Pemodelan Premi Asuransi Jiwa Dwiguna Unit Link dengan Metode Annual Ratchet dan Hukum Gompertz
DOI:
10.29303/jm.v8i1.11061Published:
2026-03-11Downloads
Abstract
The risk of death is one of the risks that can have a significant impact on an individual’s financial
condition. Therefore, protection through life insurance is required. Unit-linked endowment life
insurance combines protection and investment benefits, with the premium amount affecting both.
This study is a quantitative research with an actuarial modeling approach that aims to model the
premium of unit-linked endowment life insurance based on stock investment using the annual
ratchet method and Gompertz’s law. Stock returns and volatility are used as the basis for
determining investment benefits under the annual ratchet method, using stock data for PT Bank
Central Asia Tbk. The annual ratchet method is applied to protect the investment value from
market declines by implementing cap and floor limits. Survival and mortality probabilities are
modeled using Gompertz’s law. The results of the study show that, based on mortality modeling
using Gompertz’s law and the annual ratchet mechanism, the net single premium for unit-linked
endowment life insurance that must be paid at the beginning of the contract was Rp 129,098,509.
These results show that applying the annual ratchet method can protect against fluctuations in
investment value while accounting for mortality risk in premium determination, making the
resulting model an alternative for developing more stable unit-linked life insurance products.
Keywords:
annual ratchet life insurance gompertz's law premiums unit-linkedReferences
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