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THE BENEFITS OF FAMILY ANNUITY CALCULATION WITH VINE’S COPULA AND FUZZY INTEREST RATE

BAREKENG: Jurnal Ilmu Matematika dan Terapan · Vol. 17 No. 4 (2023) · pp. 2461–2470

DOI
10.30598/barekengvol17iss4pp2461-2470
ISSN
2615-3017, 1978-7227
Published
2023-12-19
Publisher
PATTIMURA UNIVERSITY
Language
eng
License
creativecommons.org/licenses/by-sa/4.0

Abstract

One example of a multiple life annuity product (covering more than one person) is a reversionary annuity, which is a life annuity product for two or more annuitants whose annuity payments will begin after one of the annuitants specified in the contract dies first until the other annuitant also dies. This type of annuity is modified into a family annuity consisting of husband, wife, and child. The marginal distribution is constructed from a combined model of several mortality models such as Heligman-Pollard, Costakis, and Kannisto-Makeham models to capture mortality at young and old ages.This study takes this dependency into account when modeling the joint distribution of remaining life expectancy between the parties. The joint distribution of remaining lifetime between annuitants is modeled with a Vine’s copula constructed from the marginal distribution of each annuitant. This research also takes account the actuarial margin rate using BI-7-day (reverse) repo rate data estimated with fuzzy sets. The annuity benefits calculation is assumed with some Kendall's tau () values. The result shows the value of annuity benefits increases as the value of increases.

Collaboration network of the authors

14 authors · 24 co-authorship links

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  • Politeknik Negeri Ujung Pandang
  • Bandung Institute of Technology
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Nurhayati NurhayatiPoliteknik Negeri Ujung Pandang2
Utriweni MukhaiyarAffiliation unknown2
Muhammad Rozzaq HamidiAffiliation unknown2
Firman AdiyansyahAffiliation unknown1
Steven SergioAffiliation unknown1
Enrico AntoniusAffiliation unknown1
Udjianna Sekteria PasaribuBandung Institute of Technology1
Adilan Widyawan MahdiyasaAffiliation unknown1
Sapto Wahyu IndratnoAffiliation unknown1
Werry FebriantiAffiliation unknown1
Andi FitriawatiAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://ojs3.unpatti.ac.id/index.php/barekeng/oai, first harvested 5 Nov 2026, last seen 5 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">THE BENEFITS OF FAMILY ANNUITY CALCULATION WITH VINE’S COPULA AND FUZZY INTEREST RATE</dc:title>
	<dc:creator>Sari, Kurnia Novita</dc:creator>
	<dc:creator>Deautama, Randi</dc:creator>
	<dc:creator>Febrisutisyanto, Ady</dc:creator>
	<dc:description xml:lang="en-US">One example of a multiple life annuity product (covering more than one person) is a reversionary annuity, which is a life annuity product for two or more annuitants whose annuity payments will begin after one of the annuitants specified in the contract dies first until the other annuitant also dies. This type of annuity is modified into a family annuity consisting of husband, wife, and child. The marginal distribution is constructed from a combined model of several mortality models such as Heligman-Pollard, Costakis, and Kannisto-Makeham models to capture mortality at young and old ages.This study takes this dependency into account when modeling the joint distribution of remaining life expectancy between the parties. The joint distribution of remaining lifetime between annuitants is modeled with a Vine’s copula constructed from the marginal distribution of each annuitant. This research also takes account the actuarial margin rate using BI-7-day (reverse) repo rate data estimated with fuzzy sets. The annuity benefits calculation is assumed with some Kendall's tau () values. The result shows the value of annuity benefits increases as the value of &amp;nbsp;increases.</dc:description>
	<dc:publisher xml:lang="en-US">PATTIMURA UNIVERSITY</dc:publisher>
	<dc:date>2023-12-19</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ojs3.unpatti.ac.id/index.php/barekeng/article/view/10451</dc:identifier>
	<dc:identifier>10.30598/barekengvol17iss4pp2461-2470</dc:identifier>
	<dc:source xml:lang="en-US">BAREKENG: Jurnal Ilmu Matematika dan Terapan; Vol 17 No 4 (2023): BAREKENG: Journal of Mathematics and Its Applications; 2461-2470</dc:source>
	<dc:source>2615-3017</dc:source>
	<dc:source>1978-7227</dc:source>
	<dc:source>10.30598/barekengvol17iss4year2023</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://ojs3.unpatti.ac.id/index.php/barekeng/article/view/10451/7226</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2023 Kurnia Novita Sari, Randi Deautama, Ady Febrisutisyanto</dc:rights>
	<dc:rights xml:lang="en-US">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
</oai_dc:dc>