Volume 1

Observations on reversionary payments; on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the national debt. Also, essays on different subjects in the doctrine of life-annuities and political arithmetic ... / by Richard Price. The whole new arranged, and enlarged ... by William Morgan.

  • Price, Richard, 1723-1791.
Date:
1812
Catalogue details

Licence: Public Domain Mark

Credit: Observations on reversionary payments; on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the national debt. Also, essays on different subjects in the doctrine of life-annuities and political arithmetic ... / by Richard Price. The whole new arranged, and enlarged ... by William Morgan. Source: Wellcome Collection.

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    as the lives become more advanced, till in old age they are reduced almost to an equa- lity —Should any Society, therefore, in the - first years of its existence, presuming on the higher probabilities of life among its mem- bers, be led to reduce its premiums or in an undue degree to divide its profits ; exclusive . of the folly of adopting any such measures in this early period, it will, by raising false hopes and alienating that part of its capital which ought to have been suffered to accu« mulate for many years, be laying the foun- dation of future disappointment and ruin. The motives which lead to the establish- ment of these companies arising generally from private interest rather than from any desire of benefiting the public, the hope of increasing the present value of their property will always be in danger of inciting them to a premature division of their capital; especially when encouraged by this fallacious appear- ance of success during the earlier part of their existence—When Dr. Price first wrote on the subject of Life-assurances, it was in | general so little understood, that the appli- cation of the Equitable Society about that time for a Charter, was rejected by our Law- officers, on the ground that their premiums were insufficient, although they were nearly | twice