不動產逆向抵押型房貸的抵押品處置時間對保險費制定的影響

The Impact of the Time Required for the Repossession of the Collateral after Loan Termination on Insurance Premiums

潘濟民(Ji-Min Pan)

指導教授 ： 林哲群

國立清華大學/科技管理學院/計量財務金融系/碩士(2013年)

摘要

有鑑於台灣人口結構逐漸邁向高齡化，老年人口急速增加也使得許多社會問題孕育而生，因此行政院內政部為了因應此情況，於2012年推出不動產逆向抵押型房貸(RM)方案，在老年人能於自己房屋內頤養天年的前提下，將其擁有之房屋權益轉換為現金，以支付日常生活所需，使其不動產能同時發揮居住和融資的雙重功能。本文利用台灣生命表來得知國人的平均預期餘命，並考慮房價成長率、市場利率等重要因素，推算出借款人的可貸額度和銀行每月須支付的金額。接著建構保險費之架構，在全部預期索賠損失的現值(PVEL)等於全部預計抵押貸款保險費之現值(PVMIP)的損益兩平情況下，計算出其中的差額，然後從保險公司處置抵押品所花費的時間來比較損失的多寡，最後由保險公司的角度來衡量出最佳的處置抵押品時間和最適當的保險費費率，讓整個逆向抵押的過程能夠達到最有效率的情況，並期待能為台灣未來發展逆向抵押貸款提供重要的資訊。

關鍵字

不動產逆向抵押型房貸 ； 處置抵押品花費的時間 ； 保險費費率

並列摘要

Due to the increasingly aging population in Taiwan, more and more social problems arose. Therefore, the Ministry of the Interior will publish the Reverse Mortgage Plan in 2012 to solve the problems. Under the premise that the greybeards could live in their houses throughout their lives, they could transform their ownership of houses into cash to cover their daily expenses. After that, the real estate could simultaneously bring the effect of living and financing into full play. First, we use the Taiwan Life Expectancy Database and simulate house prices and interest rates to estimate the constant annuity and the maximum loan to value. Second, we build the insurance pricing model of reverse mortgage, and then determining the best time required for the repossession of the collateral after loan termination and the most appropriate premium rates under the condition satisfying the present values of expected claim losses (PVEL) are equal to that of insurance premiums (PVMIP). Finally, the Reverse Mortgage Plan can be more complete by using the method above. We hope it will be useful for the development of reverse mortgage.

並列關鍵字

Reverse Mortgage ； Time Required for the Repossession of the Collateral after Loan Termination ； Insurance Premiums

參考文獻

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