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On the Value of a Policy

Published online by Cambridge University Press:  18 August 2016

James Meikle
James Meikle*
Affiliation:
Scottish Provident Institution
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Extract

The author commences by stating that he does not propose to consider what sums should in practice be given for the surrender of policies, or what is the value to a purchaser of a policy offered for sale in the public market; but on this occasion confines himself to the examination and explanation of the theoretical value of a policy.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 11 , Issue 5 , April 1864 , pp. 241 - 251
Copyright
Copyright © Institute and Faculty of Actuaries 1864

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References

page 244 note * It will be observed that the difference between the values of the “endowment” policy and the “endowment assurance” policy, is exactly equal to the value of the “term assurance.”—Ed. A. M.

page 245 note * For further elucidation of this point, and generally on the subject of this paper, see Dr. Farr's article on the “Finance of Life Assurance,” in the 12th Report of the Registrar-General.—Ed. A. M.