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Flexible Income Programming

Terry Rose and Robert I. Mehr
The Journal of Risk and Insurance
Vol. 47, No. 1 (Mar., 1980), pp. 44-60
DOI: 10.2307/252681
Stable URL: http://www.jstor.org/stable/252681
Page Count: 17
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Flexible Income Programming
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Abstract

This study develops a process for determining amounts of life insurance required to meet the survivors' needs for postdeath income which exceed amounts available from such sources as social security, earnings of the surviving spouse, and personal services. Inflation rates and earnings patterns of the predeath and postdeath periods are considered in the process of dynamic income programming developed in this paper. The amount of life insurance required each year and their premiums over the program's life are generated by a computer. The postdeath income benefits are expressed as a geometrically increasing life annuity.

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