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On the Calculation of Single Life Contingencies* (Part I)

Published online by Cambridge University Press:  18 August 2016

A. De Morgan
A. De Morgan*
Affiliation:
University College, London
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Extract

It is the object of the present article to put together a number of formulae which it may be useful to the actuary to find in one place. At the same time it may show all persons who possess an elementary knowledge of algebra, that they may, with no great amount of tables, and processes of very easy application, learn to compute the value of any benefit in which the duration of one life only is concerned. The same principles, with more extensive tables, apply to cases in which two or more lives are involved.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 12 , Issue 6 , January 1866 , pp. 328 - 349
Copyright
Copyright © Institute and Faculty of Actuaries 1866

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References

page 329 note * We have re–examined this table, and find no error, by Hutton's Tables, p. 386.

page 329 note † I t will be desirable to have the spaces equal.

page 329 note ‡ We have re–examined this reprint, and find it correct.

page 338 note * With the payment class any returns of payment in case of the conditions of benefit ceasing to exist before it comes due.

page 339 note * This case can be easily calculated from th e common life tables, by a method given by the author of this article in his Essay on Probabilities (Cabinet Cyclopædia).

page 340 note * Namely, for n years from the first part, and one year of the continuation.

page 342 note * Actuaries say assurance, and others insurance. The difference may be made useful n i remembering (what the courts of law have not yet found out) that a life assurance and a fire insurance are very different things.

page 346 note * For a given year a proportion of the premiums paid by that time is simply a fixed sum.

page 346 note † Pages 339 and 340 of this reprint.—ED. A. M.

page 347 note * In the tables for interests certain it will do equally well to put the payment side forward k years.