# metadata.dc.description.abstract[].value
This paper develops life insurance pricing with different representation of its two sources of uncertainty: stochastic behaviour of mortality of the insured and fuzzy quantification of interest rates within the time horizon. Concretely we analyse endowment contracts, which are present in several financial real - world contexts as residential mortgage loans or retirement plans. We show that modelling the present value of these contracts with fuzzy random variables allows a well - founded quantification of their fair price and the risk resulting from the uncertainty of mortality and discounting rates. To do this, we firstly describe fuzzy random variables and some associated measures (mathematical expectation, variance, distribution function and quantiles) are defined. Subsequently the present value of a endowment contract (pure and mixed) is modelled with fuzzy random variables. Finally we show how the price and risk measures for endowment portfolios can be obtained

# metadata.dc.publisher[].value
Academy of Economic Studies in Bucharest

# metadata.dc.relation.ispartof[].value
Economic Computation and Economic Cybernetics Studies and Research, 2014, vol. 48, num. 1, p. 159-179

# metadata.dc.rights[].value
(c) Andrés Sánchez, Jorge de et al., 2014

# metadata.dc.source[].value
Articles publicats en revistes (Matemàtica Econòmica, Financera i Actuarial)