Question
a.
A small portion surrenders every month without any seasonality effect
b.
No surrender is allowed until the policy matures
c.
A small portion surrenders every month with seasonality effect for any higher surrender in a particular month
d.
Withdrawals are assumed only after the premium frequency ends
Posted under IC 92 Actuarial Aspects of Product Development
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Q. How are withdrawal rates assumed for modeling purposes?
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