Life Insurance: A Textbook |
From inside the book
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Page x
... cost , 60. Some policies better adapted than others to meet the special needs of the insured , 60 . V. - TERM INSURANCE Advantages of term insurance , 63. Disadvan- tages of term insurance , 67. Renewable and convertible features in ...
... cost , 60. Some policies better adapted than others to meet the special needs of the insured , 60 . V. - TERM INSURANCE Advantages of term insurance , 63. Disadvan- tages of term insurance , 67. Renewable and convertible features in ...
Page 9
... cost of insurance . In other words during the early years the company is accumu- lating a fund out of excess premiums which will be drawn upon in the later years when the same annual premium becomes insufficient to meet the current cost ...
... cost of insurance . In other words during the early years the company is accumu- lating a fund out of excess premiums which will be drawn upon in the later years when the same annual premium becomes insufficient to meet the current cost ...
Page 10
... cost . The real gain from life insurance is due to the combination of many separ- ate risks into a group with a view to making possible the " substitution of certain for uncertain loss . " As already ex- plained , the larger the number ...
... cost . The real gain from life insurance is due to the combination of many separ- ate risks into a group with a view to making possible the " substitution of certain for uncertain loss . " As already ex- plained , the larger the number ...
Page 11
... cost , so it is also possible through life insurance to hedge against the uncertainty of life by providing for the pay- ment of a definite sum of money at death , whenever that may occur , to replace the economic value of the deceased ...
... cost , so it is also possible through life insurance to hedge against the uncertainty of life by providing for the pay- ment of a definite sum of money at death , whenever that may occur , to replace the economic value of the deceased ...
Page 12
... cost since the companies are enabled through the combination of many risks to determine the exact average cost of the protection for the entire group . From the com- pany's point of view we have seen that life insurance is essen- tially ...
... cost since the companies are enabled through the combination of many risks to determine the exact average cost of the protection for the entire group . From the com- pany's point of view we have seen that life insurance is essen- tially ...
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Common terms and phrases
accumulated actuarial agency agent American Experience table amount of insurance ance annual level premium annual premium annuity due application assets assignment assumed beneficiary benefit BUSINESS 80 cent chapter charged claims computed Contingent Beneficiary continue cost courts creditors death disability clause dividends earnings END OF END endowment insurance endowment policy equal expenses face value fact fraternal fund furnishes home office income increase instances insurable interest insurance company insured's investments law of average life-insurance companies life-insurance policies limited limited-payment lives loading loss maturity ment method mium mortality table mutual companies net premium net single premium option ordinary life policy paid-up pany payable period person policy loans policyholders premium payments premiums paid present value probability property insurance protection purchase pure endowment purpose rate of interest reserve risk saving secure single premium stipulated surance surplus survival term insurance term policy tion twenty usually whole-life policy
Popular passages
Page 382 - It is not easy to define with precision what will in all cases constitute an insurable interest so as to take the contract out of the class of wager policies. It may be stated generally, however, to be such an interest, arising from the relations of the party obtaining the insurance, either as creditor of or surety for the assured, or from the ties of blood or marriage to him, as will justify a reasonable expectation of advantage or benefit from the continuance of his life.
Page 437 - A provision that all statements made by the insured shall, in the absence of fraud, be deemed representations and not warranties...
Page 401 - Provided, That when any bankrupt shall have any insurance policy which has a cash surrender value payable to himself, his estate, or personal representatives, he may, within thirty days after the cash surrender value has been ascertained and stated to the trustee by the company issuing the same, pay or secure to the trustee the sum so ascertained and stated, and continue to hold, own and carry such policy free from the claims of the creditors participating in the distribution of his estate under...
Page 403 - If any beneficiary shall die before the Insured the interest of such beneficiary shall vest in the Insured.
Page 401 - ... as of the date of the filing of the petition initiating a proceeding under this title * * * to all of the following kinds of property * * * (5) property, including rights of action, which prior to the filing of the petition he could by any means have transferred or which might have been levied upon and sold under judicial process against him...
Page 382 - But in all cases there must be a reasonable ground, founded upon the relations of the parties to each other, either pecuniary or of blood or affinity, to expect some benefit or advantage from the continuance of the life of the assured.
Page 463 - ... that said member is in good standing in this order at the time of his death; and provided also that this certificate shall not have been surrendered by said member, and another certificate issued at his request, in accordance with the laws of this order.
Page 409 - ... this insurance, as to the interest of the mortgagee (or trustee) only therein, shall not be invalidated by any act or neglect of the mortgagor or owner...
Page 462 - ... benefit certificate shall bind the member and his beneficiaries and shall govern and control the agreement in all respects the same as though such changes, additions or amendments had been made prior to and were in force at the time of the application for membership.
Page 387 - ... assigned to one who has no insurable interest in the life of the insured; and...