Assessment Life Insurance: A Treatise Showing the Origin, Development and Condition of the Assessment System of Life Insurance (Classic Reprint)

Assessment Life Insurance: A Treatise Showing the Origin, Development and Condition of the Assessment System of Life Insurance (Classic Reprint)

by Miles M. Dawson
     
 

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Excerpt from Assessment Life Insurance: A Treatise Showing the Origin, Development and Condition of the Assessment System of Life Insurance

Life insurance on the assessment plan has reached such proportions in the volume of business transacted and the benefits annually conferred that it well deserves the study of both insurance men and sociologists.

The plans

Overview

Excerpt from Assessment Life Insurance: A Treatise Showing the Origin, Development and Condition of the Assessment System of Life Insurance

Life insurance on the assessment plan has reached such proportions in the volume of business transacted and the benefits annually conferred that it well deserves the study of both insurance men and sociologists.

The plans and problems presented by assessment societies are so various as to involve much greater complexity and consequently greater difficulties than the comparatively uniform plans and practices of the regular companies. In the past this subject has been largely neglected by actuaries, though within a comparatively recent period some of them have taken it up and are now doing yeoman work in this field. But commonly the attitude of actuaries toward the systems has been more or less contemptuous; they have ignored its merits and sometimes exaggerated its demerits. This is unfortunate both for the associations and for the actuaries; for the associations, which have sorely needed actuarial guidance, and for the actuaries, since it has operated to narrow their field and their opportunities for earning a livelihood at useful labor. In fact, the scope of actuarial science needs to be extended in this country to correspond with its scope in other countries.

The history of assessmentism in America is one of reaction and subsequent evolution - of reaction against the hard and fast lines of legal reserve insurance and its illiberal surrender charges, and of evolution from simple but exceedingly erroneous and dangerous plans to highly specialized and approximately accurate plans.

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Product Details

ISBN-13:
9781332043545
Publisher:
FB &c Ltd
Publication date:
07/27/2015
Pages:
140
Product dimensions:
6.00(w) x 9.00(h) x 0.30(d)

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