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摘要翻译：
我们确定了一个有两个工薪阶层的家庭的最优人寿保险金额。我们考虑指数效用的简单情况，从而消除财富作为购买人寿保险的一个因素，同时保留人寿保险、收入和死亡概率之间的关系，从而失去该收入。对于通过单次保费或连续支付保费购买的保险，我们明确确定最优死亡福利。我们证明，如果保费是以某一特定的损失概率为目标的，那么单次保费和连续支付保费下的消费率是相同的。这样，不仅家庭在两种保费方案下的消费等价，保险公司在损失概率等价的意义上也得到了消费等价。
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英文标题：
《Life Insurance Purchasing to Maximize Utility of Household Consumption》
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作者：
Erhan Bayraktar and Virginia R. Young
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最新提交年份：
2013
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分类信息：
一级分类：Quantitative Finance 数量金融学
二级分类：Portfolio Management 项目组合管理
分类描述：Security selection and optimization, capital allocation, investment strategies and performance measurement
证券选择与优化、资本配置、投资策略与绩效评价
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英文摘要：
We determine the optimal amount of life insurance for a household of two wage earners. We consider the simple case of exponential utility, thereby removing wealth as a factor in buying life insurance, while retaining the relationship among life insurance, income, and the probability of dying and thus losing that income. For insurance purchased via a single premium or premium payable continuously, we explicitly determine the optimal death benefit. We show that if the premium is determined to target a specific probability of loss per policy, then the rates of consumption are identical under single premium or continuously payable premium. Thus, not only is equivalence of consumption achieved for the households under the two premium schemes, it is also obtained for the insurance company in the sense of equivalence of loss probabilities.
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PDF链接：
https://arxiv.org/pdf/1205.5958
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