The Three Systems of Life Insurance, Embracing: I. The Level Premium System. II. The Natural Premium System. III. The Assessment System

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C.J. Johnson, printer, 1885 - Life insurance - 236 pages

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Page 82 - ... period, to be determined as follows, to wit : The net value of the policy, when the premium becomes due and is not paid, shall be ascertained, according to the "combined experience," or "actuaries' " rate of mortality, with interest at four per centum per annum.
Page 93 - ... so long as such single premium will purchase temporary insurance for that amount, at the age of the insured at the time of...
Page 93 - If the reserve upon any endowment policy applied according to the provisions of this section as a single premium of temporary Insurance be more than sufficient to continue the insurance to the end of the endowment term named in the policy, and if the insured survive that term, the excess shall be paid In cash at the end of such term, on the conditions on which the original policy was issued.
Page 93 - ... according to the American experience table of mortality with interest at the rate of four and onehalf per cent, per annum after deducting any indebtedness of the insured on account of any annual or semi-annual or quarterly premium then due. and any loan made in cash on such policy, evidence of which is acknowledged by the insured in writing.
Page 124 - Such certificate shall not be filed without the written approval indorsed thereupon, or annexed thereto, of the state board of charities and of a justice of the supreme court of the district in which the principal office or place of business of such corporation shall be located.
Page 163 - ... has caused these presents to be signed by its President and Secretary, and its corporate seal to be hereto affixed the day and year first above written, (in duplicate) Witness : WT Heffernan.
Page 93 - ... dividend additions, calculated at the date of the failure to make any of the payments above described...
Page 82 - March thirty-one, eighteen hundred and seventy-seven, by any company chartered by this State which may be forfeited for nonpayment of premiums, including all notes given for premiums or loans, or interest thereon, after it has been in force three full years, and which does not provide for a surrender value at least equivalent to the value arising under the terms of this and the following section, is nevertheless continued in force to an extent, and for a period to be determined as...
Page 84 - ... any premium thereon, after the third, any further than as follows: The net value of the policy, when the premium becomes due and is not paid, shall be ascertained according to the American Experience Table rate of mortality with interest at four (4) per centum per annum. A surrender charge shall be first deducted from such net value on the following basis, to wit: From policies that have paid three full years' premiums forty (40) per cent, from policies that have paid four full years...
Page 70 - ... the present value of all the normal future yearly costs of insurance which by its terms said policy is exposed to pay in case of its continuance, computed upon the rate of mortality and interest assumed in section eleven.

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