| Life insurance industry has developed very rapidly since its resumption in 1982 in our country. It has become more and more important to the whole society. But in order to catch up with the developed countries, there is still a long way to go. There are many problems need to solve in the research and application of life insurance. This thesis studies from actuarial angle the pricing and innovation of life insurance products in our country, the research about which is still rather few in our country. It consists of five chapters:Chapter One: First, the history and development of life insurance and its actuarial research is briefly described. Then, the development of life insurance industry in our country is analyzed. After pointing out the deficiency hi actuarial research and practice in our country, this chapter finally puts forward the problems need more research in this field.Chapter Two: This chapter is mainly concerned with the actuarial model of net premium. First, it demonstrates the traditional method of calculating net premium, which is based on the assumption that interest rates are constant. Then, after pointing out the deficiency of this method, it makes improvement in which interest rates are variable. The improvement contains four kinds of different circumstances. After that, it makes calculation using the new model of variable interest rates, and compares the result with that of calculation using the old model of constant interest rates. Finally, problems about mortality are discussed, especially that existing hi the using of mortality table in our country.Chapter Three: This chapter concentrates on the methods of calculating gross premium. First, it analyzes the three methods of calculating gross premium that are used nowadays, and shows their shortage. Then, through detailed classification of expenses, it modifies the formula of gross premium. The modification considers the influence of inflation upon expenses, and regards surrender factor and profit target asindependent variables in the formula of gross premium. Finally, it makes profit test and sensitivity analysis on gross premium using an example. Chapter Four: This chapter studies on innovation of level premium. First, it briefly analyzes the characteristic of life insurance market, and the shortage of level premium in our country. Then, according to the development of our country and the different level of income of different people, it presents three kinds of premium: graded premium, adjustable premium and flexible premium. Moreover, using actuarial principle, it demonstrates with examples in each case how to calculate premium, policy reserve and death benefit, etc.Chapter Five: This chapter is mainly concerned with innovation of life insurance products and related actuarial problems. Under present operating environment, in order to disperse risk and meet the demand of consumers, it is necessary to design new life insurance products, hi this chapter, three kinds of new life insurance products are suggested. On each kind of product, related actuarial problems are deeply discussed. At the same time, it also briefly analyzes problems need solving in order to put the new products into practice.
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