本研究實際透過二張不同計價幣別過往壽險業真實銷售的躉繳終身壽險，分析在IFRS 17下不同利率建構方式對其負債公允價值及淨值變動之影響。首先本文先彙整在IFRS 17中關於折現率利率建構方式規範及各討論研究資料重點，接著說明現行台灣壽險實務於進行負債公允價值評估時所採貼現率建構方式，與中國保險公司於壽險合同負債評估時所採貼現率建構方式二者之優劣與利率穩定度表現後。再輔以實際透過二張不同計價幣別過往壽險業真實銷售的躉繳終身壽險，分析在不同利率建構方式對其負債公允價值及淨值變動之影響。最後總結後續研究可朝三個方向持續分析如何降低利率造成之負債或淨值波動，以協助台灣壽險業於IFRS 17下之經營。

This research is to analyze the impact on movement of liability fair value and net worth under different methodologies of interest rate construction via looking into the real cases of two insurance policies of single pay whole life with different currencies denominated, which were really sold in the industry in the past. Firstly, the rule and major research data of how to construct IFRS17 discount rate is summarized, and then the comparison between two methodologies of discount rate construction is introduced; one is from the practice of liability fair value in Taiwan life insurance industry, and the other is from the practice of insurance contract liability in China life insurance industry. Secondly, by looking into the examples of two insurance policies from the single pay whole life product with different currencies denominated, the analysis of movement impact on liability fair value and net worth under different approaches of interest rate construction is conducted. Lastly, to support the sustainable operation of Taiwan life industry under IFRS17, the conclusion is made that three directions can be followed for continuously analyzing how to reduce the fluctuation of liability or net worth due to decrease of interest rates.

中文部分
1.中華民國精算學會，「人身保險業—國際財務報導第四號之精算實務處理準則—合約分類及負債適足性測試」，2013年4月。
2.中國銀行保險監督管理委員會，「保險公司償付能力監管規則第3號：壽險合同負債評估」，2015年2月。
3.國際會計準則理事會，「保險合約(國際財務報導準則第17號)」，正體中文版草案，IFRS 2018年版第一次徵求意見，2017年11月。
4.陳賢儀，「IFRS17對保險公司之影響分析」，國立臺灣大學管理學院碩士在職專班財務金融組碩士論文，2018年2月。
5.康欣婷，「不分紅終身壽險的保險合約負債與法定責任準備金之比較研究」，東吳大學財務工程與精算數學所碩士論文，2018年6月。
6.中華民國精算學會，「人身保險業保險合約負債公允價值評價精算實務處理準則(107年版草案)」，2018年11月。
英文部分
1.Gompertz, B., 1825, On the Nature of the Function Expressive of the Law of Human Mortality, and on a New Mode of Determining the Value of Life Contingencies, Philosophical Transactions of the Royal Society of London, 115: 513-583.
2.IASB, “IFRS 17 Insurance Contract” , May, 2017.
3.IASB, “IFRS Standards Effects Analysis” , May, 2017.
4.Lee, R. D. and L. R. Carter, 1992, Modeling and Forecasting U.S. Mortality, Journal of the American Statistical Association, 87: 659-675.
5.Milliman White Paper, “IFRS 17: Discount Rates”, March, 2018.
6.Moody’s Analysis, “Permitted approaches for constructing IFRS 17 Discount Rates”, April, 2018.
7.Smith, A. and Wilson, T., 2000, Fitting yield curves with long term constraints, Bacon & Woodrow Research Notes.