Gatzert, Nadine; Schmeise, Hato - Institut für Versicherungswirtschaft <Sankt Gallen> - 2006
survival benefits as well as participation in the return
generated by the insurer’s investment portfolio. These types of … generated by
the insurer’s investment portfolio. In this case, the policy reserve is com-
pounded with the maximum of the …
policyholder either participates directly in the investment return or according to
a smoothing scheme. Policies in which annual …