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On Government Annuity and Assurance Rates and Regulations
Published online by Cambridge University Press: 18 August 2016
Extract
In briefly commenting upon the papers that have been presented to Parliament on the subject of life assurances and annuities now granted by Government, it is less my object to criticize the measures that have been adopted, than to explain the mode of construction of the several tables of rates that are being acted upon. In consequence of several assumptions and suppositions, these have not been computed in the mode usually adopted by actuaries.
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- Copyright © Institute and Faculty of Actuaries 1866
References
page 265 note * Will it be considered out of place if I here call the attention of computers to this very useful work? In a handy volume it contains, besides sundry smaller tables, the ordinary seven-figure logarithmic table, and also an anti-logarithmic table of like extent. The convenience of the latter table, when many numbers to logarithms of seven places have to be taken out, is hardly conceivable by those who have not made trial of it. It is a great advantage also to have both tables in a single volume. The price of the book is, I believe, only twelve shillings.
page 266 note * It may be interesting to know that the rates granted under 3 Wm. IV., cap. 14, were computed at 3¼ per cent., and that no distinction was then made between the sexes.
page 268 note * Transactions of the Cambridge Philosophical Society.
page 269 note * Rundschan der Versicher ungen, jahrgang iv., p, 291.
page 269 note † Journal de l'Ecole Royale Polytechmgue, tom xvi., p. 306.
page 269 note ‡ Bulletin de la Commission Centrale, vol. v.
page 269 note § Observations on Reversionary Payments, 5th edition, vol. i., p. 352.
page 270 note * According to the wording of the Act, at the end of every five years a valuation of the engagements made and liabilities incurred during the preceding five years is to be prepared. Suiely it cannot be intended to ignore all the transactions entered into prior to the five years preceding the valuation.
page 274 note * “On the Influence of Occupation on Health and Life;” a paper read by Dr. E. H. Thompson, at the Social Science Congress for 1862.
page 274 note † “On the Medical Estimate for Life Assurance;” by Dr. H. Ward. (Assurance Magazine, vol. viii.)