On Extra Premiums

Extract

The question of the premiums which should be charged to meet the eases of lives proposed for assurance admittedly incurring, or about to incur, risks more hazardous than those of the ordinary assured life, has from time to time engaged the attention of the Institute.

More stress has, perhaps, been laid upon the mortality of persons living in tropical countries, where the conditions of life are very different from those to which we are here accustomed, and statistics, obtained either from official sources or from business experience, have been furnished; whilst the only occupations to which attention has been directed are the Naval, Military, and Mercantile Marine Services, and those connected with the sale of alcohol.

With the view of obtaining, if possible, information respecting the modern practice of Life Assurance in connection with extra risks, I ventured to address to all the larger offices a Schedule intended to elicit such replies as would enable me to present a general idea of the methods applied to these cases.

In this I hope I have partially succeeded, but I need not add that the information must be regarded in a very general light. Many offices were particular to point out that, in the absence of any ascertained experience, each case of this nature would be considered upon its individual merits, and rated accordingly.