Titlebook: Risk Classification in Life Insurance; J. David Cummins,Barry D. Smith,Jack L. VanDerhei Book 1983 Springer Science+Business Media New Yor

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Summary and Conclusions for Part IIIied the risk classification models currently in use. Current procedures used to determine the numerical value of debits and credits for applicants have not progressed since the early part of this century. With the increased availability of electronic computational devices, it is now possible to impl

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Summary and Conclusions for Part IIIroup and the standard-issue group. This method is an improvement because it will account for the influence of any significant risk factor; the conventional method only controls for the effects of age and duration since the time of issue.

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The Theory of Insurance Pricing: Loss Distributions and Expected Valueithdraw their demand deposits. The contingent events specified in insurance contracts, however, are neither certain nor unthinkable, yet, at least in the aggregate, have a predictable degree of occurrence.

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Gudgeon

Comparison of Logistic Model Results with Other Dataions. Underwriting manuals are used in the life insurance industry to supply the information necessary to rate most of the common impairments. However, no definite rating is given for certain impairments that, due to their complexity, are still treated as the exclusive domain of the company’s medical department.

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