Publisher's Synopsis
Excerpt from Mortality Experience of the Provident Life Trust Company of Philadelphia: 1866 to 1885
In 1879 this Company published, in connection with its Fourteenth Annual Report, an exhibit Of its mortality experience to the close of 1877. That etbit showed that the actual number of Policies terminated by death had been but of the number expected by the American Table Of Mortality, and that the actual amount of the Policies so terminated was but of the probable amount by the same table. NO such favorable Mortality experience has been published of any other Life Insurance Company in this Country. The late Elizur Wright said Of it: The mortuary experience Of your Company, from 1866 to 1877 inclusive, submitted to me for my Opinion, is a very remarkable and interest ing document. That in an aggregate exposure, in the course of twelve years, Of years Of life, between the ages Of 11 and 76 inclusive, there should have been only 331 deaths, when by the Table of lowest Mortality in use for Life Insurance 511 deaths were to be expected, is not perhaps wholly unprecedented but very uncommon. It indicates that either the selection Of lives has been careful and judicious, or that the business has been sought chie?y among people of peculiarly good sanitary habits. Iam inclined to think both causes have Operated.
The limited space of twelve years through which that experience ran, and the comparatively small number Of lives exposed, were the only factors in that exhibit which could take from its value as a safe comparison of the mortality experience Of The Provident Life and Trust Company of Philadelphia with the published tables Of mortality and with the experience Of other Companies. The officers Of the Company now present to its Policy holders an exhibit scarcely less favorable, with these possibly doubtful factors eliminated, showing the mor tality experience of the Company to the close Of 1885. It covers a period Of 20 years, with years Of life and an amount of 8063465970000 exposed to risk in place of years of life and as shown in the former exhibit'. This experience covers a longer period and a larger number Of exposures to risk than the experience upon which the American Experience Table Of Mortality was constructed by Shep pard Homans in 1858. That these Observations were sufficiently numerous and that the American Table is a fair exhibit of the general mortality Of assured lives in this Country, is confirmed by the mortality experience Of 30 American Companies collected by L. W. Meech and published in 1881. A comparison Of the near rela tion these two mortality tables bear to each other for each age is given in Table XVIII and more strikingly illustrated in Chart J.
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