av_pp_at(t, timing)[source]#

Account value per policy

av_at(t, timing) calculates the total amount of account value at time t for the policies in-force.

At each t, the events that change the account value balance occur in the following order:

  • Premium payment

  • Fee deduction

Investment income is assumed to be earned throughout each month, so at the middle of the month when death and lapse occur, half the investment income for the month is credited.

The second parameter timing takes a string to indicate the timing of the account value, which is either "BEF_PREM", "BEF_FEE", "BEF_INV" or "MID_MTH".


Account value before premium payment. At the start of the projection (i.e. when t=0), the account value is set to av_pp_init().


Account value after premium payment before fee deduction


Account value after fee deduction before crediting investemnt return


Account value at middle of month (t+0.5) when half the investment retun for the month is credited