Optimal Hedging and Pricing of Equity-Linked Life Insurance Contracts in a Discrete-Time Incomplete Market

<table>Range of approximate expected accumulated residual <svg height="16.5" id="M493" style="vertical-align:-4.68874pt" version="1.1" viewbox="0 0 33.0625 16.5" width="33.0625" xmlns="http://www.w3.org/2000/svg">
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<tspan style="font-size: 12.50px; " x="0" y="0">Δ</tspan>
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<tspan style="font-size: 8.75px; " x="0" y="0">(</tspan>
<tspan style="font-size: 8.75px; " x="2.9144161" y="0">𝑑</tspan>
<tspan style="font-size: 8.75px; " x="7.5704799" y="0">,</tspan>
<tspan style="font-size: 8.75px; " x="9.7584801" y="0">𝑢</tspan>
<tspan style="font-size: 8.75px; " x="13.906928" y="0">)</tspan>
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Journal of Probability and Statistics

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Figure 2

Figure 2: Optimal Hedging and Pricing of Equity-Linked Life Insurance Contracts in a Discrete-Time Incomplete Market 