TRANSACTIONS OF SOCIETY OF ACTUARIES 1959 VOL. 11 NO. 29AB

Transcription

1 TRANSACTIONS OF SOCIETY OF ACTUARIES 1959 VOL. 11 NO. 29AB These "Transactions" are published periodically by the Society of Actuaries, successor to the Actuarial Society of America and the American Institute of Actuaries, in lieu of "Transactions" and "The Record" heretofore published respectively by the two former organizations. NOTICE The Society is not responsible for statements made or opinions expressed in the articles, criticisms, and discussions published in these Transactions, CONTENTS OF VOLUME XI OFFICERS AND BOARD OF GOVERNORS PAGE ix PAPE.RS: 1958 Amendments to the Social Security Act. Robert J. Myers 1 Discussion A Theory of Mortality Classes. Louis Levinson Discussion On Computing the Probability That Exactly k of n Independent Events Will Occur. Robert P. White and T. N. E. Greville Discussion Insufficient Premiums. Paul W. Nowlin Discussion Group Annuity Ill-Health Terminations. Conrad M. Siegel 114 Discussion DIGEST OF I1NFORMAL DIScUSSION: U.S. Federal Taxation of Life Insurance Companies Higher Interest Earnings The Supply of Actuaries Informal Discussions DIGEST OF DISCUSSION OF SUBJECTS OF SPECIAL INTEREST: Ordinary Insurance and Annuities Guaranteed Insurability Riders Graded Premiums Recent Experience Miscellaneous Employee Benefit Plans Federal Welfare and Pension Plans Disclosure Act Group Insurance--Mortality and Morbidity Experience in Pensions and Retirement Plans Major Medical Expense Insurance Effects in Canada of Provincial Government Hospital Plans ILl

2 iv CONTENTS OF VOLUME XI PANEL DISCUSSION : The Changing Pattern of Life Insurance Investments in the United States DIaEST OF S~ALLXR COMPANY FORU~t--NEw YORX REGIONAX MEETING: Actuarial Staff Electronic Computers Expense Rates Agency Problems DIGEST OF SMALLER COMPANY FORUM---OMAHA REGIONAL MEETING: Agency Problems Family Policy Accident and Sickness Insurance Expense Rates Actuarial Staff LEGAL NOTES. B. M. Anderson BOOK REVIEWS AND NOTICES OBITUARY Sinclair Edward Allison Walter Bjorn Edmund Ernest Cammack Leigh Saunders Cruess Abraham Kenigson Donald Matheson Edward E. Rhodes Walter Harold Somerville Lawrence L. Stevens Thomas Freeman Tarbell MINUTES OF THE NEW YORK REGIONAL MEETING, MARC~ 19 AND 20, MINUTES OF THE OMAHA REGIONAL MEETING, APRIL 2 ANn 3, PAPERS : Interpolation Commutation Columns. Arthur W. Havens and Harry M. Samson Commutation Columns, Net Premiums and Reserves for Individual and Family Major Medical Expense Insurance. Charles N. Walker 347 Discussion Gross Premium Calculations and Profit Measurement for Nonparticipating Insurance. James C. H. Anderson Discussion

3 CONTENTS OF VOLUME XI v DIGEST OF IN]?OR~IAL DISCUSSION: The Double Indemnity Study CSO Table The Supply of Actuaries Graded Premium Policies DIGEST OF DISCUSSION OF SUBJECTS OF SPECIAL INTEREST: Ordinary Insurance and Annuities Premiums and Dividends Guaranteed Insurability Withdrawal Rates Underwriting Employee Benefit Plans Insurance Pensions Electronics (Atlanta Regional Meeting) General Specific Applications Individual Accident and Sickness Insurance (San Francisco Regional Meeting) Premium Factors Persistency Active Life Reserves Coverage at Older Ages PANEL DISCUSSION--ATLANTA I~EGIONAL MEETING Hospital and Medical Care Needs PANEL DISCUSSION--SAN FRANCISCO I~EGIONAL MEETING The Cost of Medical Care DIGEST OF SMALLER COMPANY FORum--ATLANTA REGIONAL MEETING Entry into New Fields Agency Problems Underwriting Actuarial Staff Actuarial Meetings DIGEST OF SMALLER COMPANY FORUM--SAN FRANCISCO ~EGIONAL MEET- ING Electronic Data Processing Group Insurance Agency Problems Miscellaneous

4 Vi CONTENTS OF VOLUME XI OBITUARY Thomas F. Branagan William L. Crawford Charles Bartholomew Cullinan Harry L. Guy Edward W. Marshall MINUTES OF TILE ATLANTA REGIONAL MEETING, JUNE 4 AND 5, Mlmlams Ol, T~E SAN FRANCISCO REGIONAL MEETING, JUNE 11 AND 12, A~DRESS OF rm~ PR.ESmENT, P~ARCE S~.Pn~ P~a,m~s: Gain and Loss Analysis for Pension Fund Valuations. William A. Dreher Discussion Continuance Functions. E. Paul Barnhart Discussion Economic Security in the Soviet Union. Robert J. Myers Discussion A New Table for Accidental Death Benefits. Norman Brodie and William J. November Discussion Some Observations on Ordinary Dividends. Robert T. Jackson 764 Discussion Misconceptions and Missing Perceptions of Our Social Security System (Actuarial Anesthesia). Ray M. Peterson Discussion The Risks in Equity Investment for Pension Funds. Dennis N. Wafters and William M. Rue Discussion DIGEST O~" DISCUSSION O~" SUBJECTS O~' SPECIAL INTEREST: Electronics Role of the Actuary in Electronic Data Processing Valuation Progress since Fall, Ordinary Insurance The Build and Blood Pressure Study Employee Benefit Plans Insurance Pension Plans Individual Accident and Sickness Insurance Changing Needs for A & S and Coverage on Older People. 1020

5 CONTENTS OF VOLUME XI vii Morbidity Statistics Dividend Scales and Graded Premiums Individual and Family Major Medical Insurance Changes as a Result of 1959 Federal Income Tax Law REPORT OF THE GENERAL COMMITTEE ON PUBLICATION OF MONETARY TABLES : Table of Uniform Seniority for Joint Life Calculations Based upon the 1958 CSO and CET Mortality Tables Female Extension of the 1958 CSO and CET Mortality Tables 1060 Supplement REPORTS ON THE STATUS OF DEVELOPMENTS OF PARTICULAR INTEREST TO MEMBERS OF THE SOCIETY: The Status of Variable Annuities and Related Developments The Status of the 1958 CSO Table Regulation of Minimum-Deposit PIarLs Tax Relief for Pensions for the Self-employed in Canada The Status of Welfare Plan Disclosure Acts PANEL DISCUSSION: Social Security LEGAL NOTES. B. M. Anderson FLNANCIAL REPORT BOOK REVIEWS A.XrD NOTICES OBrruARY Joseph C. Barnsley Charles W. Jackson Guy L. Stayman Toshikazu Suzuki MINUTES OF THE ANNUAL MEETING, NOVEMBER 9 TO 11, INDEX

6