PENGHITUNGAN PREMI ASURANSI LONG TERM CARE UNTUK MODEL MULTI STATUS (Studi Kasus: Produk Annuity as A Rider Benefit)

Abstract

Health insurance is an insurance that provides health benefit in the form of a cash compensation for the cost of treatment and care. One of the health insurance’s products is Long Term Care (LTC) insurance. LTC insurance guarantees nursing and medical expense, preferred for elderly people in the future. Proper calculation the cost of premiums is needed to maintain the reserve fund appropriate for insurance company to fulfill the policy agreement. In this final project will be discussed about calculation of premiums for LTC insurance products Annuity as A Rider Benefit as a multi-state models (three states), which are state active, state disabled, and state dead. Calculation based on Markov transition probability matrix. Data used is the data prevalence rate of heart disease in the United Kingdom in 2014. By calculating premiums of multi-state models, insurance products are expected to be able to guarantee health care expense according insured’s needs. Results of this premiums calculation are the older someone takes insurance the annual net premium is greater to be paid, also the bigger constant comparison the annual net premium is lesser to be paid. Keywords: health insurance, Long Term Care insurance, multiple state models, Annuity as A Rider Benefit product, Markov transition.