关键词: 重大疾病保险, Markov模型, Gompertz-Makeham模型, 分段Perks公式

Abstract: Commercial critical illness insurance has increasingly become an important tool for individuals and families to prevent disease risks and lead a healthy life. China Life Insurance Morbidity Tables (2020), released on November 5th, 2020, provides a more accurate basis for the adjustment of the rate of critical illness (CI) insurance. Based on the continuous time three-state Markov model, this paper employs the Gompertz-Makeham model and the piecewise Perks formula to model the mortality intensity and morbidity intensity of healthy residents respectively with the empirical life table and the morbidity table, to obtain the pure premium of CI insurance of 18 to 60-year-old people. We also calculate the pure premium rate of CI insurance based on China Life Insurance Morbidity Tables (2013) and compare it with the premium rate of 2020 edition. Although the range of critical illness in 2020 is expanded, in terms of the same insurance liability, the pure premium rates for males and females have both decreased due to the change of the definition of critical illness. The pure premium rates of males are higher than that of females on the whole, yet the rates of males between 21 and 60 years old has decreased more than that of females.

Key words: Critical Illness Insurance, Markov Model, Gompertz-Makeham Model, Piecewise Perks Formula