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The Net Single Premium (Continued)
By Bruce D. Mudgett. The premiums computed thus far relate to contracts which embody only two kinds of risks, the risk of death and the risk of survival. These two types are sometimes referred to as insurance and endowments, since insurance as such is generally needed against premature death while endowments have the character of investments accumulated for the future. Every life-insurance contract covers one or both of these features, viz, protection against death or accumulation in case of survival. Sections in Chapter 14. |
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