5-State Model
This module conducts mortality analysis using the 5 state model with the following transitions:
The five states are:
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H: Healthy and not functionally disabled
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D: Healthy and functionally disabled
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M: Ill health and not functionally disabled
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MD: Ill health and functionally disabled
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Dead
Some studies have already been conducted on this model using fitted Cox Regression models. This module applies the parameters estimated from these studies to analyse the survival statistics of a given individual. The paper that this module refers to is available at: https://www.cepar.edu.au/publications/working-papers/multi-state-model-functional-disability-and-health-status-presence-systematic-trend-and-uncertainty
The transition types are numbered from 1 to 12 illustrated in the table below.
Functionalities of the module includes:
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Calculating transition probability matrices from parameters of Cox Regression model
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Creating life tables for a certain individual characteristic
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Simulating lifetime paths
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Returning key survival statistics for a certain individual
These functions can be helpful in conducting mortality studies, as well as applications in insurance pricing.