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Updated: June 17, 2025
He fills out the blank, in which his age and all the other required information is given; then the insurance company's doctor examines him and he is accepted as what is called "a good risk." Now, from its actuary tables, the company knows, with reasonable accuracy, the number of years this young man should live, barring accidents. Already they have their tables of calculations for such cases.
But, though most business risks are not and cannot be a matter for premiums and policies, the principle, which the practice of insurance illustrates, applies none the less. In the light of their knowledge and experience, the promoters of a new undertaking must weigh up the chances of failure and success, though they will not do so by the precise methods of an actuary.
Morgan, the Government actuary, had stated before a parliamentary committee, that though the circumstances of the middle classes had improved, their "expectation of life" had not lengthened. This being diametrically opposed to our student's idea, he endeavoured to demonstrate the fallacy of the actuary's opinion.
Meltham, the young actuary of the "Inestimable." 'Just so, he returned in a consoling way. 'He is a great loss. He was at once the most profound, the most original, and the most energetic man I have ever known connected with Life Assurance.
There is a tariff of its honors, and any Belgravian actuary can calculate to a nicety the price of a stare from a great lady, or a card from a leader of fashion. This is the philosophy expounded by the amphibious dandy to his civic pupil. The upshot is, that she must give an entertainment, or a series of entertainments, on a scale of great splendor.
He had a genius for mathematics a gift which crops up, like music, in the most unexpected corners and from plough-boy and herd he had become an actuary in Auld Reekie. Wilson had no need to be afraid, the meagre fool, for his host could have bought him and sold him.
An insurance actuary could take the Indian census tables and the government's snake tables and tell you within sixpence how much it would be worth to insure a man against death by snake-bite there. If I had a dollar for every person killed per year in India, I would rather have it than any other property, as it is the only property in the world not subject to shrinkage.
In all the new Professions, chemistry, physics, biology, zoology, geology, botany, and the other branches of science, engineering, mining, surveying, assying, architecture, actuary work everything long a apprenticeship was needed with special studies in costly colleges.
A gentleman of the highest character as an actuary spoke of the plan in the following terms: "If a thousand bankers' clerks were to club together to indemnify their securities, by the payment of one pound a year each, and if each had given security for 500l., it is obvious that two in each year might become defaulters to that amount, four to half the amount, and so on, without rendering the guarantee fund insolvent.
Like some unfortunate lover, harshly dealt with by her he adored, yet resolved to bear it with dignified silence, I leave la Politica, such as SHE IS, and proceed to something else. At nine in the evening of that same unlucky Friday, the actuary consigned me to the jailer, who conducted me to my appointed residence.
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