Formula for joint survivor benefit

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  • #10013
    tope
    Participant

    I am trying to price a benefit in excel but wanted to create a formula for benefit as follows:

    Benefit pays 100% to member (x) and spouse (y), if spouse dies, benefit reverts to an single annuity, if member dies first benefit is paid at 75% continuous to the spouse

    I see this as an ax(bar) computation but how do I seperate out the benefits

    I have this formula

    100% * axy

    +  75% * vt tpx qx+t * ay

     

    OR

     

    75%* ax –  25%*(ay-axy)

     

    Please let me know if Im on the right trach

     

     

     

     

     

     

     

    #10014
    tope
    Participant

    Thanks

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