Source code for annuallife.TradLife_A.PV
# modelx: pseudo-python
# This file is part of a modelx model.
# It can be imported as a Python module, but functions defined herein
# are model formulas and may not be executable as standard Python.
"""Present values of the projected cashflows for a single traditional life policy.
This Space defines the Cells that discount the cashflows projected in
:mod:`~annuallife.TradLife_A.BaseProj` back to time 0. It is one of the
base Spaces inherited by :mod:`~annuallife.TradLife_A.Projection`.
Each present-value cell is defined recursively in ``t``: the recursion
terminates at ``t > proj_len()`` by returning ``0``, where
:func:`~annuallife.TradLife_A.BaseProj.proj_len` is the projection
length for the selected policy. Discounting uses the
:func:`~annuallife.TradLife_A.BaseProj.disc_rate_mth` cell that resolves
to :func:`~annuallife.TradLife_A.Economic.disc_rate_mth` for the
selected scenario.
Cells Summary
-------------
Premiums and Claims
^^^^^^^^^^^^^^^^^^^
Present value of premium income and of the claim cashflows by cause.
.. autosummary::
~pv_premiums
~pv_claims_death
~pv_claims_mat
~pv_claims_surr
~pv_claims
Expenses and Commissions
^^^^^^^^^^^^^^^^^^^^^^^^
Present value of acquisition, maintenance and total expenses and of
commissions.
.. autosummary::
~pv_exps_acq
~pv_commissions
~pv_exps_maint
~pv_expenses
Net Cashflow
^^^^^^^^^^^^
Present value of the net liability cashflow and the interest accreted
on it.
.. autosummary::
~pv_net_cf
~interest_net_cf
Validation
^^^^^^^^^^
An alternative recursive net-cashflow present value and the check
that it agrees with :func:`pv_net_cf`.
.. autosummary::
~pv_net_cf_for_check
~pv_check
Exposure
^^^^^^^^
Present value of the insurance in force.
.. autosummary::
~pv_sum_insur_if
"""
from modelx.serialize.jsonvalues import *
_formula = None
_bases = []
_allow_none = None
_spaces = []
# ---------------------------------------------------------------------------
# Cells
[docs]
def interest_net_cf(t):
"""Interest accreted on pv of net cashflows
.. seealso::
* :func:`pv_net_cf`
* :func:`~annuallife.TradLife_A.BaseProj.premiums`
* :func:`~annuallife.TradLife_A.BaseProj.expenses`
* :func:`~annuallife.TradLife_A.BaseProj.disc_rate_mth`
"""
if t > proj_len():
return 0
else:
return (pv_net_cf(t)
- premiums(t)
+ expenses(t)) * disc_rate_mth(t)
[docs]
def pv_claims_death(t):
"""Present value of death benefits
.. seealso::
* :func:`pv_claims`
* :func:`~annuallife.TradLife_A.BaseProj.claims_death`
"""
if t > proj_len():
return 0
else:
return (claims_death(t) + pv_claims_death(t+1)) / (1 + disc_rate_mth(t))
[docs]
def pv_claims_mat(t):
"""Present value of maturity benefits
.. seealso::
* :func:`pv_claims`
* :func:`~annuallife.TradLife_A.BaseProj.claims_mat`
"""
if t > proj_len():
return 0
else:
return (claims_mat(t) + pv_claims_mat(t+1)) / (1 + disc_rate_mth(t))
[docs]
def pv_claims_surr(t):
"""Present value of surrender benefits
.. seealso::
* :func:`pv_claims`
* :func:`~annuallife.TradLife_A.BaseProj.claims_surr`
"""
if t > proj_len():
return 0
else:
return (claims_surr(t) + pv_claims_surr(t+1)) / (1 + disc_rate_mth(t))
[docs]
def pv_claims(t):
"""Present value of total benefits
.. seealso::
* :func:`pv_claims_death`
* :func:`pv_claims_mat`
* :func:`pv_claims_surr`
* :func:`~annuallife.TradLife_A.BaseProj.claims`
"""
if t > proj_len():
return 0
else:
return (claims(t) + pv_claims(t+1)) / (1 + disc_rate_mth(t))
[docs]
def pv_check(t):
"""Difference between :func:`pv_net_cf` and :func:`pv_net_cf_for_check`.
Used as a numerical sanity check; should be zero (within floating
point error) at every ``t``.
.. seealso::
* :func:`pv_net_cf`
* :func:`pv_net_cf_for_check`
"""
return pv_net_cf(t) - pv_net_cf_for_check(t)
[docs]
def pv_exps_acq(t):
"""Present value of acquisition expenses
.. seealso::
* :func:`pv_expenses`
* :func:`~annuallife.TradLife_A.BaseProj.exps_acq`
"""
if t > proj_len():
return 0
else:
return exps_acq(t) + pv_exps_acq(t+1) / (1 + disc_rate_mth(t))
[docs]
def pv_commissions(t):
"""Present value of commission expenses
.. seealso::
* :func:`pv_expenses`
* :func:`~annuallife.TradLife_A.BaseProj.commissions`
"""
if t > proj_len():
return 0
else:
return commissions(t) + pv_commissions(t+1) / (1 + disc_rate_mth(t))
[docs]
def pv_exps_maint(t):
"""Present value of maintenance expenses
.. seealso::
* :func:`pv_expenses`
* :func:`~annuallife.TradLife_A.BaseProj.exps_maint`
"""
if t > proj_len():
return 0
else:
return exps_maint(t) + pv_exps_maint(t+1) / (1 + disc_rate_mth(t))
[docs]
def pv_expenses(t):
"""Present value of total expenses
.. seealso::
* :func:`pv_exps_acq`
* :func:`pv_commissions`
* :func:`pv_exps_maint`
* :func:`~annuallife.TradLife_A.BaseProj.expenses`
"""
if t > proj_len():
return 0
else:
return expenses(t) + pv_expenses(t+1) / (1 + disc_rate_mth(t))
[docs]
def pv_net_cf(t):
"""Present value of net cashflow
.. seealso::
* :func:`pv_premiums`
* :func:`pv_expenses`
* :func:`pv_claims`
* :func:`pv_net_cf_for_check`
* :func:`pv_check`
* :func:`interest_net_cf`
"""
return (pv_premiums(t)
- pv_expenses(t)
- pv_claims(t))
[docs]
def pv_net_cf_for_check(t):
"""Present value of net cashflow computed recursively for validation.
An alternative recursive definition of :func:`pv_net_cf` used by
:func:`pv_check` to verify that the closed-form sum and the
recursion agree.
.. seealso::
* :func:`pv_net_cf`
* :func:`pv_check`
* :func:`~annuallife.TradLife_A.BaseProj.premiums`
* :func:`~annuallife.TradLife_A.BaseProj.expenses`
* :func:`~annuallife.TradLife_A.BaseProj.claims`
"""
if t > proj_len():
return 0
else:
return (premiums(t)
- expenses(t)
- claims(t) / (1 + disc_rate_mth(t))
+ pv_net_cf(t+1) / (1 + disc_rate_mth(t)))
[docs]
def pv_premiums(t):
"""Present value of premium income
.. seealso::
* :func:`pv_net_cf`
* :func:`~annuallife.TradLife_A.BaseProj.premiums`
"""
if t > proj_len():
return 0
else:
return premiums(t) + pv_premiums(t+1) / (1 + disc_rate_mth(t))
[docs]
def pv_sum_insur_if(t):
"""Present value of insurance in-force
.. seealso::
* :func:`~annuallife.TradLife_A.BaseProj.insur_if_beg1`
* :func:`~annuallife.TradLife_A.BaseProj.sum_assured`
"""
if t > proj_len():
return 0
else:
return insur_if_beg1(t) + pv_sum_insur_if(t+1) / (1 + disc_rate_mth(t))
