New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-12-06
IAdversementl
TBR INTERNATI0NAL LlFE -,Is1
SOCIETY OF LONDON


n as Editor Of The N Y T'fSs"e
g,R, In the eourse Of my duty one Of the Insult
,D,, Commissioners Of Massachusetts,, Il fell to me o
D,epare report In regard to the lu,erna ional lfe
Assurance Society of London, which maintaws an
agency and has done large business IN this ~ by
valuation Of policies from data furnished rs BY the
Society we became aware Of the fact toA' "a aosumu
laton from premiums ia about 81 OOoocu less thah
should be compared VIII tne a ~ Cn
American and we suppose, the beI EuToFSa, ~ "
naniea think their dGty 70 rnantal a. Oh oe1 a y.
Inc Society il is complained, and for styn' STOW
Justly that TIE style IN when ,ns lafe Isrts en-
I ,scrle and lertaiure OF Ma saehusctts, iacHs -
VIC ~, t,v and gravity which is characteristic OF
p,;,.s Blue Books. Bot the fact IL not dsproEvsu
0sbs contrary Il is confirmed by two eminent I-n
- scsparjcz Messrs. Wocibouse ana NSisyn, go.
s,r hrs valued she Societys assets and haolnres
80 disfsuct metnO(, and By rates OF nors:lIy
Saerent from each other, az wen az .ar Ga
,bt used by us The results OF theSe g55
80. cleo been verified by Prof. PIERCE, OF harVSiu
SWao whose mathematical authority VIII not DC
e,tso,ed BY any person on this side OF the htia'lo
HE b rec sets of calculations, when made 70 pear On
The sane poiut, that H. the question OF dencec 81 a.
nu,riaon resslt follows: Our hgures MAKE Inc ue
S..a-ry Al C75s6A Mr.. Woolhouse makes 1t aoou,
@9aG 90 Mr. Nelson makes il about 'oO,V IN tne
..yt. Of thee distinguished Aetuares THESE results
- 1rerv poeIioufly IL not studiOusly, concealed and
- soy,v 10 say that Prof. PIERCE has not taken any
-; M diminish this eOncealment. AS the laDors OF
III th,es of shese gentlemen have been spre@d before
h readers Of your advertising col amns evldenty wild
tbs ,nrpcse,of persuading the simple minded that
ND emf r bag can stand az well SO full one and 10
az desirable depository for the provision OF our future
widows and orphans any other, you VIII perhaps al
low me 90 lift the veil which hides the results nave
T, - hardly necessary TO defend own mode OF
valnat while it s easy TO show that theirs leads
Al verypearly the results. But SINCE u IL 30 an"
Detuotisly attacked by the English gentlemen, ana !"
difficulties OF the SUD-
ieot ! will attempt il briefly. Mr.. Woolhouse de1
clares the premiums have used TO be hcutious ana
Mr. Nelson abOrs TO prove that the ActOarles Hae
f Hertaliy ia of no authority. because II IL based on
noi;~es and not on distinct lives. ] can afford TO
9rart both Fiction il sometimes truer than TACT, ana
eevacally when we seeking rule TO gulde us IN
reneralzing or prophesying whether tne Ooh-
R,ned Experienee" or English " Actuaries kate OF
Wotaty represents an experience Of lives or OF pol
ices or of neither is Of no particular consequence
inasmuch as it holds mean place between the results
of all those observations OF mortality which are en-
titled 10 any confidence. Regarding IT as q pure ne
ron without one particle Of independent authority
Of ~ own il has nevertheless from It's position be-
tween the Carlisle experience and that OF the entire
British population as gooda nght 70 De aKen lor tlle
IaNv Of mortality as either of them. Fact however
severely observed is but hypothesis when applied 70
the future The Acuares scale has the advantage Of
ibepo well graduated and Of having the mortality 80
disiributed that IL makes the reserve OF company
aiher LARGER than would be made by others W hch
require about the premiums. IL has been adopt
ed in this Office simply the best practical rule on the
whole-erring If at ALL on the side OF safety-in re-
gard 10 Life Insurance, though IT must be confessed,
~ the same token it would the other side as
rule for the sale Of life annues. The President OF the
largest Life Insurance Company IN America, Mr. WINS
ton has lately said Our own experience thoughmore
favorable than the Actuares' Table, or that OF any
other known both in its pecuniary results and IN ts
relative mortality, compares more nearly 10 the Ac,
tuarjes than 10 the Carlisle Northampton Tables
See the Mutual LIE C0mpaHys published ELPeTteHee.
II any one still sees any practical force in Mr. Nelson
objection would refer him TO paper III the LONDON
Assuranee Magazine for July, 1857, by Mr.. Downes,
the Actuary Of the Economic Life Assurance Society
h tpsT,epes Of The Economic Society embraces period
Of nearly years and comprises the results Of
hish ry proportion Of four policies 70 three persons
The been obtained in regard to persons policies
hs osisnsd nom the experience on lives and or
material wLeher IN large % PGs on a are 1ssaSs
thscrstiesiiS most exact" Ass Mag, vol :, p. ~
William Farr esq., the author of the English = Ma
tional Life Table" man whose independent postl0n
mathematical skill, and extensive study enuue III
opinion 10 great weight, says
Petcay in reference 10 the existing state OF things IN
'FIpeienes (meanng the Aetuares Tablet and he OsIhs
Tb, undssse the met tSe y.as OF IL
psemums and consequently undes'e the smNGn. o. so
meet engagements while in mutual societies they do no
furnish the & Ss National 1ns LIFE fS ~
AHauGl RePTt Of Registrar Genera 1Ppenar Page u,
IRON this IL appears that Mr. Farr would OBJECT
valuation of tie International by the Combined T.,
perence that makes the deficiency appear 700 '"'at
am moi nrepared TO admit that he is wholly correct
thinking his table requires a larger reserve The 10
lowing win serve 70 1 ssU% that greater sSS GUD
bined Experience may sometmes reg n;ces soT an
serve than the National take hve Ponciee LOT ?"
each entered at different sges and give their net yalu
At four per cent by each OF four tables Of mo5l.'
a. he time when the sixteenth premium falls due.
81 sdd the values by Carlisle premiums when di
counted by Mr. Nelson's Life Annuities:
Az. Of hctaaries' Fan. Carhss Nelson Nelson a
sr1 Carlisle