scholarly journals Net-Premium Valuations with reference to the American Insurance Law

1871 ◽  
Vol 16 (5) ◽  
pp. 355-358
Author(s):  
Elizur Wright
Keyword(s):  
New York ◽  
Life Insurance ◽  
General Interest ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Law ◽  
American Life ◽  
Proper Method

The Insurance Times of New York having reprinted the greater part of Mr. Sprague's paper On the proper method of estimating the liability of a Life Insurance Company under its policies, and Mr. Makeham's letter which appeared in the same number of this Journal, the Hon. Elizur Wright has thought it desirable to explain the aim of the American Insurance Law in a letter to that periodical, from which we make the following extract. We do this not only on account of the general interest with which Mr. Wright's views will be read, but still more because he corrects a misconception as to the object and purpose of the American Life Insurance legislation.—Ed. J. I. A.

Blood pressure among standard lives

1939 ◽  
Vol 70 (1) ◽  
pp. 60-64 ◽  
Author(s):  
Arthur Hunter
Keyword(s):  
Blood Pressure ◽  
New York ◽  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
New Policies

There are so many phases of the problem of blood pressure that I shall limit myself to dealing with a recent investigation of the mortality on lives accepted as “standard risks” by the New York Life Insurance Company.The experience investigated was that of new policies issued from 1925 to 1936, inclusive, observed from entry until the anniversaries of the policies in 1937. The investigation was by policies and was divided into two groups, (a) those in which there was no impairment, and (b) those in which there appeared minor impairments but not of sufficient moment to place the policyholders in a substandard group. The expected deaths were obtained according to the company's standard experience for the same years of issue and exposure. The total number of policies emerging by death was 9552.

The Philippine American Life Insurance Company.

ILR Review ◽  
1956 ◽  
Vol 9 (2) ◽  
pp. 328 ◽  
Author(s):  
Felician Foltman ◽  
John Lindeman ◽  
Naty Osorio Aguinaldo
Keyword(s):  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
American Life

scholarly journals Most Efficient Fluctuation Reserves

1974 ◽  
Vol 8 (1) ◽  
pp. 66-76
Author(s):  
D. G. Halmstad
Keyword(s):  
New York ◽  
Life Insurance ◽  
Income Tax ◽  
Absolute Amount ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Stock Company ◽  
Similar Nature ◽  
Minimum Capital ◽  
Group Life

In 1935 the New York Insurance Department introduced the concept of special contingency funds for certain types of insurance. Such requirements had first been introduced in 1925 for mutual workmen's compensation companies. Clear, consistent principles for these funds were not stated at the time, but their purpose seems to be to provide a cushion that may be used in time of serious financial difficulty.In group life insurance, this fund is a “special contingency reserve” and is carried at the suggestion of the New York Department). For mutual casualty, nonprofit hospitalization and medical indemnity plans, and for reciprocal insurers, the fund is treated as “special contingent surplus”, and is a mandated substitute for the minimum capital required of stock insurers). The U.S. federal Life Insurance Company Income Tax Act of 1959 recognizes special credits of a similar nature for health, non-participating life and group life and health insurance coverages.In all of these cases, the accumulations or credits are defined by a designated percentage of premiums). For the New York Department group life reserve and the Income Tax health and group life credit, a maximum is defined by a second percentage of the same annual premiums base. For the nonprofit plans' surplus, a similar maximum in terms of premium is used. However, in the case of mutual casualty companies, and of reciprocal insurers, the “special contingency surplus” must be built up to a defined absolute amount equal to the amount that would be required as capital of a stock company; there are no statutory provisions for withdrawing any part of such a fund once it is accumulated.

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