n is not made in the office, but is made through the payment of claims andcontributions as they are received; the excess being invested and accumulated atinterest. If the premium were divided into mortality and reserve elements, thenunder a limited payment contract, when the contributions cease… … 224 payment policy or certificate. It has been shown that the net premium is computedwithout any reference to reserve accumulation, and it is only after the net premiumhas been determined that the reserve accumulation can be ascertained. The net pre-mium is in excess of the current cost of…
Life insurance · Fraternal organizations
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