LET EX be the exposed to risk at age x; F (x, 0) be the ordinate at x of a frequency curve used instead of Ex : the frequency curve is not necessarily a graduation of Ex. but may be and in some circumstances will be;

The so-called Family Income Benefit introduced, or reintroduced, into this country some four years ago has received an astonishing welcome from the public. Its rapid popularity as an addition to the ordinary whole life or endowment assurance policies has a parallel only in the disablement income benefit granted by the American and Canadian Offices in North America. Although there is no reason to anticipate that the history of this supplementary benefit will follow the unfortunate course of the disablement benefit in America, an early examination of the problems connected with it is most desirable, for the policies are not without their pitfalls and limitations.

During recent years the normal machinery for making international payments has suffered progressive dislocation, amounting in some cases to complete breakdown. This failure of foreign exchange markets to function properly affects insurance business in so many ways that it is fitting that this Institute should give some consideration to the problems that have arisen and to the efforts that have so far been made to solve them.

The size of the population of this country is a question of considerable interest and importance. Attention has been drawn to it in recent years owing to the continued fall in the birth-rate, and it has formed the topic of innumerable articles in the popular press and elsewhere. The subject of population growth is one on which the actuary should be most qualified to judge and yet it is seldom discussed by actuaries as a whole. The reason probably is that to some extent it is cut and dried; the past history of the size and structure of the population is recorded and analysed in official publications and calls for little argument, while future estimates where they cannot be made by fairly straightforward methods are largely a matter of guesswork. The problem of the rate of population growth has been investigated from a theoretical view very fully by certain foreign writers. The purpose of this paper is to give a description of one aspect of the subject and to illustrate it by calculations based on the statistics of this country.

Those who have not had the advantage of any practical experience of reversionary business usually find this subject difficult, especially in regard to the treatment of the special contingencies which occur and the assessment of the premiums on the policies to cover these risks.