Encyclopaedia Britannica > Volume 3, Anatomy-Astronomy

ANNUITIES.
226
History, ral of the industrious classes are in prosperous, or at least
in comfortable circumstances. When that is not the case,
as for some years previous to 1830 there is reason to ap¬
prehend it was not in this country, there will be a corre¬
sponding increase in the general mortality, which will not
sensibly affect the general mass of persons on whose lives
annuities and reversions or assurances depend.
In many cases of insurance, the managers who choose
the lives know very little more about them than is stated
by themselves or the medical attendants they refer to,
and frequently they depend much on the reports of their
agents in the country; but where they are in daily ha¬
bits of intercourse with most of the persons whose lives
they insure, or else in habits of intimacy with some who History
are so, they have the means of making a much better se-'^-^vx
lection. That is stated to be the case with one of the
London offices, and in which, accordingly, there is said to
have been observed a remarkably small mortality.
For the reasons assigned above, it appears, that al¬
though lives carefully selected, with the advantage of the
necessary facilities, and unmixed with others, may be con¬
siderably better than the general average, those on which
annuities and assurances are granted are not, on the ave¬
rage, likely to be much better.
This part of the subject is also adverted to at the end
of the article on the Law of Mortality.
The two following Tables, A and B, show the number of Years’ Purchase Annuities on Lives of different ages are
worth in present money, according to More Correct Tables of Mortality.
TABLE A.
Without distinction of Sex.
RATE OF INTEREST FOUR PER CENT. PER ANNUM.
Column
Description
of
Lives.
Observations began...
Ended
Years’ duration
Greatest number of j
lives J
Mean number
Number of deaths...
Table of Mortality!
published in J
Constructed by
Age.
10
15
20
25
30
35
40
45
50
55
60
65
70
75
a
Nominees in
the French
Tontines.
1690
1742
50
9260 +
5293=!=
7933 +
1746.
Deparcieux,
19-008
18-502
17-938
17-420
16-810
16-084
15-133
13-904
12-526
11-173
9-713
8-039
6-394
4-945
Population of
Carlisle and
1779
1787
9
10,517 +
8177
1840
1815.
Milne.
19-585
18-956
18-363
17-645
16-852
16-041
15-074
14-104
12-869
11-300
9-663
8-307
6-709
5-239
Equitable
Assurance
Society.
1770
1800
30
6344 +
2522 =b
1220=+=
1827.
Davies.
19-647
18-944
18-242
17-494
16-701
15-867
14-939
13-845
12-599
11-349
10-052
8-635
7-167
5-670
/
Nominees in English Tontines.
Selected by
Contributors.
1789
1826
37
3518
2860=!=
1315
Chosen
by Lot.
1789
1826
37
4831
3920=+=
1823
The two last
together.
1789
1826
37
8349
6780:
3138
1829.
Finlaison.
19-167
18-475
18-011
17-526
16-889
16-098
15-195
14-061
12-671
19-068
18-422
17-946
17-530
16-925
16-099
15-124
13-985
12-528
The numbers for
the two classes sepa¬
rately were deemed
insufficient at these
ages.
19-118
18-448
17-979
17-528
16-907
16-099
15-160
14-023
12-599
11-163
9-772
8-308
6-729
5-122
Various
combined
1773
1826
53
18,798
15,459:
6,679
19-242
18-532
17-954
17-534
16-995
16-314
15-516
14-533
13-295
11-915
10-491
8-896
7-316
5-837
h
Population of
Sweden and
Finland.
1755
1776
21
4,051,116
2,310,160
1,401,989
1783.
Price.
18-891
18-336
17-603
16-839
16-006
15-138
14-034
12-959
11-658
10-320
8-789
7-328
5-783
4-534
First
English
Tontine.
1693
1783
90
1002
501:
1002
1829.
Finlaison.
17-128
16-207
15-349
14-976
14-624
14-023
13-193
12-199
11-183
10-141
8-836
7-342
5-823
4-456