^{page 413 note *} As regards policies payable on the birthday and not on the anniversary, the writer has given reasons (J.I.A., xxxiv, page 74, paragraph 28) for thinking that it is preferable to value the policies as though they matured on the anniversary, and thus to defer taking the profit due to the postponed payment until it has actually been realized. Similar arguments apply to valuing the additional premium, in (n + 1) premium cases, unless a special net premium be used.

^{page 415 note *} Mr. F. Bell has published specimens of valuation cards adapted to the Karup method. See J.I.A., xxxix, 39–46.