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Life Assurance Primer: A Text-Book Dealing with the Practice and Mathematics ...
Sin vista previa disponible - 2015
according actual addition adopted agents American amongst amount annual premium annuity applicant assurance company average basis become benefit calculation called cash CHAPTER charge claims classes computed consideration continue contract death Department dividend earned effect Endowment Endowment Assurance entire equal event example expenses experience expression five fixed follows formula frequently Give given important increase invested issued laws less letter Limited lives loading loan loss means ment method mortality namely nature necessary obtained Office Ordinary paid payable payment period persons policy value policy-holders practice present value principles probability profit protection purchase question rate of interest reason received renewal represented reserve result risk secured selection single sometimes statement sum assured surplus surrender taken term tion United usually valuation Whole
Página 190 - If purchased at par, at the par value; if purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in...
Página 166 - If the reserve upon any endowment policy applied according to the provisions of this section as a single premium of temporary insurance be more than sufficient to continue the insurance to the end of the endowment term named in the policy, and if the insured survive that term, the excess shall be paid in cash at the end of such term, on the conditions on which the original policy was issued.
Página 10 - Any corporation, society, order or voluntary association, without capital stock, organized and carried on solely for the mutual benefit of its members and their beneficiaries, and not for profit, and having a lodge system with ritualistic form of work and representative form of government, and which shall make provision for the payment of benefits in accordance with Section 5 hereof, is hereby declared to be a fraternal benefit society.
Página 163 - ... policy was issued, and shall be applied, as shall have been agreed in the application or policy, either to continue the insurance of the policy in force at its full amount so long as such single premium will purchase temporary insurance for that amount at the age of the insured at the time of lapse or forfeiture, or to purchase upon the same life at the same age paid-up insurance payable at the same time and under the same conditions, except as to payments of premiums, as the original policy.
Página 166 - ... the aforesaid mortality and interest basis, and less any existing indebtedness to the company on the policy or secured thereby. The company may reserve the right to defer the payment of such cash value for not exceeding sixty days after the application therefor is made. The term for which the policy will be continued or the amount of the paid-up policy will be such as the cash value will purchase as a net single premium at attained age of the insured according to the mortality and interest basis...
Página 191 - ... shall have full discretion in determining the method of calculating values according to the foregoing rule, and the values found by him in accordance with such method shall be final and binding; provided, also, that any such...
Página 163 - ... after such lapse or foifeiture, be taken as a single premium of life insurance at the published rates of the corporation at the time the policy was issued...
Página 166 - ... company after December thirty-first, nineteen hundred and seven, the holder thereof, within thirty days after any default in the payment of a subsequent premium, may elect, by a writing filed with the company at its home office, (a) to surrender the policy and, with the written assent of the person to whom it is made payable, receive its value in cash, or (b) take...
Página 163 - Whenever any policy of life insurance issued after January first, eighteen hundred and eighty, by any domestic life insurance corporation after being in force three full years, shall, by its terms, lapse or become forfeited for the nonpayment of any premium or any note given for a premium or loan made in cash on such policy...