Module Handbook

  • Dynamischer Default-Fachbereich geändert auf MAT

Course MAT-61-31-K-7

Health, and Pension Insurance Mathematics (2V, 4.5 LP)

Course Type

SWS Type Course Form CP (Effort) Presence-Time / Self-Study
2 V Lecture 4.5 CP 28 h 107 h
(2V) 4.5 CP 28 h 107 h


CP, Effort 4.5 CP = 135 h
Position of the semester 1 Sem. irreg.
Level [7] Master (Advanced)
Language [EN] English
Area of study [MAT-STO] Stochastics/Statistics/Financial Mathematics
Additional informations
Livecycle-State [NORM] Active


Each winter semester at least one of the following courses will be offered:[MAT-61-15-K-7], [MAT-61-20-K-7], [MAT-61-30-K-7] or [MAT-61-31-K-7].

The lecture offer for the specialization module planned for the following three semesters will be made available on the website of the master's programme "Actuarial and Financial Mathematics".


This lecture is based on the module [MAT-61-18-M-7]. It deals with dynamic models in life insurance mathematics and with life insurance products which allow for investment in the financial market. In addition, mathematical models and specific problems of pension plans and health insurance are addressed. The following topics are covered:

Life Insurance Mathematics:

  • Dynamic models (Markov chain, continuous time),
  • Stochastic interest rates,
  • Products with investment in the financial market and guarantee funds,
  • Market consistent valuation.

Actuarial Mathematics for Pension Plans:

  • State diagrams and benefits,
  • Neuburger's model,
  • Estimation of decrement rates,
  • Premiums and actuarial reserves.

Health Insurance Mathematics:

  • Premium principles,
  • Reserves for increasing age and contract changes,
  • Profit participation and premium reductions ,
  • Risk assessment.

Competencies / intended learning achievements

Students understand the dynamic mathematical models in life insurance and life insurance products, which allow for investment in the financial market. In addition, they master the basic model requirements and methods of pension and health insurance.

They have learned to combine techniques of financial mathematics with current issues of actuarial mathematics and critically assess the corresponding insurance products. Moreover, they are able to understand and apply the concepts learnt in the module [MAT-61-18-M-7] to the specific case of pension and health insurance mathematics.


  • M. Koller: Stochastic Models in Life Insurance,
  • H. Milbrodt, M. Helbig: Mathematische Methoden der Personenversicherung.

Requirements for attendance (informal)


Requirements for attendance (formal)


References to Course [MAT-61-31-K-7]

Module Name Context
[MAT-61-12A-M-7] Specialization Actuarial and Financial Mathematics WP: Obligation to choose in Obligation to choose-Modulteil #B 2V, 4.5 LP