scholarly journals Book Review: United States Life Tables 1890, 1901, 1910 and 1901-10. Explanatory Text, Mathematical Theory, Computations, Graphs, and Original Statistics. Also Tables of Life Annuities, Life Tables of Foreign Countries, Mortality Tables of Life Insurance Companies

1923 ◽  
Vol 29 (2) ◽  
pp. 86-87
Author(s):  
H. L. Rietz
Keyword(s):  
United States ◽  
Life Insurance ◽  
Mathematical Theory ◽  
Life Tables ◽  
Insurance Companies ◽  
Foreign Countries ◽  
Explanatory Text ◽  
Life Annuities

The Pioneer in American Life Insurance Marketing

1938 ◽  
Vol 12 (5) ◽  
pp. 65-75
Author(s):  
J. Owen Stalson
Keyword(s):  
United States ◽  
Eighteenth Century ◽  
North America ◽  
Life Insurance ◽  
General Public ◽  
Colonial America ◽  
The United States ◽  
Insurance Companies ◽  
Insurance Company ◽  
Fire Insurance

Colonial America gave little thought to life insurance selling. The colonists secured protection against marine risks from private underwriters, first in London, eventually at home. It has been asserted that Philadelphia had no fire insurance until 1752; Boston none before 1795. The first corporations formed in this country for insuring lives were those of the Presbyterian Ministers Fund (1759) and a similar company organized for the benefit of Episcopal ministers (1769). Neither of these corporations offered insurance to the general public. In the last decade of the eighteenth century many insurance companies were formed in the United States. At least five were chartered to underwrite life risks, but only one, The Insurance Company of North America, appears to have accepted any. There is no basis for saying that any of these early companies tried to sell life insurance.

scholarly journals On Legislation as to Life Insurance and Life Insurance Companies

1871 ◽  
Vol 16 (2) ◽  
pp. 77-98 ◽  
Author(s):  
T. B. Sprague
Keyword(s):  
United States ◽  
United Kingdom ◽  
Life Insurance ◽  
United States Of America ◽  
The United States ◽  
Insurance Companies ◽  
The Past ◽  
Life Assurance ◽  
The United Kingdom ◽  
The Law

The past session of Parliament has witnessed the passing of an Act for the regulation of Life Assurance Companies in the United Kingdom, which, while introducing great changes in the law, still stops very far short of the system of legislation which has been for several years in operation in a few of the United States of America, and which is warmly approved of and urgently recommended for adoption by some persons in this country. The present may therefore be considered a fitting time for reviewing what has been done and considering whether any further legislation is desirable, and if any, of what nature it should be.

scholarly journals The Finances of Slave Life Insurance: Did Life Insurers Act Appropriately from a Financial Perspective?

Ad Americam ◽  
2019 ◽  
Vol 20 ◽  
pp. 45-66
Author(s):  
William Wise
Keyword(s):  
United States ◽  
Labor Force ◽  
Life Insurance ◽  
Insurance Companies ◽  
Life Insurers ◽  
Financial Perspective ◽  
National Economies

An important part of having slaves as a labor force is insuring their lives and their income. This paper explores whether antebellum life insurance companies insuring slaves did so appropriately and/or responsibly from a financial perspective. Determining whether antebellum life insurance companies did so is essential, as life insurance is a major segment of the economy of most countries and hence it is vital that life insurers perform well and are viable for the benefit of other industries and national economies, including with respect to the antebellum United States. This is the first study to investigate several critical financial elements, including premiums, expenses and mortality, of antebellum life insurance companies regarding feasibility. One characteristic of the results is that if firms employed a suitable expense assumption then the premium did not have a high enough mortality assumption and vice-versa. Additionally, most premium increases used regarding hazardous occupations, sum insured limits and location failed to adequately account for the associated increased mortality. The overall result is that, from a financial perspective, antebellum life insurers had trouble accounting for slave life insurance appropriately and/or responsibly.

The Condition and Progress of German Life Insurance Companies in the Year 1873

1875 ◽  
Vol 19 (1) ◽  
pp. 42-55
Author(s):  
A. Emminghaus ◽  
D. A. Bumsted
Keyword(s):  
United States ◽  
Great Britain ◽  
Life Insurance ◽  
Social Life ◽  
The United States ◽  
Insurance Companies ◽  
General State ◽  
The Past ◽  
Recent Outbreak ◽  
The Future

The progress of life insurance in Germany in the year 1873 was far greater than could have been anticipated from the course of events during the year. For at a time of violent reaction, such as Germany and Austria experienced in the past year, succeeding a period during which mercantile speculations had been engaged in with such frantic eagerness by all classes of the community, we should not have expected to find men either willing or able to give that calm and self-denying consideration to the future, upon which life insurance depends. With the necessaries of life at exorbitant prices, it was natural to suppose that there would be a considerable diminution in the number of those who, after meeting the claims of the day, would be able to provide for the future. While the general state of society thus led to the conclusion that there would be a diminution in the number of insurances, there was also reason to fear that the mortality would be greatly increased through the recent outbreak of cholera, which extended over a large district, and held its ground very firmly for some time. In both respects, the returns for 1873 were more favourable than we expected; and this furnishes another proof of the fact that, in those parts of central Europe from which our returns are derived, life insurance has not yet become so general, that all the occurrences of domestic and social life, or even events involving important changes, have any distinct influence upon its development. It cannot be denied that in Germany, Austria, and Switzerland, life insurance is not nearly so well understood as in Great Britain and the United States.

The Decennial of the Actuarial Society of America

1900 ◽  
Vol 35 (2) ◽  
pp. 130-135
Author(s):  
Israel C. Pierson
Keyword(s):  
United States ◽  
New York ◽  
Life Insurance ◽  
The United States ◽  
Insurance Companies ◽  
The Third

The Institute of Actuaries had been in existence forty-one years when the first decisive steps were taken by the actuaries of America to form an Association for the promotion of the Science of Life Insurance. It happened that in February 1889, Messrs. David Parks Fackler, Clayton C. Hall, Sheppard Homans, Emory McClintock, and Howell W. St. John (the third and fourth being respectively a Corresponding Member and a Fellow of the Institute), independently thought of proposing an organization of actuaries. Somewhat by accident their ideas were intercommunicated. On the request of the four other gentlemen, Mr. Fackler sent letters to the actuaries of the regular Life Insurance Companies in the United States and Canada, which called forth replies cordially favourable to the project. Accordingly, in response to an invitation of actuaries resident in New York, on 24 April 1889 twenty-nine of the actuaries met at the Astor House in New York, and, after a conference which exhibited a marked unanimity, founded the Actuarial Society of America. On 25 April, they adopted a Constitution and elected officers.

Mortality differences between smokers and non-smokers

1988 ◽  
Vol 115 (3) ◽  
pp. 519-525 ◽  
Author(s):  
B. Benjamin ◽  
R. Michaelson
Keyword(s):  
United States ◽  
Life Insurance ◽  
United States Of America ◽  
Life Tables ◽  
Males And Females

By courtesy of Robin Michaelson, data derived from a United States of America life insurance experience (1970–75) for individually insured lives was made available. The data consisted of the proportions of smokers in the population and the ratio of smokers' mortality to that of non-smokers. In both cases separate data was collected for males and females and at integral ages from 15 to 84. From these data it was possible to construct separate life tables for smokers and non-smokers, which were subdivided for males and females. These tables are shown as Tables A–D at the end of this note.

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