REVERSION. 



REVERSION. 



. the executors of each one'who (lies within 20 years are to receive 

 .it the i-nd of the year of death. Money makes tliree )>er cent. 

 once a year. According to the table, then, there are 57, 57, 5(5, &c. 

 deaths in the successive years, and the following is the result, the pro- 

 per premium being calculated at III. 12. SJrf. each person, or more 

 exactly 11,614/. 1(5. for 1000 persons. It is supposed that there are 

 no expenses of management. By P is meant that premiums are paid, 

 and the number paid precedes the letter : by y, that a year's interest 

 is received, and by c, that claims, in number as stated, are paid ; small 

 letters denote a transaction at the end of a year, and the large letter 

 one at the beginning ; the age of the parties paying premiums is in 

 parentheses at the beginning. Fractions of pounds are neglected, II. 

 being written for everything above 10. 



Brought over 142431 

 y 4273 



58 e 



y 



61 e 



+ 

 <4ft) 5075 P 



y 



66 e 

 (41) 5009 P 



69 e 



1940 P 



(48) 4869 P 



71 r 

 i4h 4798 P 



71 < 

 (45) 47J7 1' 



: W7i i 

 58000 



88704 

 59354 



4451 



;-_ , 

 61000 



Ml I 



58946 



: ;' 

 4523 



IHS78 



66000 



: 

 58179 



4424 



: ,\ - 

 69000 



- --: 

 57878 



140259 

 4208 



144467 



Ml I 



-^-^WM _ 



) M? 



56553 



. ,.,,j 

 : 



: :' 

 71000 



^^ 



HM1 



65729 



Lit H 

 3560 



122210 

 71000 



- i i 



106114 

 3183 



10907 



700(10 



(46) 4657 P 



-. 

 M * 



MM? 



Brought over 93387 

 y 2801 



69 c 



96188 

 890 10 



- 27188 

 (47) 45SS P 532S8 . 



y 



67 c 

 (48) 4521 P 



80476 

 2414 



67000 



15890 



52510 



68400 



Brought over 



y 



63 c 

 (49) 4453 P 



01 c 



68400 

 2052 



70452 

 63000 



7452 

 51779 



59231 

 1777 



61008 

 61000 



At the outset the office receives 65,530?. from the 5642 persons 

 assured ; this is immediately invested at 3 per cent., and yields 1966?. 

 by the end of the year, making 67,496?. But at the end of the year 

 the claims of the executors of 57 persons who have died during the 

 year are to be satisfied, which requires a disbursement of 57,000?., 

 reducing the society's accumulation to 10,496?. The contributors who 

 are left, 5585 iu number, now pay their second premiums, 64,869?., so 

 that, these being immediately invested, the company has 75,365?. at 

 interest during the second year. This yields 2261?., so that by the end 

 of the year 77,626?. is accumulated. Then comes the demand of 

 57,000?. on behalf of 57 contributors deceased during the year, which 

 reduces the accumulation to 20,626?. This is more than it was at the 

 same time last year, which is denoted by + . Iu this way the company 

 goes on, accumulating to an amount which would lead a person 

 unacquainted with the subject to conclude that the premium must be 

 too large : in fact ten years give an accumulation of 91,809?. But 

 now the state of affairs begins to change ; the contributors have been 

 diminishing, while the claims have been increasing, until the yearly 

 incomings no longer equal the outgoings. The accumulations then 

 come in to make good the difference in such manner that by the time 

 the remaining contributors come to be 50 years of age, and the claims 

 of 61 who died in their fiftieth year have been satisfied, there only 

 remains 8?. of the 91,809?. ; and this 8?. is merely the error arising 

 from omitting shillings, &c., in the calculation. Something of the 

 same kind must take place in every office which dies a natural and a 

 nolveut death : the only difference being that, when new business 

 ceases, instead of a number of contributors all of the same age, 

 and under similar contracts, both ages and contracts vary con- 

 siderably. 



There are certain tables which are variously named (sometimes 

 after Mr. Barrett, the inventor; sometimes after Mr. Griffith 

 Daviei, the improver ; sometimes after D and N, letters of reference 

 uncd in them), but which we call commutation tables. They are de- 

 scribed in the ' Treatise on Annuities,' in the ' Library of Useful Know- 

 ledge,' and a copious collection is given : also iu an article in the ' Com- 

 panion to the Almanac' for 1840. They very much exceed in utility 

 those which preceded them ; and we shall here give part of one of 

 them, namely, that for the Carlisle Table, at 3 per cent., which con- 

 tains the materials for judging of the demands made by an insu- 

 rance company in cases involving one life only. Opposite to each 

 age of life are three rows of figures in columns marked D, N, and 

 M : and by u (x) we mean the number in column M opposite to the 

 age?. 



