AESLtoJL_WS calculates an actuarial equivalent factor to convert a
straight life annuity for (𝑥) to a
joint & survivor annuity with a certain period for
two lives (𝑥) and (𝑦) based on
the annuity provisions and assumptions for interest, mortality, and the values
for the following parameters.
where 𝐴𝐸𝐹𝑎𝑐𝑡𝑜𝑟 is defined as:
Syntax
PVJLX_WS(FractionXY, FractionX,
FractionY, FractionN, CurrentAgeX, CurrentAgeY,
InterestRate, MortalityTableX, [YearsCertain]
|
Parameter Name |
Description |
|
FractionXY |
The
fraction (e.g., 50% or .5) payable while both 𝑥 and 𝑦 are alive. |
|
FractionX |
The
fraction (e.g., 50% or .5) payable to 𝑥 after 𝑦 has died. |
|
FractionY |
The fraction
(e.g., 50% or .5) payable to 𝑦 after 𝑥
has died. |
|
FractionN |
The fraction
(e.g., 50% or .5) payable for the remainder (if any) of the
certain period after the death of both 𝑥 and
𝑦. |
|
CurrentAgeX |
Current age of the primary annuitant 𝑥 (i.e. the age at the valuation date).
May be provided as an integer, or as a fractional amount (e.g. years &
months). |
|
CurrentAgeY |
Current age of the secondary annuitant 𝑦
(i.e. the age at the valuation date). May be provided as an integer, or as a
fractional amount (e.g. years & months). |
|
InterestRate |
The interest rate(s) to discount future
payments to calculate the present value. May be a number, a percentage, a
text string, a named range, or reference to a range. ·
Rates
can be defined using these interest definitions. ·
Note:
A value that is greater than 25% (i.e. 0.25) will be divided by 100; e.g.
if you enter 2.75 it will be treated as .0275 or 2.75%. |
|
MortalityTableX |
Mortality
table definition text string for primary annuitant 𝑥. |
|
YearsCertain |
Number of years guaranteed payments. May
be an integer, or a factional amount (e.g. years & months). |