Annuity is widely used in daily life, but past experience most of the fixed annuity, as well as stochastic interest rate determined under the annuity. This paper considers the random fluctuations in interest rates impact on life annuities, using stochastic interest rate model, obtained Annuity relatively simple recurrence relation, and illustrates the interest rate of the random fluctuations of the Annuity's impact, the results show that the interest rate The impact of fluctuations on the pricing of annuities is very large, can not be overlooked. random interest rate on the annuity issue of applied probability and statistics in recent years has aroused great concern to industry, and has made a series of profound research.
Annuity is the economic, financial, insurance, important concepts in the field, As the complexity of stochastic interest rates and importance of research on this issue in full swing. This paper studied under stochastic interest rate annuity present value of the digital features. annuities under random rates of interest-based way of thinking and martingale, reflecting Brownian motion and random order of the theory, control stochastic interest rate the present value of expected continuous annuity, annuity given the present value of discrete random function in the sense of convex order upper bound on the community to discuss the distribution function and the stop-loss premiums, and then get the discrete random annuity is value expectations.
Keywords: annuities stochastic interest rates actuarial model expectations actuarial