yapar@deu.edu.tr
Tel: 0232 301 85 59

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 14 3 42
Preparations before/after weekly lectures 14 2 28
Preparation for midterm exam 1 24 24
Preparation for final exam 1 30 30
Final 1 2 2
Midterm 1 2 2
TOTAL WORKLOAD (hours) 128

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10PO.11PO.12PO.13PO.14
LO.15445345
LO.25445345
LO.35445345
LO.45445345
LO.55445345
LO.65445345
LO.75445345