ACSC 533 Study Guide - Final Guide: Edward Rowe Mores, Life Insurance, Mathematical Finance
31 Mar 2018
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Wanted to develop a new, more equitable, form of life insurance after being rejected by "old. Amicable", a dividing society, because they took no one over the age of 45. The amicable society was founded in london in july 1706 with 2000 members. First plan of life insurance: each member paid a fixed annual payment per share (they could have. At the end of the year a portion of the "amicable contribution" was divided among the wives and children of deceased members and it was in proportion to the amount of shares the shares owned. If you get too old, you get kicked out. You can maximize your potential payout by buying more shares as you get older. 1756 - dodson showed how a permanent life insurance place should be set up, how premium rates should be calculated, and how reserves would build up. James dodson and thomas simpson tried to establish a new assurance society.
