Tables of Net Premiums and Values: Based Upon the Institute of Actuaries' (Hm.) Table of Mortality and Interest at 3. 5 Per Cent, for Each 1, 000 of Insurance (Classic Reprint) - Tapa dura

Sinopsis

Excerpt from Tables of Net Premiums and Values: Based Upon the Institute of Actuaries' (Hm.) Table of Mortality and Interest at 3. 5 Per Cent, for Each 1, 000 of Insurance

In Canada and the United States it is customary to make an annual valuation of all policies, and it is a common practice among companies to group assurances of the same year of issue, plan, and age of assured. Assuming an even distribution of premium income throughout the year, the function used in valuation is the mean of the reserves at the beginning and end of the policy year. Hence it is essential to have the mean values of all usual forms of assurance. These values being once tabulated, a valuation of a company's policy liabilities can be readily made.

It was therefore determined to tabulate both the mean and terminal values, using different sized type for distinction. The premiums and values are based upon the Institute of Actuaries' Healthy Male Table of Mortality and interest at 3% per cent. These functions are tabulated upon a basis of 1000, inasmuch as is the standard upon which premiums, etc., are quoted in America.

In regard to the method of constructing the tables of values the accumulation formula was used in the following form.

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