ABSTRACT
We begin to consider situations when the obligations assumed by the insurance company are connected, in one way or another, with the lifetimes of insured units. For the most part, we address life insurance and annuities. There are two main features of such insurance mechanisms. The first is the same as in non-life insurance and consists in the redistribution of risk
between clients of the insurance organization. The second feature concerns the time lag between the moments when the company pays benefits and the time of policy issue, that is, the time when the first premium is paid. In this case, the random nature of the insurance process is specified by the probability distributions of the lifetimes of insured units. In the current chapter, we consider various types of such distributions and their charac-
teristics. Chapters 8-11 concern insurance models themselves.
