By Eugene V. Higgins, Swiss Reinsurance Company, Heinrich Jecklin

ISBN-10: 364285611X

ISBN-13: 9783642856112

ISBN-10: 3642856136

ISBN-13: 9783642856136

The 12 months during which this primary variety of "Annals of existence assurance drugs" is going to press occurs to be the 50th Anniversary of the Swiss Reinsurance Com­ pany's job within the box of underwriting and reassuring these dangers which later grew to become often called "substandard lives". on reflection, it's a a ways cry from the outdated days whilst lifestyles insurance proposals have been both authorised or rejected on scientific grounds to the fashionable rules and strategies of score substandard circumstances either medically and actuarially. it may be assumed that during the process the previous couple of a long time ideas, or a minimum of approxi­ mate options sufficiently exact for sensible reasons, were discovered to lots of the a variety of and infrequently fairly difficult actuarial difficulties in relation to substandard guidelines, sufficient rates and reserves. No lifestyles Assurer to-day although can fail to acknowledge that actuarial ability may perhaps simply be utilized to of scientific evaluation. Even the lay less than­ substandard lifestyles hazards at the foundation author definitely realizes that the clinical and statistical difficulties inherent within the underwriting of substandard hazards are infinitely extra complicated than any actuarial outcomes of a calculated or assumed extramortality. it truly is basically this easy truth which has motivated the Swiss Reinsurance Company's plans to accentuate and increase its study paintings within the box of the scientific overview of substandard lives.

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In this case the duration n is called the median duration of a life aged x or probable lifetime. Since Lx+n = ~, the median duration of life is equivalent to 2 the period in which the original total of Lx persons has been reduced by half. According to the Swiss population life table 1948/53, the median duration of life for a boy aged 0 is about 72 years, for after this time the original population of 100,000 has been reduced to half. For the Lx = 94,272 lives aged 20 according to the life table mentioned above we have Lx+n = ~ = 47,136, which number corres2 ponds approximately to the age 73.

USA, white men; observations of the Metropolitan Life Insurance Company. Standardized figures. 1. Construction Defining the limits of groups In order to draw valid conclusions from statistics, it is usually essential to make a great number of observations or experiments; for this reason the features of regularity appearing in a statistical series are often referred to somewhat vaguely as the "law of large numbers". Statistical populations or universes are formed by assembling all the elements to be observed into groups of the greatest possible homogeneity according to clearly defined criteria.

O· p ~ ;i '" ..... p 44 H. WIESLER population on January 1, 1942 by adding the births in December and subtracting the deaths in December, this being done for each individual age. By adding the births and subtracting the deaths for each year of observation, the number of living is obtained at the beginning of each succeeding year. e. for computing the actual populations on January 1, 1940 and 1939. No account was taken in this example of any migration component. The table IV can be read in three ways: vertically, the age distribution of the population at the commencement of a specified year of observation, horizontally, decrements in a generation due to death, diagonally, the coevals at the beginning of a year of observation.

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Annals of Life Insurance Medicine: 1962 Volume 1 by Eugene V. Higgins, Swiss Reinsurance Company, Heinrich Jecklin

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