Journal of the Institute of Actuaries, Vol. 42: Part I, January, 1908 (Classic Reprint) - Softcover

Actuaries, British Institute Of

Softcover

ISBN 10: 0243333285 ISBN 13: 9780243333288

Verlag: Forgotten Books, 2017

Inhaltsangabe

Excerpt from Journal of the Institute of Actuaries, Vol. 42: Part I, January, 1908

Such a series of tables would be extremely useful for making a valuation, but the labour of calculating them would be out of all proportion to their value. These Funds are of the nature of co-operative Mutual Benefit Associations, and not Societies for the insurance of individual risks. Each person contributes either a fixed annual sum or a percentage of his salary towards providing for all the widows and orphans in the whole body; and, if the bachelor and widower do happen to pay more than the true mathematical value of their risks, I think there are some members of the opposite sex who would be inclined to say And quite right, too.

It would seem, therefore, that the table best suited for our purpose is an aggregate one, showing the number living and remaining on the staff at each age, and the numbers who die at each age as bachelors, husbands and widowers. If all those on the staff entered at about the same age, then the calculation, by such a table, of the contributions required would be fairly accurate, and the reserve by such a table would probably be greater than a reserve by Select Tables, because the contributions to be valued are not net premiums.

In the first paper in this section, Widows' and Children's Pensions vol. Xxxviii, p. I described how my Table 45 was constructed. My Table No. 3 (jill, vol. Xxxvi, p. The numbers remaining, withdrawing and dying each year out of a certain number entering at a given age, was extended to the end of life, and taken as a basis. The numbers dying were then divided into bachelors and married by means of one of Mr. A. Hewet's tables, and the married were subdivided up to age 65 into husbands and widowers by means of Mr. G. King's Table C, in his paper On Family Annuities The numbers of husbands and widowers dying after 65 were obtained by ascertaining how many couples out of husbands and wives surviving at age 65 would survive every year to the end of life. This was facilitated by assuming that no marriage after 65 was recognized by the Funds. A table constructed with such various materials cannot be considered as very satisfactory, and it would be better, if possible, to build up one on scientific principles.

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Details zur Ausgabe

• Verlag: Forgotten Books
• Erscheinungsdatum: 2017
• Sprache: Englisch
• ISBN 10: 0243333285
• ISBN 13: 9780243333288
• Einband: Taschenbuch
• Anzahl der Seiten: 634
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