ANALYSIS OF PREMIUM RESERVES VALUE IN COMBINED ENDOWMENT LIFE INSURANCE USING PROSPECTIVE METHODS AND FACKLER METHODS

Abstract

In this life everyone must have the best plan and hope for their future. But in reality there are not a few undesirable events such as death, which can cause a person's financial condition to be unstable so that it will cause losses. Life insurance is an insurance that will overcome these losses by providing compensation to the insured party in the event of death. In life insurance, insurance companies have an obligation to provide compensation to the insured. Therefore, life insurance companies must have savings funds, namely premium reserves. There are several methods used to calculate premium reserve values, such as prospective methods and Fackler methods. In this study, the second formula of the method was used to calculate the value of premium reserves in combined endowment life insurance and analyze the results obtained, then applied to real life at PT. Allianz Life Insurance Indonesia. Calculation of premium reserve values based on the 2011 Indonesian Mortality (TMI) Table for Men and Women with an interest rate of 5%. The results of the study show that the value of premium reserves in combined endowment life insurance using the Fackler method is greater than the value of premium reserves using a prospective method. Keywords: Combined endowment life insurance, premium reserves, Fackler method, prospective method