Cooperation, 104, 164. Father Upchurch, 105. Variety of Contracts, 106, 107.
Capacity of the Common People, 106. Ingenuity of Ignorance, 107. Actuarial
Predictions not Verified, 108. Operation, along Social and Fraternal Lines, 109.
In Harmony with Conditions, 110. The Present Industrial Regime and Observa-
tions, 110-111.
Fraternal and Life Company Compared, 154-5. Equivalent Promises, 155–6.
Assessments-as-Needed, 156. Method of Computing Rates, 156, 164-177. Law
of Mortality, 157. Death Rate, 157-158. Distribution of Cost, 158-159. Con-
tribution and Cost, 159–160. Age and Cost, 160-161. Natural Premiums, 161.
Increasing Cost of Protection, 161. Life Expectancy, 161-162. Benefit Side
and Contribution Side, 162–3. Possibility of Performance, 163. The Insurance
Problem, 163-4. Cooperation, 164, 104.
Death, Accident and Sickness Risk, 192-3. Symbols for Premiums and Annui-
ties, 193. Inception of the Contract, 194. Varying Benefits, 193-5, 201-3.
Varying Contributions, 196-7, 202-3.
SHORT CUTS IN CALCULATIONS.
Nx, 199–
20-Year
Increas-
Commutation Columns, 197–206. Cx, 197-199. Mx, 198. Dx, 199.
200. Px=M÷Nx, 200. Benefit Side and Payment Side, 200-2.
Term, 200. Pure Endowment, 200-1. Endowment Insurance, 201.
ing or Cumulative Insurance, 202. Varying Benefits, 193–5, 202–3.
Contributions, 196-7, 202-3. R. and S. Columns, 203. Formulas to Memorize,
204. Relations Between D and C, N and M, and S and R, 205. American and
British Notation, 205-6.
PRACTICAL APPLICATION OF FORMULAS.
Principle of Computations the same for Societies and Companies, 206. Assump-
tions Different, 206. Single and Annual Premiums for Whole Life, Term and
Limited Payment Insurance and for Whole Life, Deferred and Temporary An-
nuities, 207-209. Commutation Columns for Monthly Contribution Rates,
208–9. An Original but Uselessly Intricate Formula for N2 and M12, 209–211.
Annual and Single Premiums for Limited Payment and Endowment Insurances
and Various Modifications of Insurances and Annuities, 211-212. A Novel
Plan, 212-213. Similar Symbols, 213.
FORMULAS FOR COMPUTING RESERVES.
Three Methods Illustrated, 216.
USE OF COMMUTATION COLUMNS...
Illustrated by Examples, 216–217.
Teach Insurance in Public Schools. Lack of Information Amongst Teachers.
AN ENGLISHMAN'S CONCLUSION_
Indemnity Against Loss, 219. Policy and Certificate, 219–220. Whole Life,
Limited Payment, Endowment, Term, Renewable Term, Convertible Term,
Instalment Policies or Certificates, 220. Mortality Tables, 220-222. Net Pre-
miums, 222–224. Loading, 224. The Natural Premium, 224, 259. The Re-
serve, 224-231. Life Expectancy, 231-232. Insurance Cost, 232-237. Devel-
opment of u and k, 234. Individual Reserve, 234-236. Equity of Surrender
Values, 235-236. Division of Premium into "Expense," "Mortality" and "Re-
serve" Elements, 236. Reserve a Fiction, 236-237. The Net Value, 237.
Surrender Value, 237-8. Loans, 238-9. Non-Forfeitable, 239. Incontestable,
239. Lapses, 239. Expiry, 239. Maturity, 239-240. Valuation, 240-245.
Difference for Life Companies and Fraternal Societies, 240-1. When a Test of
Solvency, 241-2. Can not be Made Test of Solvency for Fraternal Society,
241-3. Prospective Valuation, 243-4. When an Absurdity, 244. Results of,
244. Retrospective Valuation, 244-5. Reserve Values, 245-6. "Initial,"
"Mean" and "Terminal" Reserves, 245-6. Surplus, 246. Assets, 246-7. Lia-
bilities, 247. Stock, Mixed and Mutual Life Companies, 247. Renewal Pre-
mium, 247. Present Value, 247. Actual Mortality, 247. Expected Mortality,
247. Adverse Selection, 247. Group Insurance, 248-9-250. Annuity, Annui-
tant, Life Annuity, Perpetual Annuity, Temporary Annuity, Contingent Annui-
ty, Deferred Annuity, Joint Annuity, Survivorship Annuity, 250. Amortiza-
tion of Bonds, 250-1. Legal Reserve, 251. Mortality Rates, 251-2. Pensions,
252-3. Strength of Fraternity, 253. Adequate Rates, 253-4. Competing for
Adequacy, 254-5. Adequacy, Permanency, Attractiveness, 255-6-7. Legisla-
tion, 257-8. Insurance Methods, 258-9. The Natural Premium Plan, 259–265.
Level Premium Plan, 265-7. Comparison of Reserves, 267-8-9. The Last Man,
269. Concomitants of Change, 269–270. Misleading Statements, 270-1. Crit-
icism, 271-2. The Home of Brotherhood, 272-3. Health and Accident Insur-
ance, 273-4. Permanent Total Disability, 274. Readjustments, 274–5.
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