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“House Purchase” Companies: The “Bond Investment” Sections of the 1909 Act and Some Actuarial Features of the Business Returned Thereunder
Published online by Cambridge University Press: 18 August 2016
Extract
In putting forward the present Paper I am somewhat dubious as to whether it is not almost necessary to apologise for bringing before the notice of the Institute a subject which forms but one of the many minor branches of our Science, and which, moreover, has had a certain amount of odium—much of which is undeserved—thrown upon it from time to time. So far, however, as the Institute is concerned, it is practically untrodden ground, and the consideration, therefore, of some of the new problems suggested by it may not be without interest.
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- Research Article
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- Copyright © Institute and Faculty of Actuaries 1913
References
page 192 note * The doubtful question of whether the contracts issued by House Purchase Companies are life business, within the meaning of the Act, is dealt with later.
page 196 note *
Yielding about 
per-cent per annum and representing 1s. per week.
page 198 note * Any bonuses guaranteed, or added to the certificate, are usually disregarded in fixing the amount to be advanced.
page 212 note * See also note on p. 233.
page 212 note †
Or for monthly premiums 
.
page 221 note * Exact rates on the above assumptions.
page 225 note (1*)
See p. 228 as to the introduction of the factor 
necessary for complete accuracy.
page 255 note * Indeed it appears very doubtful whether these sections were ever required at all, as the return of premiums in the event of death was a feature of most of the contracts issued by the now defunct companies, at which this part of the Act was mainly aimed.