應用NPV法分析定期壽險與終身壽險之差異

Analysis of Discrepancy on Term Life Insurance and Whole Life Insurance: An Application of NPV

劉民祐(Ming-Yo Liu)

指導教授 ： 邱國欽 ； 李見發

朝陽科技大學/管理學院/財務金融系/碩士(2014年)

摘要

本論文乃就消費者如何選購壽險商品，根據自己的保險需求及預算限制，購買最經濟實惠的壽險保單，達到以最少錢得到最大保障之目的，並透過本研究第四章之實證結果與分析，最終導引如何購買最適合的險種，促使符合保險的本質。本論文的實證結果摘要彙整有三個部分。第一部分是繳費期間出險之理賠給付：終身壽險較定期壽險需付出更多的成本，而獲得理賠給付完全相同，是以在此情況下，定期壽險淨現值恆大於終身壽險，故購買定期壽險較有利。第二部分是壽命大於或等於平均餘命之理賠給付：當平均餘命時給付，其現值減掉保費之年金現值後之淨現值皆為負值，且隨壽命延長淨現值更低，顯然若購買終身壽險，且其壽命大於或等於平均餘命時，對被保險人不利。第三部分是繳費期滿未達平均餘命出險理賠，實證結果男性部分之淨現值百分之九十為負值，而女性部分之淨現值約百分之四十為正值，雖終身壽險有提存較多保單價值準備金，仍以定期壽險較終身壽險為佳。

關鍵字

保單價值準備金 ； 淨現值法 ； 終身壽險 ； 定期壽險

並列摘要

This thesis on how consumers buy life insurance products, according to their insurance needs and budget constraints, purchase the most affordable life insurance policy, to achieve the purpose of the least money to get the maximum protection and, through this study and empirical results of Chapter IV analysis, the ultimate guide on how to buy the most suitable insurance to promote compliance with the essence of insurance. The empirical results of this thesis summaries compiled in three parts. The first part is a dangerous condition for the payment of claims paid during the period: whole life insurance term life insurance will have to pay more than the cost of claims paid to obtain exactly the same, so in this case, the net present value of Evergrande in term life insurance whole life insurance, term life insurance to buy it more advantageous. The second part is greater than or equal to the life of the average life of claims paid: when the average life expectancy benefits, the present value of the net present value after subtracting the present value of the annuity premiums are negative, and with more longevity NPV low, obviously if buying life insurance, and whose life expectancy is greater than or equal to the average life expectancy of the insured person adversely. The third part is to pay less than the average life expectancy of danger expires claims, ninety percent male portion of the net present value of the empirical results is negative, while the female portion of the net present value of about 40 percent positive, although There are many life insurance policy value reserve escrow, term life insurance is still better than the life insurance.

並列關鍵字

the net present value method ； whole life insurance ； term life insurance ； the policy value reserve

參考文獻

10.徐俊明(2009)「財務管理-理論與實務」四版，雙葉書廊。

15.蔡春發(1997)。我國終身壽險與定期壽險商品之評價。朝陽科技大學保險金融管理系碩士論文。

1.SMART雜誌第187期(2014.03)，74-77。

一、中文部分

2.今週刊雜誌第902期(2014.04.07)，86-95。