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Home > History and Archaeology > History > Life Assurance Primer; A Text-Book Dealing with the Practice and Mathematics of Life Assurance, for Advanced Schools, Colleges, and Universities
Life Assurance Primer; A Text-Book Dealing with the Practice and Mathematics of Life Assurance, for Advanced Schools, Colleges, and Universities

Life Assurance Primer; A Text-Book Dealing with the Practice and Mathematics of Life Assurance, for Advanced Schools, Colleges, and Universities


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912 Excerpt: ...7 = VnpxAx+n (86) Endowment An Endowment Assurance provides for the Assurance. payment of the sum assured either at death within n years or on survivance of that period, and it consists, therefore, of the temporary assurance above mentioned combined with a pure endowment to provide the amount in event of survivance. These two benefits are mutually exclusive, because, if the sum assured become payable under the term portion, the endowment is not payable; while, on the other hand, if the endowment be payable on survivance, the term assurance would have expired in normal course. The combination of the two gives the single premium for an endowment assurance, namely: --A =Ai +nEx (87) x n x n Or what is the same thing: --A. = Ai +A 1 x M x tt j x JS To express the temporary assurance and the endowment assurance in terms of annuity values, let us first investigate formula (85) for the value of a temporary assurance: The form of this expression is similar to that of formula (77), and the same kind of verbal reasoning may be applied to it. Other We may now pass to the computation of annual Annual premiums for limited payment policies, term assurPremiums, ances, etc. If a Whole Life policy be taken by annual premiums limited to n payments, the value of the sum assured payable at death remains the same, but the premiums fall due over a shorter period; therefore the premium during such shorter period must be larger so that the aggregate payments may equal the benefit. In such circumstances the net premium is represented by the symbol nPx, and the total value of the net premiums is found by multiplying the annual payment by a temporary annuity for n years. The equation is: nPx (l + axj=r) = Ax From this the value of the premium may be deduced, namely: --nP =, A" (90 ...


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Product Details
  • ISBN-13: 9781231117637
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 68
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 123111763X
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 141 gr

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Life Assurance Primer; A Text-Book Dealing with the Practice and Mathematics of Life Assurance, for Advanced Schools, Colleges, and Universities
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