Scottish Bankers' Mortality and Marriage Experience, 1903–1923

1925 ◽  
Vol 10 ◽  
pp. 213-281
Author(s):  
Alexander Fraser
Keyword(s):  
Special Reference ◽  
Marriage Rates ◽  
Married Men ◽  
Collective Method ◽  
Life Annuities ◽  
Effects Of War ◽  
Husband And Wife

Synopsis of PaperInvestigation into experience from 1903 to 1923 of five Scottish Banks' Widows' Funds; Bachelors, Married Men + Widowers, Wives and Widows, dealt with separately for mortality (total exposed to risk 99,354, 1305 deaths); Bachelors and Widowers separately for marriage experience (757 marriages).Description pf methods of obtaining Exposed to Risk, etc., with special reference to exclusion of War period for younger male lives.Males:—Low mortality at younger ages ; same improvement not maintained at older ages ; Bachelor mortality much higher than for Married Men at all ages. Females :—Exceptionally light mortality at younger ages ; improvement continued to some extent to oldest ages. Comparisons made with Hewat's 1893 experience.Marriage:—Rates for Bachelors less than Hewat's at early ages, higher at principal marrying ages, and then again lower. Rates for Widowers much higher than for Bachelors. Difference between ages of husband and wife at marriage of Bachelors three years less than by Hewat.Comparisons of Monetary Values—Whole Life Annuities and Annuities to Widows by first and second Marriages of Bachelors, etc.—with values by Hewat and Huie.Valuation of Fund by new tables compared with valuation by Hewat and Huie ; reserves very similar for old-established Fund ; liabilities for young Bachelor entrants lighter.Collective method, based on deaths in period. Liability in Valuation substantially lower than by Reversionary Annuity method; examination of difference, traced mainly to effects of War on marriage status. Discussion of the two methods, with references to Schjoll's alternative Collective method, based on living at end of period.Tables at 3, 3½, and 4 per cent.; all tables given by Hewat and Huie relating to payments on marriage and to widows' annuities. Collective Method ; tables at 3½ per cent.

Scottish Bankers' Mortality and Marriage Experience, 1950-1966

1971 ◽  
Vol 33 ◽  
pp. 230-294
Author(s):  
R. P. Bews ◽  
A. P. Limb ◽  
W. M. Morrison ◽  
G. M. Murray
Keyword(s):  
Mortality Rates ◽  
Substantial Improvement ◽  
Considerable Improvement ◽  
Male Mortality ◽  
Marriage Rates ◽  
The Past ◽  
General Terms ◽  
Married Men ◽  
Collective Method ◽  
Made In

SynopsisThis paper presents the results of an investigation into the mortality and marriage experience of six widows' funds of the Scottish Banks over the period 1950 to 1966 and compares the results with similar investigations which have been made in the past. Tables of mortality rates have been produced for bachelors, married men, widowers, married men and widowers combined, all males, wives and widows, and marriage rates have been produced for bachelors, widowers and widows.The examination of the male mortality experience shows a substantial improvement over the previous 1923-43 investigation and in general terms demonstrates that widowers' mortality may be expected to be heavier than that of bachelors which in turn is likely to be heavier than that of married men. Women's mortality also shows considerable improvement but widows' mortality is heavier than wives' mortality at all ages.The trend towards higher marriage rates and towards marriage at younger ages which was so marked in the previous investigation has continued unabated and the marriage rates for bachelors for the period 1962-66, which have been used for calculating the appropriate monetary functions, demonstrate this trend when compared with the rates for the whole period and with the results of previous investigations.Monetary functions to enable valuations to be made of widows' funds at 5% interest by the reversionary method are published in the paper together with the results of valuing a model fund by this method using various assumptions. The result of valuing the model fund using the collective method is shown for comparison.

Widows' Funds: Some Notes on Theory and Practice

1951 ◽  
Vol 20 ◽  
pp. 145-191
Author(s):  
D. A. B. Scrimgeour
Keyword(s):  
Special Reference ◽  
Theory And Practice ◽  
Mortality Experience ◽  
Collective Method

SynopsisThe Paper deals with some of the problems which arise in the valuation of Widows' Funds with special reference to the Widows' Funds of certain professional bodies in Scotland.An analysis is made of data derived from the Scottish Bankers' Marriage and Mortality Experience 1923–1943 (T.F.A., 19, p. 149) with a view to determining the applicability of the Collective Method to a valuation of the “existing” at the close of that Experience.The various factors entering into a Widows' Fund valuation are examined in relation to a particular Fund and the importance of the valuation rate of interest illustrated.The Paper concludes with a discussion of the “reserve for loss on future entrants” often met with in the valuations of such Funds, and of the arguments for and against proposals which have been made for its elimination.

On the Premiums for Assurances against Issue to Widowers, Bachelors, and Married Men, or on the Calculation of the Values of Benefits depending on Marriage and on Birth of Issue

1890 ◽  
Vol 28 (5) ◽  
pp. 350-384
Author(s):  
T. B. Sprague
Keyword(s):  
Married Men ◽  
The Subject ◽  
Husband And Wife

I believe that the first publisht paper on the subject of premiums for insurance against issue was that of Mr. Archibald Day, which was read before the Institute on 31 January 1859 (J.I.A., viii, 127). In this paper he gave from the Census Statistics the numbers of bachelors and widowers living in 1851, and the numbers of marriages of bachelors and widowers in the same year; and from these he deduced the probabilities of a bachelor and of a widower of any age marrying in a year, Then by means of the last-mentioned probabilities, combined with the probabilities of life given by the English Table No. 1, he calculated the value, at 3 per-cent interest, of £1 payable at the end of the year in which a husband shall contract a second marriage. The formula he used for this purpose may be written npH(1−npw)ϕH+n−1 × vn, where H and W represent the respective ages of husband and wife, and ϕ is the probability of a widower marrying in a year. It may be remarked in passing, that this formula is only approximately correct, inasmuch as there is a contingency that is not provided for in it, namely, that the husband may be alive and his wife dead, but that he may already have married a second time.

Scottish Bankers' Mortality and Marriage Experience, 1923–1943

1950 ◽  
Vol 19 ◽  
pp. 149-218
Author(s):  
W. B. Borthwick ◽  
J. M. Denholm ◽  
J. G. Wallace ◽  
G. Waugh
Keyword(s):  
Similar Investigation ◽  
Married Men ◽  
Husband And Wife

SynopsisThe results of an investigation into the Mortality and Marriage Experience of the five Scottish Banks whose head offices are in Edinburgh during the period of 1923-1943 are presented. The general lines of the investigation follow those adopted by Mr. Fraser in his similar investigation for the period 1903-1923.The rates of mortality and marriage have been taken out separately for bachelors and widowers, and rates of mortality separately for married men, wives and widows. The relative ages of husband and wife at marriage have also been examined. Comparisons are made between the rates of mortality and marriage shown in the period 1923-1943 with those given by Mr. Fraser for the period 1903-1923. To ascertain the financial effects of the new rates of mortality and marriage, monetary functions required in the valuation of widows' funds by the reversionary method of valuation have been calculated at 3% interest. These monetary functions have been compared with the equivalent functions deduced by Mr. Fraser for the 1903-1923 period. Finally, a valuation of one of the widows' funds concerned has been made at 3% interest, using Mr. Fraser's tables and also the tables based on the 1923-1943 experience.

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