A Treatise on Friendly Societies (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1835 Excerpt: ...week during sickness, up to age 70, is, by Table No. XXV., = 27.2960. The value, at age 30, of an annuity of 1 payable for 40 years (or up to age 70), is found by Case No. 5, and is = 16.3833. This value increased by unity = 17.3833. Then. r: l/.oooo = 1.5702, and 1.5702.4 =. 62808, or 12s. Id., the answer. 23rd. To find the annual premium, payable from an assigned age, until a given older age less than 70, for a stated allowance during sickness, to be entered upon at the given older age, and then to continue until age 70. Rule.--Divide the value in a single payment, at the assigned age, of a weekly allowance of 1 in sickness, from the given older age until age 70, (Case 20, ) by the value of an annuity of 1, payable from the assigned age up to the given older age, increased by unity. Multiply the quotient by the stated allowance in sickness, and the product will be the annual premium required. Example.--What annual premium should be paid until age 55, by a person now aged 30, for an allowance of 8.5. per week during sickness; to be entered upon at age 55, and then to continue until age 70: rate of sickness and interest as before? The single value, at age 30, of a weekly allowance of 1 in sickness, to be entered upon at age 55, and to continue until age 70, is, by Case 20, = 10.3128. The value, at age 30, of an annuity of 1, payable for 25 years drily (or until age 55), is, by Case 6, = 14.0088. Then, by the rale, ogs-6871' a"1-6871 A =-27484' or 5s-6d: the answer.-The value of an annuity of 1 on a life aged 70 = 6.5435. The value of unity discounted for 40 years=.252572. The probability of a life aged 30 living 40 years = . Then 6.5435 X.252572 X-T =-M15 and. 16.9248.5415 = 16. 3833; which is the value, a...