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CONTENTS
CHAPTER I.
THREE REPRESENTATIVE POLICIES-THEIR CONDITIONS AND BENEFITS.
The scope of these studies..
Copy of Ordinary Life Policy
The tools we must use.....
The death-rate determines the cost..
The level premium is best.........
Finding the net single premium.
Finding the net annual premium.
Proving our figures
Some important deductions
The loading for expenses, taxes and contingencies..
The Contract-its integrity-its good faith..
Contract changes-of Beneficiary-to other forms.
Keeping the contract in force.....
The contract as a bank credit....
Loan and surrender values-surrender charge.
Computing paid-up insurance values
The surrender charge examined
Paying death-losses-equivalent values
Twenty Instalments certain and Annuity
Value of the instalment option
How dividends may be used..
Limited-Payment Life Policy
Copy of Twenty-Payment Life Policy.
The premium and the loading
Verifying the reserves
Effect of the larger reserves
Twenty-Year Endowment Policy
Computing the premium for insurance
Computing the premium for endowment
Copy of Twenty-Year Endowment Policy
Table of loan and surrender values
Summary of the discussion....
Legal requirements
Limitation of expenses
Assumed mortality gains
CHAPTER II.
APPORTIONMENT OF SURPLUS.
Select and ultimate method of valuation
Ascertaining the expense rate ..
Ascertaining the interest rate
No dividend earned in first year.
This result foreseen
Ascertaining the dividend earned in second year
vii
PERSONAL AND PUBLIC ASPECTS OF LIFE INSURANCE BY THE PRESIDENT
A plea for Federal Supervision of Interstate Life Insurance.
Compound interest tables
APPENDIX.
Compound discount tables
Table showing the necessity and the sufficiency of the net premium.
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PAGE
Net effective rates of interest, 1908
Assessment of expenses, 1908
Taxes paid by the New-York Life Insurance Company in 1910..
From the "Insurance Law" of New York-
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115
115.
§ 36. Officers and directors not to be pecuniarily interested in transactions
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§ 58. Policy to contain the entire contract; statements of insured to be representa-
tions and not warranties ....
§ 59. Certain provisions in policies prohibited
§ 60. Estimates and misrepresentations prohibited
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§ 91. Business to be accepted from licensed agents only; agents' certificate of au-
thority
123
.......
§ 97. Limitation of expenses
§ 98. Salaries of officers and agents; when fixed by board of directors.
§ 99. Vouchers
§ 100. Investments
§ 101. Standard Provisions of life policies
§ 103. Annual reports of life insurance corporations
From the Legislative Law-
§ 66. Legislative appearances
From the Penal Law—
§ 665. Misconduct of directors, officers, agents and employees of corporations
$1200. Rebates
§ 1627. Contradictory statements under oath
From the Tax Law-
§ 187. Franchise tax on insurance corporations
From the Insurance Law of Massachusetts-
§ 75. Standard provisions of life policies
Postscript
Items from New-York Life's Annual Report for 1908..
Items from New-York Life's Annual Report for 1910..
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