New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-07-23
LIFE INSURANCE JOURNALISM.


10 whose monthly journal We referred the other day to
show the poor quality Of the lfe-insursnce seienc'
which gets circulated in th. country appears 10 bis LAST
number to be much ssitated BY that reference He
overEhelms The Trbnne, or he pithIy calls IT,
Horace" with Latin. Wit and logic, all Of it bearing
strong family resemblance TO bis unfortunate mlthe
MATES to which be adds and vulgary that are
undoubtedly genuine But is worthy Of note that he
does not attempt Justify the mode Of ejaculation b.
which De the verge the bottom Of bankruptcy
three companies thar refused 70 advertise in has co.,
umns He merely struggles 70 show thai what ne
called bis dvaricsti0n could not have been black
mail operation because the two companies which he
made to suffer little or nothing by il more adTer
tise With him than the third which he doomed TO hope
less Insolvency That viii not do, Mr. Tackett Your
CONCLUSIONS as any intelligent reader mus, perceive,
we're far from being complimentary to either Of the
three companies. The NeW-York Mutual and the
Mutual Benefit Of NeEJersey allowed by you 10 be
in condition in which continued existence is possible,
while minor companies that advertise with you, though
s, 10 the experiment al stage of their existence,
commended as cafe and prosperous Is ihs all that the
two leading and best established companies might ex
rect if they bestowed their patronage Mr. Tucket
i
about IT, t. assume different figure for the average age
Of their policies and by so doing be could have
them in exemplary position, far above the reach
of ruin Would not actusry who assumes so easily
have been sure 70 do so, provided be Lad had
Hotrc.
Mr. Tucbett tells he i, vel supplied with actuarial
tables We are glad to hear Il, and advise him en-
ploy them upon the actual policies Of Company aud
not on bis assumption guess OF the areagc of s
policies before lie ventures to pronounce its doom,
whether it adyertises 10 bis paper or not Our oeec-
ton was not to the truth Of Mr Tucketts concas0ns
Of that we know nothing way the other. We
blamed bin for pretebdng 20 arrive at those concu
sons scientifically when his figures only applied
ese our q very improbable assump ion, the very same
as.umpti being made for three Companies Of qnite
different sges SupposDg the three Companies all 20
have been in On equally sound condition. Mr. Tuck.
etts single assumption for all, which was ,ucb to
make the Oldest Company barely solvent in case Of
surrender, il was inevitable that the youngest would
have the worst Of it and be made ont s8iDde TIE
calculation, Whatever be motive, that led u it, is
sham aud a humbug and calling it divarcatol1
does rot help the matter. / more resembles Preya
IcatnD. man who PROCESSES to be guide in Life
Insurance matters ought TO know that the liability OF
Life Insurance Company, especially one Of several
yeaIs standing cannot be determined to any prdc zeal
purpose from the arerGge age of the parties insured
and The Acreage duration Of their policies. if such
sge correctly ascertained much less from an as
sumption OF such averages TIE average which may be
true for one Company, may not be true ior another
even Of The same sge, fof different Companies are d.
fercnty conducted and if they not, the Law of
chance as governing such has not beea sui
cieuty s,certaind There is quite uncertainty enough
in tie general law Of human mortality. aud in that OF
insured lives, at er all observations and adjustments,
but when either of these laws and it makes much
difference which is used is applied 70 averages, or whas
is worse STILL assumed averages me result is entirely
unworthy Of science. The fallacy of proceeding upon
averages may be easily illustrated thus
TIE net value OF, present mathematical liability
on Two policies Of : 900 each, parties aged - az
the tine Of nsuring .upposirg the sixth premium to
have been inst paid j.. according 10 rhe % combined
" experience rate Of mortality, az per cent Sli0 80
II the Two parties Of the ages - and H. making he
average age 80 tie values by the rule at the
time are together Sl61 So IT, again, the ages are ID
and 81, making the average as before, the values
together are 500 g. Moreover, ii the tao policies on
tie parties actually aged 80 have been in force cot both
five years, but has just paid It's third aud the other
its ninth premium, averaging six premiums paid on
each then the aggregate value not $40 - before
but Sl52 - BY the same rule Aforesaid. Aud if the
ages average 3d. being Is aud the other 81. the
former having paid three premiums and the latter nine
then the aggregate value or liability is not before
$50 ., bur SZi5 "a. And if nine premiums have /
been paid BY the party aged - aud three by the other
then again the aggregate vale Of the policies is neither
$50 > nor S2ij o., but only $40 L. Thus, il .
appears that calculating either actual or assumed
averages is no better than guessing outright When the
basis is not guessed at t amounts 10 about the same
thing as coDfoundng an arithmetical with geometrci
series As SIR Tuckett practices it, il is Ike protesting
to find the circumference Of the globe by guessing the
dth OF the oceans and adding % the sum the width o.
the continents as measured by chain Of four rods.
little more or less There is occasion 70 deny thai
Mr. Tucketts journal embodies valuable statistical
Information on Life Insurance Ia this department Of
bis labors We commend him, and wish him all success.
We had only TO do with his editorial teaching, as
consulting and insulting Actuay and having shown to
le sheer quaekery the form of science without the
lower it has served our purpose Illustration and
leave Il 10 the study and admiration Of his patrons
THE SEVENTH CEN-Us.
The last Census was taken 10 $50 more than three
eors have since elspsed and the results Of that Cen