| This paper mainly introduces wavelet graduation of life-table and shows that wavelet graduation is a better graduation. When we get a better life-table which is better graduated, we analyze how to calculate premium and show that life-table is very important for calculating premium. In first chapter it introduces several definitions about graduation and show that graduation is mainly the fitting and smoothing revision of the initial estimation. And it also briefly introduces many graduation methods. In the second chapter the basic methods and framework of constitution of life-table is introduced, it also shows how life-table is, and how to estimate the initial life-table, and that life-table is crucial to insurance premium. In third chapter it embodies several graduation methods: Moving-Weighted-average graduation, Whittaker graduation, Bayesian graduation, parameter graduation, wavelet graduation. It mainly introduces how to use wavelet analysis to graduate life-table and comes to conclusion that in a certain prior opinion wavelet transform is so convenient and exact that it can meet the general condition of graduation. In forth chapter it introduces an example that a life-table is graduated. According to this sample we can know which graduation is good or bad and come to conclusion that wavelet graduation is a better way. After we get a better life-table, we can use this life-table to calculate proper premium. This premium is good for insurance company and policy-holder. Both sides can get benefit from guarantee slip .So guarantee slip has a good insurance effect as it can be. |
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