The following remarks refer to the determination of Non-Profit Whole Life Assurance and Endowment Assurance office premiums; many of the principles raised apply to the premiums for other types of policies.

The office premium depends on the rates of mortality, interest, expense and loading for profit used in its calculation; we shall be concerned mainly to determine what values to give these factors, and the values chosen will form our premium bases. There is no reason to assume that we should give the factors the same values for all policies; for instance we might be justified in taking a lower rate of expense for policies of large sum assured than for policies of small sum assured.