The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Life Insurance

  • Karl H. Borch
Reference work entry


A simple life insurance contract can be of two forms: (i) annuities paying specified amounts on fixed dates, provided that the insured is alive; or (ii) life insurances paying a specified amount at the death of the insured. All life insurance contracts can be built up as combinations of these two basic components.

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  3. Neuburger, E. 1974. Die Versicherungsmathematik von vorgestern bis heute. Zeitschrift für die gesamte Versicherungswissenschaft 63: 107–124.Google Scholar
  4. Ogborn, M. 1962. Equitable assurances, the story of a life assurance society. London: Allen & Unwin.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Karl H. Borch
    • 1
  1. 1.