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題名 從美國遞延個人年金商品探討年金準備金提存之相關研究
Discussing the liability reserve of annuity from American Single Premium Deferred Annuity (SPDA)作者 張志宏
Chung, Chih Hung貢獻者 鄭榮治
Chung,Rong Zu
張志宏
Chung,Chih Hung關鍵詞 年金
準備金
現金價值
評價利率
ANNUITY
RESERVE
CASH VALUE
VALUATION RATE日期 1994 上傳時間 29-Apr-2016 09:33:17 (UTC+8) 摘要 躉繳遞延年金在美國已成最受歡迎的壽險商品，究其原因，實是該商品具 參考文獻 (一) 書籍、論文：\n1. 李家泉 著 , 實用壽險數理 , 民國76年7月增訂第9版。\n2. 古瀨政敏 撰著 , 賴健業 譯述 ,美國壽險公司之新經營策略 , 財團法人 保險事業發展中心出版 , 民國81年1月。\n3. 自監理立場論年金保險之費率、設計、與準備金之研究 , 財政部保險司 編印 , 民國82年9月。\n4. 洪鴻銘 撰 , 個別人壽保險責任準備金之研究 , 民國66年12月。\n5. 黃裕哲 撰 , 壽險保單不喪失價值之研究 , 民國68年6月。\n6. 田祚貞 撰 , 個人年金保險之研究 , 民國81年6月。\n7. 李惠錦 撰 , 期間分析應用於壽險業資產負債管理之研究 , 民國82年6月。\n\n(二) 期刊資料：\n1. 鄭榮治 , "有關壽險責任準備金提存標準之探討" , 中華民國精算學會學報 , 第一期 , 民國66年3月。\n2. 方明川 , “個人年金之再保險簡論” , 壽險季刊第89期。\n3. 方明川 , “壽險業與年金的資產-負債管理問題與分析” , 壽險季刊第90期。\n4. Harold D, Skipper, 歐興隆 譯 , "美國年金的性質與重要性及其適用於臺灣的可行性” , 壽險季刊第90期。\n5. 方明川 , “年金保險與稅賦” , 保險專刊第28輯。\n6. 吳福山 , “從美國年金銷售與所得稅制 談我國個人年金之發展” , 保險專刊第31輯。\n7. 柯典偉 , “年金概論” , 中華民國精算學會會報第15期(第一冊)。\n8. 陳清江、尤慶文 , “個人年金商品之探討” , 中華民國精算學會會報第15期(第一冊)。\n9. 林秀齡 , "現金流量分析簡介” ,中華民國精算學會會報第16期(第一冊)。\n10. 邵慧中 , “壽險公司資本額需多少？” , 中華民國精算學會會報 第16期(第一冊)。\n11. 許健文 , “個人年金保險責任準備金探討” , 中華民國精算學會會報 第16期(第一冊)。\n12. 張秋政 , “躉繳保費年金和相關產品之評估” , 中華民國精算學會會報 第17期(第一冊)。\n13. 朱立明 , “人壽保險公司資金之資產管理” , 中華民國精算學會會報 第17期(第二冊)。\n\n\n\n二．英文參考文獻\n1.Chester Wallace Jordan, Life Contingencies, The\nSociety of Actuaries, 1975 2nd Edition\n2.Lewis C. Workman ,Mathematical Foundations of Life\nInsurance ,FLMI Insurance Education Program Life\nManagement Institute, LOMA l 1987\n3. Life and Hea1th Insurance Hand book II, 1973 3rd\nEdition\n4.Mark A. Tullis & Philip K. Polkinghorn, Valuation\nof Life Insurance Liabilities, ACTEX Pulications ,\n1992 2nd Edition \n5.Kenneth Black & Harold D. Skipper, Life Insurance\n, 1987 11th Edition 0\n6.John E. Tiller, Jr & Denise Fagerberg, Life, Health, and Annuity Reinsurance, ACTEX Pulications\n7.S. Travi-s Pritchett & John E. Stinton & Larry A. C\n-ox & Frederick W. Schroath , Individual Annuities\nas a Source of Retirement Income , LOMA , 1982 Revised Edition\n8 .Jay M. Jaffe, “The Application of the Commissioners Annuity Reserve Method to Fixed Single Premium\nDeferred Annuities" , Transactions Vol :XXXIV, 1982 0\n9.Peter D. Noris & Sheldon Epstein, Finding the \nImmunizing Investment for Insurance Liabilities: The\nCase of the SPDA I Course I-230 Study Note I Society of Actuaries (SOA) \n10.James A. Geyer, Valuation of Assets and Liabilities in a Volatile Interest World, Course 1-340 Study Note , SOA\n11 . Donna R. Clarire & Esther H. Milnes, Description of New York Regulation 126 , Course 1-443 Study Note , SOA \n12.Life Insurance Company Statutory Valuation, Course\nI -443 Study Note , SOA \n13.Regulators Perspective on Actuarial Opinions and Valuation , Course I -443 Study Note , SOA 0\n14. 1991 Proceedings of te National Association of Insurance Commissiners Volume IA , 1990 Dec\n15.Seminar on Annuities, Transamerica Reinsurance\n, 1994 ApriI Taipei , Taiwan\n16.S&P`s Outlook on the Life/Health Insurance Industry\n, Standard & Poor`s Insurance Rating Services \n17.John F. Fitzgerald, "Is there Single-Premium Life\nafter Baldwin-United?" , Journal of American Society of CLU & CHFC , 1988 july \n18.Willim V. Harris, "The Three Host Overlooked Benefits of Annuities" , Life Association News, 1991 Apr\n1 9.Michael M. Flynn ," SingIe Premium Whole Life: The\nSensible Alternative to Annuities" , Life Association News, 1992 Oct\n20.Rihr M. Todd & Neil Wallace, “SPDA and GICs: Like Money in the Bank?”, Federal Reserve Bank of Minneapolis, Quarterly Review, 1992 Summer\n21.Barry S. Vokes, "Unconventional Annuity Products\nin the 403(b) Tax Sheltered Annuity Market: Design\nMarketing and Rating Considerations" , Journal of\nInsurance Regulation (JIA) , Vol: 12 , 1993 Fall\n22.Richard B. Toolson , "Structuring Substantially Equal Payments to Avoid the Premature Withdrawal Penalty" , Journal of Taxation, Vol: 73 , 1990 Nov\n23.Francis D. Burke, "Extate Tax on Pension Death Benefits" , Journal of the American Society of CLU & CHFC , Vol: 41 , 1987 Jul \n24.Gerald I. Lenrow & Stephen S. Olds , "Deferred Annuities : The State of the Policy" , Best`s Review , Vo 1: 81 , 1980 Aug\n25.Dan W. Smith, “Investing in a Grandchild’s Future”, Best’s Review, Vol:93, 1992 May.\n26.Alice W. Su ,”Helping Carriers Balance Annuity Risk ?”, Best’s Review , Vol:94, 1993 Dec.\n27.Jorjann R. Carlson, “The Annuity … Star of the Nineties” ,Broker Word, Vol: 11, 1991 Feb\n28.Richard S. Borroughs, “The Hidden Criteria in Annuity Comparisons”, Broker World, Vol: 11, 1991 Feb.\n29.Melvin Charles Parker, “SPDA: A Boon for an Expected Bust Year”, Broker World, Vol: 12, 1992 Feb.\n30. Ralph W. Laster, “2001 : Retirement in the 21th Century”, Broker World, vol:13, 1993 May.\n31, Ben Ward, “ Product Trends” Insurers/Buyers Face Risks Needing Up-Front Approach”, National Underwriter [Life/Heath/Financial Services], Vol: 91, 1987 Sep 14.\n32, Judith Boyers Gee, “New 15% Tax Added to Excess Distributions”, National Underwriter, Vol:91, 1987 Dec 17.\n33. Barry S. Vokes, “A Case Against Two-Tier Annuities”, National Underwriter, Vol:94, 1990 Sep 3.\n34. Linda Koco, “Nursing Home Waivers Proliferate”, National Underwriter, Vol.:95, 1991 Apr 22.\n35. Linda Koco, “MVAs Gaining Annuity Market Share”,National Underwriter, Vol:95, 1991 Dec 9\n36. Ralph W. Laster "SPDA Insurers-Bruised Perhaps,\nbut Still Strong" , National Underwriter, Vol: 95 , 1991 Dec 9 \n37.Brendan Intindola , "Annuity Surrender Charges Swinging Toward Short End" , National Underwriter,\nVol: 95, 1991 Dec 9\n38.Darlene K. Chandler, "Does This Annuity Exchange\nAvoid the 10% Penalty Tax?" , National Underwriter Vol: 96, 1992 Mar 9 \n39.Darlene K. Chandler, "Annuity Exchange Doesn`t Foil the 10% Penalty Tax" , National Underwriter,Vol: 96 , 1992 Dec 14\n40.Cynthia Crosson, "HVA Fixed Accounts Catch on In\nVariable Annuities", National Underwriter, Vol:\n97,1993 Apr 19 \n41.Matthew P. Schwartz, "Higher Interest Rates Keep\nInterest Higher in SPDAs", National Underwriter, Vol:97, 1993 Jul 19\n42.Steve Briggs, "Modified Guaranteed Annuities: SPDA\nAlternative", National Underwriter, Vol: 97 ,1993 Aug 2 0\n43. Linda Koco , "SPDA Sports 3-mo " Interest Periods"\nNational Underwriter, Vol: 97 , 1993 Oct 11 0 描述 碩士
國立政治大學
風險管理與保險研究所
787415資料來源 http://thesis.lib.nccu.edu.tw/record/#B2002003301 資料類型 thesis dc.contributor.advisor 鄭榮治 zh_TW dc.contributor.advisor Chung,Rong Zu en_US dc.contributor.author (Authors) 張志宏 zh_TW dc.contributor.author (Authors) Chung,Chih Hung en_US dc.creator (作者) 張志宏 zh_TW dc.creator (作者) Chung, Chih Hung en_US dc.date (日期) 1994 en_US dc.date.accessioned 29-Apr-2016 09:33:17 (UTC+8) - dc.date.available 29-Apr-2016 09:33:17 (UTC+8) - dc.date.issued (上傳時間) 29-Apr-2016 09:33:17 (UTC+8) - dc.identifier (Other Identifiers) B2002003301 en_US dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=99751 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 風險管理與保險研究所 zh_TW dc.description (描述) 787415 zh_TW dc.description.abstract (摘要) 躉繳遞延年金在美國已成最受歡迎的壽險商品，究其原因，實是該商品具 zh_TW dc.description.tableofcontents 第一章 緒論\n第一節 研究動機與目的………………………………………………………………………..……...1\n第二節 研究限制與範圍…………………………………………………………………………….....4\n第三節 研究內容…………………………………………………………………………………………...5\n第四節 文獻回顧…………………………………………………………………………………………...6\n\n第二章 美國躉線保費遞延年金商品之分析\n第一節 前言………………………………………………………………………………………………...12\n第二節 SPDA商品附屬給付特色之探討…………………………………………....……...13\n第一款 豁免條款………………………………………………………………….…….……...13\n第二款 免費條款……………………………………………………………………..………...13\n第三款 無部份提款之加給…………………………………………………..….………...17\n第四款 市場價值調整………………………………………………..…………….………...18\n第五款 兩層利率年金……………………………………..…………………….…………...21\n第六款 提前年金化……………………………………………………………….…………...24\n第七款 年金化前之死亡給付……………………….……………………….…………...27\n本章註釋………………………………………………………………………………………………….……...32\n\n第三章 美國遞延年金商口責任準備金之計算\n第一節 CARVM制度之介紹……………………………………………………………..………...35\n第二節 SPDA責任準備金之提存………………………………………………………………...41\n第一款 CARVM之基本應用……………………………………………….……………...41\n第二款 CARVM在”豁免條款”之應用………………………………………………..50\n第三款 CARVM在”免費部份提款”之應用…………………………..…………...52\n第四款 CARVM在”無部份提款之加給”之應用………………………..……...54\n第五款 CARVM在”兩層利率年金”之應用………………………..……………...56\n第六款 CARVM在”提前年金化”之應用………………………………….………...58\n第七款 CARVM在”年金化前之死亡給付”之應用…………………….……...59\n第三節 其他遞延年金商品責任準備金之提存……………………………………..…...61\n第一款 APDA責任準備金之計算…………………………………………….………...61\n第二款 FPDA責任準備金之計算………………………………………………..……...62\n第四節 一些CARVM計算之實用考量……………………………………..………………...64\n第一款 非週年日之現金價值……………………………………..……………………...64\n第二款 在評價日之準備金………………………………………………….……………...66\n第三款 曆年日之準備金提存………………………………………..…………………...67\n第四款 應用於基金價值變化之評價基礎……………………….………………...67\n本章註釋………………………………………………………………………………………………………...72\n\n第四章 遞延年金責任準備金相關問題之研究\n 第一節 保証利率………………………………………………………………………………………...73\n第一款 概說………………………………………………………………………………………...73\n第二款 對CARVM計算之影響…………………………………………………………...74\n第三款 初年度盈餘緊縮……………………………………..……………………………...75\n第四款 歷史借鏡………………………………………………………………………………...77\n第三節 評價利率………………………………………………………………….……………………...77\n第一款 概說………………………………………………………………..……………………...77\n第二款 NAIC對評價利率之規定…………………………………..…………………...79\n第三款 評價利率之分析……………………………………….…………………………...82\n第四節 市場利率………………………………………………………………………………………...83\n第五節 解約費用………………………………………………………………………………………...86\n第一款 概說……………………………………………………………………….……………...86\n第二款 對CARVM計算之影響…………………………………….…………………...87\n本章註釋…………………………………………………..…………………………………………………...90\n\n第五章 結論與建議\n 第一節 結論……………………………………………………………………………………………...93\n 第二節 建議……………………………………………………………………………………………...97\n 第三節 後續研究…………….……………………………………………………………………...102\n 本章註釋………………………………………………….………………………………………………...105\n\n參考書目…………………………………………………………………….……………………………………...108 zh_TW dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#B2002003301 en_US dc.subject (關鍵詞) 年金 zh_TW dc.subject (關鍵詞) 準備金 zh_TW dc.subject (關鍵詞) 現金價值 zh_TW dc.subject (關鍵詞) 評價利率 zh_TW dc.subject (關鍵詞) ANNUITY en_US dc.subject (關鍵詞) RESERVE en_US dc.subject (關鍵詞) CASH VALUE en_US dc.subject (關鍵詞) VALUATION RATE en_US dc.title (題名) 從美國遞延個人年金商品探討年金準備金提存之相關研究 zh_TW dc.title (題名) Discussing the liability reserve of annuity from American Single Premium Deferred Annuity (SPDA) en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) (一) 書籍、論文：\n1. 李家泉 著 , 實用壽險數理 , 民國76年7月增訂第9版。\n2. 古瀨政敏 撰著 , 賴健業 譯述 ,美國壽險公司之新經營策略 , 財團法人 保險事業發展中心出版 , 民國81年1月。\n3. 自監理立場論年金保險之費率、設計、與準備金之研究 , 財政部保險司 編印 , 民國82年9月。\n4. 洪鴻銘 撰 , 個別人壽保險責任準備金之研究 , 民國66年12月。\n5. 黃裕哲 撰 , 壽險保單不喪失價值之研究 , 民國68年6月。\n6. 田祚貞 撰 , 個人年金保險之研究 , 民國81年6月。\n7. 李惠錦 撰 , 期間分析應用於壽險業資產負債管理之研究 , 民國82年6月。\n\n(二) 期刊資料：\n1. 鄭榮治 , "有關壽險責任準備金提存標準之探討" , 中華民國精算學會學報 , 第一期 , 民國66年3月。\n2. 方明川 , “個人年金之再保險簡論” , 壽險季刊第89期。\n3. 方明川 , “壽險業與年金的資產-負債管理問題與分析” , 壽險季刊第90期。\n4. Harold D, Skipper, 歐興隆 譯 , "美國年金的性質與重要性及其適用於臺灣的可行性” , 壽險季刊第90期。\n5. 方明川 , “年金保險與稅賦” , 保險專刊第28輯。\n6. 吳福山 , “從美國年金銷售與所得稅制 談我國個人年金之發展” , 保險專刊第31輯。\n7. 柯典偉 , “年金概論” , 中華民國精算學會會報第15期(第一冊)。\n8. 陳清江、尤慶文 , “個人年金商品之探討” , 中華民國精算學會會報第15期(第一冊)。\n9. 林秀齡 , "現金流量分析簡介” ,中華民國精算學會會報第16期(第一冊)。\n10. 邵慧中 , “壽險公司資本額需多少？” , 中華民國精算學會會報 第16期(第一冊)。\n11. 許健文 , “個人年金保險責任準備金探討” , 中華民國精算學會會報 第16期(第一冊)。\n12. 張秋政 , “躉繳保費年金和相關產品之評估” , 中華民國精算學會會報 第17期(第一冊)。\n13. 朱立明 , “人壽保險公司資金之資產管理” , 中華民國精算學會會報 第17期(第二冊)。\n\n\n\n二．英文參考文獻\n1.Chester Wallace Jordan, Life Contingencies, The\nSociety of Actuaries, 1975 2nd Edition\n2.Lewis C. Workman ,Mathematical Foundations of Life\nInsurance ,FLMI Insurance Education Program Life\nManagement Institute, LOMA l 1987\n3. Life and Hea1th Insurance Hand book II, 1973 3rd\nEdition\n4.Mark A. Tullis & Philip K. Polkinghorn, Valuation\nof Life Insurance Liabilities, ACTEX Pulications ,\n1992 2nd Edition \n5.Kenneth Black & Harold D. Skipper, Life Insurance\n, 1987 11th Edition 0\n6.John E. Tiller, Jr & Denise Fagerberg, Life, Health, and Annuity Reinsurance, ACTEX Pulications\n7.S. Travi-s Pritchett & John E. Stinton & Larry A. C\n-ox & Frederick W. Schroath , Individual Annuities\nas a Source of Retirement Income , LOMA , 1982 Revised Edition\n8 .Jay M. Jaffe, “The Application of the Commissioners Annuity Reserve Method to Fixed Single Premium\nDeferred Annuities" , Transactions Vol :XXXIV, 1982 0\n9.Peter D. Noris & Sheldon Epstein, Finding the \nImmunizing Investment for Insurance Liabilities: The\nCase of the SPDA I Course I-230 Study Note I Society of Actuaries (SOA) \n10.James A. Geyer, Valuation of Assets and Liabilities in a Volatile Interest World, Course 1-340 Study Note , SOA\n11 . Donna R. Clarire & Esther H. Milnes, Description of New York Regulation 126 , Course 1-443 Study Note , SOA \n12.Life Insurance Company Statutory Valuation, Course\nI -443 Study Note , SOA \n13.Regulators Perspective on Actuarial Opinions and Valuation , Course I -443 Study Note , SOA 0\n14. 1991 Proceedings of te National Association of Insurance Commissiners Volume IA , 1990 Dec\n15.Seminar on Annuities, Transamerica Reinsurance\n, 1994 ApriI Taipei , Taiwan\n16.S&P`s Outlook on the Life/Health Insurance Industry\n, Standard & Poor`s Insurance Rating Services \n17.John F. Fitzgerald, "Is there Single-Premium Life\nafter Baldwin-United?" , Journal of American Society of CLU & CHFC , 1988 july \n18.Willim V. Harris, "The Three Host Overlooked Benefits of Annuities" , Life Association News, 1991 Apr\n1 9.Michael M. Flynn ," SingIe Premium Whole Life: The\nSensible Alternative to Annuities" , Life Association News, 1992 Oct\n20.Rihr M. Todd & Neil Wallace, “SPDA and GICs: Like Money in the Bank?”, Federal Reserve Bank of Minneapolis, Quarterly Review, 1992 Summer\n21.Barry S. Vokes, "Unconventional Annuity Products\nin the 403(b) Tax Sheltered Annuity Market: Design\nMarketing and Rating Considerations" , Journal of\nInsurance Regulation (JIA) , Vol: 12 , 1993 Fall\n22.Richard B. Toolson , "Structuring Substantially Equal Payments to Avoid the Premature Withdrawal Penalty" , Journal of Taxation, Vol: 73 , 1990 Nov\n23.Francis D. Burke, "Extate Tax on Pension Death Benefits" , Journal of the American Society of CLU & CHFC , Vol: 41 , 1987 Jul \n24.Gerald I. Lenrow & Stephen S. Olds , "Deferred Annuities : The State of the Policy" , Best`s Review , Vo 1: 81 , 1980 Aug\n25.Dan W. Smith, “Investing in a Grandchild’s Future”, Best’s Review, Vol:93, 1992 May.\n26.Alice W. Su ,”Helping Carriers Balance Annuity Risk ?”, Best’s Review , Vol:94, 1993 Dec.\n27.Jorjann R. Carlson, “The Annuity … Star of the Nineties” ,Broker Word, Vol: 11, 1991 Feb\n28.Richard S. Borroughs, “The Hidden Criteria in Annuity Comparisons”, Broker World, Vol: 11, 1991 Feb.\n29.Melvin Charles Parker, “SPDA: A Boon for an Expected Bust Year”, Broker World, Vol: 12, 1992 Feb.\n30. Ralph W. Laster, “2001 : Retirement in the 21th Century”, Broker World, vol:13, 1993 May.\n31, Ben Ward, “ Product Trends” Insurers/Buyers Face Risks Needing Up-Front Approach”, National Underwriter [Life/Heath/Financial Services], Vol: 91, 1987 Sep 14.\n32, Judith Boyers Gee, “New 15% Tax Added to Excess Distributions”, National Underwriter, Vol:91, 1987 Dec 17.\n33. Barry S. Vokes, “A Case Against Two-Tier Annuities”, National Underwriter, Vol:94, 1990 Sep 3.\n34. Linda Koco, “Nursing Home Waivers Proliferate”, National Underwriter, Vol.:95, 1991 Apr 22.\n35. Linda Koco, “MVAs Gaining Annuity Market Share”,National Underwriter, Vol:95, 1991 Dec 9\n36. Ralph W. Laster "SPDA Insurers-Bruised Perhaps,\nbut Still Strong" , National Underwriter, Vol: 95 , 1991 Dec 9 \n37.Brendan Intindola , "Annuity Surrender Charges Swinging Toward Short End" , National Underwriter,\nVol: 95, 1991 Dec 9\n38.Darlene K. Chandler, "Does This Annuity Exchange\nAvoid the 10% Penalty Tax?" , National Underwriter Vol: 96, 1992 Mar 9 \n39.Darlene K. Chandler, "Annuity Exchange Doesn`t Foil the 10% Penalty Tax" , National Underwriter,Vol: 96 , 1992 Dec 14\n40.Cynthia Crosson, "HVA Fixed Accounts Catch on In\nVariable Annuities", National Underwriter, Vol:\n97,1993 Apr 19 \n41.Matthew P. Schwartz, "Higher Interest Rates Keep\nInterest Higher in SPDAs", National Underwriter, Vol:97, 1993 Jul 19\n42.Steve Briggs, "Modified Guaranteed Annuities: SPDA\nAlternative", National Underwriter, Vol: 97 ,1993 Aug 2 0\n43. Linda Koco , "SPDA Sports 3-mo " Interest Periods"\nNational Underwriter, Vol: 97 , 1993 Oct 11 0 zh_TW
