Lower and upper bounds for the acturial present value of a group life insurance policy, using joint life time distributions

When calculating the actuarial present value of a life insurance policy it is generally assumed that the lives are independent of each other. This condition is, however, not always satisfied in practice but the numerical calculation is frequently too complicated if we take into account the joint distribution of the lives. In this paper we give lower and upper bounds, in a relatively simple way, for the actuarial present value, by the use of the method of discrete moment problems.