earticle

영어

This study evaluates GMDB(Guaranteed Minimum Death Benefit) put option of variable-universal life product with Black-Scholes option pricing model. The result is that first, life insurance company should prepare the contingency plan in regarding to investment risk of GMDB. Second, the fee for GMDB is divided by operating fund types. It means that the company consider volatility of underlying asset. According to analyzing GMDB rate as of reserve in equity fund type with between B-S model and Korean standard model, their rates are 42.14% and 2.539% respectively as of after 50years. Third, the company should establish the guide-line of standard for GMDB fee by progressing. At last, the company accumulate historical data of GMDB fee and update its data. and also, setting the internal networking to enact from market scenario formerly.