Abstract
1. In the following Paper I propose to investigate formulas for use in the valuation of ordinary whole-term policies, endowment assurance policies, and limited-payment policies; with special reference to the modifications which these of formulas are subject, when the next premium Paper is due, not immediately, but at the end of some fractional portion of a year, and when the premiums are payable half-yearly or quarterly.2. It may be well to point out that it is no part of my plan to deal with the more important questions of principle that arise in connection with a Life Office Valuation, such as:—What mortality table or rate of interest should be used, Whether the valuation ought to be a net premium or a gross premium valuation, How the effect of selection should be allowed for, or whether any allowance should be made for the special expenditure of the first year.
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More From: Transactions of the Actuarial Society of Edinburgh
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