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• Main Authors: Hui-Ying Hsu, 許卉盈
• Other Authors: Chuang-Chang Chang
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/47826889297534769517

碩士 === 國立中央大學 === 財務金融研究所 === 98 === Abstract Due to the constantly changes of global financial products, how to select an item with safe and stable revenue is the motivation of this research. The purpose of this research is to analyze the revenue and relative risks of investing insurance. Using TransGlobe Life Insurance Inc.’s insurance policy SN16A as the case study, the data is analyzed through matlab software tool by Monte Carlo Simulation,which is one of the more flexible method in numerical analysis. The results are: 1. When not considering the risks of currency exchange, the investment revenue is greater than zero by average. Afetr considering the exchange rate factors, the percentage of the investment revenue to be less than zero is as high as 40.82%. Thus, risks of currency exchange should not ignored. 2. After deducting the cost of insurance and additional fees, the yield of Yearly revenue is less than risk-free interest rate. 3. The low rate of involvement is limited in its influence on investment rate of return. The contract states that with a 30% of involvement rate,unless the portfolio growth rate reaches above 120%, can it be greater than the 36% of investment rate of return. This research will hopefully become the financial tool in this time of low-rate investment,in order to provide a reasonable way for investors to estimate future ROI and investment risks,and to choose appropriate items according to individual risk tolerance.