The Essence of Life Insurance: A Clear Explanation of the Basic Principles of Life Insurance, with Simple Arithmetical Demonstrations |
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Common terms and phrases
35 to pay 81,822 persons insure accumulated Age at Beginning American Experience Table amount of insurance annuity annuity contracts apply attained age benefits cent compound interest cent interest clause Continuous Annual Premium Costs of Insurance Death Claims demonstrated Endowment Insurance Policy Endowment Policy figures in column Full Net Level Gross Premium initial reserve Institute of Actuaries insurance companies insurance period Insurance Policy issued interest earned issued at age Level Premium Reserve Limited Annual Premium mium mortality costs mortality tables Natural Premiums nearest cent Net Annual Premium Net Natural Premiums Net Premium Net Single Premium Number Dying Number Surviving panies payment person aged 35 policyholders Premium for Whole premium paying period Premium Whole Premiums collected Present Value prior death PROVING THE SUFFICIENCY Rate of Mortality Reserve at End Resulting Reserves shown in column Single Premium surance survivors Table of Mortality Term Insurance Policy Whole Life Insurance Whole Life Policy yearly
Popular passages
Page 75 - A provision which, in event of default in premium payments, after premiums, shall have been paid for three years, shall secure to the owner of the policy a stipulated form of insurance, the net value of which shall be at least equal to the reserve at the date of default...
Page 95 - ... the reserve thereon at the end of any year, including the first shall not be less than the reserve on a twenty payment life preliminary term policy issued in the same year and at the same age, together with an amount which shall be equivalent to the accumulation of a net level premium sufficient to provide for a pure endowment at the end of the premium payment period, equal to the difference between the value at the end of such period of such a...
Page 95 - ... consideration to be received, a clause plainly showing that the first year's insurance under such policies is term insurance, purchased by the whole or a part of the premium to be received during the first policy year and shall be valued accordingly...
Page 75 - ... to the owner of the policy a stipulated form of insurance, the net value of which shall be at least equal to the entire reserve held by the company on the policy...
Page 95 - If the premium charged for term insurance under a limited payment life preliminary term policy providing for the payment of all premiums thereon in less than twenty years from the date of the policy, or under an endowment preliminary term policy, exceeds that charged for like insurance under...
Page 95 - ... which shall be equivalent to the accumulation of a net level premium sufficient to provide for a pure endowment at the end of the premium payment period, equal to the difference between the value at the end of such period of such a twenty payment life preliminary term policy and the full net level premium reserve at such time of such a limited payment life or endowment policy.
Page 106 - Except as herein provided the payment of a premium or installment thereof shall not maintain the policy in force beyond the date when the next premium or installment thereof is payable.
Page 95 - ... contribution to be received during the first contract year, and such contracts may be valued on the basis of the mortality table and interest rate above prescribed by the preliminary term plan modified as follows: If the premium charged for any contract exceeds that charged for like insurance under twenty payment life preliminary term contracts of the same company, the reserve thereon at the end of any year, including the first, shall not be less than the reserve on a twenty...
Page 150 - He is a fellow of the Actuarial Society of America, the American Institute of Actuaries, and the Casualty Actuarial and Statistical Society of America.
Page 149 - was intended to represent the death rate among insured lives residing in salubrious districts after the effects of medical selection were eliminated.