Practical Lessons in Actuarial Science; Text

Practical Lessons in Actuarial Science; Text

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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. 1905 edition. Excerpt: ...may be added to the net premium as a fixed amount (c), each year including the first. The values of Px, F, f and c are, then, determined in advance, and we have the following requirements established: 'P'x (gross premium ist year) = P'x (gross premium thereafter). 'Pr (net premium after ist year) = P, + f 'P, (net premium ist year) = 'P, --F = P, + f--F P = f (i+a, ). From these, remembering that the premium when loaded with other costs must be loaded by k per cent of itself for cost of collection and renewal, we get: P'r = ('P, + c) (i + k) = (P, + f + c) (i-f k) 'P', = ( 'P. Y P + c) d+ k) =( iP, -f c) (i + k) = (P, + f + c) (i + k) When net premiums are made by an ultimate table and reserves are computed by this net premium but by a select table otherwise, the effect is to allow the present value of all the salvage from mortality, by the select table over the ultimate table, as an offset to initial expenses. ENDOWMENTS AND INSURANCES WITH RETURN OF NET ANNUAL PREMIUMS, CONTINUOUS THROUGHOUT TERM. Suppose an insurance for life with return of all net annual premiums. Designate the net annual premium by the symbol, used in the English notation to signify any special or unusual annual premium. The value of this insurance is plainly separable into two portions, an insurance of i and an insurance of-, increasing yearly by T or, in symbols, A, + v (IA), and the annual premium may be found by dividing this value by i + a, the value of an annuity due, thus: Suppose a pure endowment due in n years with return of all net annual premiums if death occurs within n years. The value of this is nEs plus (! A)i;i and the premium may be found by dividing by i + at rrli thus: ENDOWMENTS AND INSURANCES WITH RETURN OF NET ANNUAL PREMIUMS, LIMITED PAYMENTS..show more

Product details

  • Paperback | 60 pages
  • 189 x 246 x 3mm | 127g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236602471
  • 9781236602473