Abstract
It is easiest to understand the subject by approaching it arithmetically and remembering that in practice tables give values ofnV for integral values ofn.Throughout these notes it is assumed thatnV =nV(m) ifnis integral. The error cannot exceed 1 per cent, of the true value where the entry age is 35, or 3 per cent, where the entry age is 60. As mentioned in the Text Book, Part II., p. 346, the maximum percentage error arises whenmbecomes infinite and is one-half of the net annual premium per cent, for Whole Life Assurances. For Endowment Assurances the differences are very small, increasing with the maturity age.
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