Paid-up Policies and Surrender Value

Abstract

The principles upon which surrender values should be calculated are discussed at length in papers by Mr. Macfadyen (J. I. A., xvii, 381); Mr. Crisford (J. I. A., xxi, 301); and Mr. Fulford (J. I. A., xxxv, 199), but none of the methods proposed appear entirely satisfactory in practice, and I have therefore attempted to devise a scheme which shall not only give results in reasonable accordance with strict theory, but also prove simple and easily worked in its practical application.