. Journal. t ProposedMethod Method Method 19101916191719181919 2,1553,1632,6202,8611,679 12,478 2,151 1,462 1,4823,169 2,330 2,3372,610 1,948 1,9282,848 2,264 2,2831,676 1 1,280 1,280 12,454 9,284 9,310 It will be seen that the values agree on the whole very well, both individuallyand collectively. The total value of the sums assured by the proposed method isless than the total by the exact method by £24 (19 I3er-cent),and the total valueof the net premiums more by £26 (28 per-cent). I should mention that,according to the arrangements in force in the jiarticular office referred to, anintegral
. Journal. t ProposedMethod Method Method 19101916191719181919 2,1553,1632,6202,8611,679 12,478 2,151 1,462 1,4823,169 2,330 2,3372,610 1,948 1,9282,848 2,264 2,2831,676 1 1,280 1,280 12,454 9,284 9,310 It will be seen that the values agree on the whole very well, both individuallyand collectively. The total value of the sums assured by the proposed method isless than the total by the exact method by £24 (19 I3er-cent),and the total valueof the net premiums more by £26 (28 per-cent). I should mention that,according to the arrangements in force in the jiarticular office referred to, anintegral number of payments were to be received in every case at date ofvaluation. The reserve by the proposed method is £3,144, and by the exactmethod £3,194, so that the reserve, excluding bonuses, is too little by £50 (-16 per-cent). The bonuses on these policies were, from various causes, not sufficient toadmit of a satisfactory test being applied, and others, therefore, were taken withthe foUowins results:. The difference between the totals of the values by the exact and proposed methods is £13 (2*12 per-cent), which is due almost entirely to one year—1912—where there were two or three lives considerably older than the average (seeremarks on page 426). The above percentages agree on the whole very well withthose given by Mr. Barnes, , xxxii, 319. On the Books and Fu7»is to be used in Scheduling the [July the year of maturity, the mean of A^„ aud A^.;^^.! was used +T. Had the values of A.^^^^rj heeii found correct to secondor third dififerences^ the error woukl not have heen so great as itis. In general, it will not be necessary to take the average ageto one decimal place: the nearest integral age will be those offices where the policies are payable at the end of agiven number of years (not a specified age), and a larger amountof business is transacted towards the close of the vear, theassurances will not mature in the middle of the year
Size: 1825px × 1369px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookauthorinstituteofactuariesg, bookcentury1800, bookdecade1850
