The present book addresses new insights from life insurance mathematics in the field of Markov models and stochastic interest rates. Special emphasis is placed on the applicability of the models in practice, allowing the statements to be applied directly. The models presented are particularly well-suited for enabling rapid pricing of new life insurance products. At the same time, these models provide a deeper understanding of the nature of life insurance mathematics. The unique benefit of this book lies in the parallel treatment of theory in continuous and discrete time. Additionally, the necessary background knowledge for the theoretical treatment is presented in the book. Through numerous examples, the corresponding statements can be directly implemented in practice.