Last Survivor Annuity EPV Calculator
Calculate the expected present value of an annuity-due that continues while at least one of two independent lives survives.
Description
Calculate the expected present value of an annuity-due that continues while at least one of two independent lives survives.
Last Survivor Annuity EPV Calculator provides a focused, reproducible calculation with explicit inputs and a deterministic result. Calculate the expected present value of an annuity-due that continues while at least one of two independent lives survives.
Use for an annuity-due that pays while at least one of two independent lives remains alive.
When to use Last Survivor Annuity EPV Calculator
Use for an annuity-due that pays while at least one of two independent lives remains alive.1
How the calculation works
Calculate the expected present value of an annuity-due that continues while at least one of two independent lives survives.
älast = ä₁ + ä₂ − äjoint 1Inputs and interpretation
Keep every input on the same valuation, timing, unit, and assumption basis. Interpret the output at the precision supported by those inputs rather than treating extra decimal places as additional certainty.
Assumptions and limitations
The identity assumes the single-life and joint-life values share timing, interest, mortality, and independence assumptions.
References
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Supplementary Notes for Actuarial Mathematics for Life Contingent Risks — Society of Actuaries