Of-
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LIBRARY
"^2
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UNIVERSITY OF CALIFORNIA.
^ GIFT OF
A
Received
ccessions l
3/^^ .Shelf A
-30
Mortality Experience
of the
Provident
hife & Trust Company
of
Ph ila de Ip h ia.
[UlTIVERSITYl
Prepared by
Asa S. Wing,
Vice-President and Actuary of the Company.
PiLblished by the Compciny,
1886.
THE
PROVIDENT
LIFE AND TRUST COMPANY
OF
PHILADELPHIA.
OFFICE:
No. 409 Chestnut Street,
Philadelphia, Pa.
SAMUEL R. SHIPLEY, President.
T. WISTAR BROWN, Vice-President.
ASA S. WING, Vice-President and Actuary.
JOSEPH ASHBROOK, Manager of Insurance Department.
J. ROBERTS FOULKE, Trust Officer.
DR. THOMAS WISTAR, Chief Medical E.Kami ncr.
JOS. B. TOWNSEND, SAMUEL DICKSON, Legal Advisers.
DIRECTORS.
Samuel R. .Shu'i.ev, Philacklphia. Iskaki. Morris, Philadclphi:!.
T. WisTAR Brown,
Henry Haines,
Richard Cadbuky,
Richard Wood,
William Hacker,
Chas. Hartshornk, "
William (Iummere, "
Frederic Collins, "
Murray Shipley, Cincinnati, Diiii
Asa S. Winc, Philadelphia.
J. Morton .Alberts; )N, Nonistown. Philii' C. Carkett, Philadelphia.
Justus C. Sikawbridcje, Philadelphia.
MORTALITY HXPERIENCH.
In 1879 t^^'s Company published, in connection with its
Fourteenth Annual Report, an exhibit of its mortality
experience to the close of 1S77. That exhibit showed
that the actual number of Policies terminated by death
had been but 64. {'^f/, of the number expected by the
American Table of Mortality, and that the actual amount
of the Policies so terminated was but 65 /^^f 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 iS 77 inclusive, submitted
to me tor my opinion, is a very remarkable and interest-
ing document. That in an aggregate exposure, in the
course of twelve years, of 46,539 years of life, between
the ages of 1 1 and 76 inclusive, there should have been
only 331 deaihs, when by the Table of lowest Mortality
in use for Life Insurance 51 1 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
chiefly among people of peculiarly good sanitary habits.
I am inclined to think both causes have operated."
4 Provident Life and Triist Company.
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 124,526 years of life
and an amount of $380,334,659 j°^"^ exposed to risk in
place of 46,539 years of life and $ 136,730,43 7, ^^ 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 x^merican
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.
The accompanying explanations should be read in con-
nection with the Tables and Charts submitted herewith.
Provident Life and Trust Company.
TABLE I.
In the observations made for this and other Tables no
account is taken of "Not Taken" Pohcies or those which
lapsed in the calendar year of issue. Every policy
(whether there be one or more upon the same life) issued
and remaining in force at the end of the calendar year of
issue is included in the exposures, and in the column of
deaths the number of Policies terminated thereby is given
without regard to the number of persons insured. These
remarks apply as well to Tables III, V, VII and VIII. But
in some of the other tables it will be noticed that observa-
tions are made upon lives rather than upon policies.
This table gives the probable and actual experience
for each calendar year from 1866 to 1885 both inclusive.
There were a few policies issued in the last half of 1865,
but as they were so few and as there were no deaths in
that year it was thought best to consider them as in force
at the becrinninjif of 1866, and no credit is taken in the
exposures for the time they were in force in 1865.
Provident Life and Trust Company
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Ratio of Actual to
I'robable.
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Probable Number to be
terminated by death by the
American Experience
Table.
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Provident Life and Trust Company.
TABLE II.
This table represents in Dollars what Table I shows in
Policies, and gives the gross expected loss as compared
with the amount of Insurance terminated by death. For
comparison, the result as thus arrived at is a fair one, but
it must not be assumed that there was a eain to the com-
pany of the difference between ^4,492,750, the probable
loss, and ^3,085,55 1, the actual loss; for, strictly speaking,
the amount exposed to risk is the face of the Policy less
the reserve or accumulation thereon, and the real loss in
case of death is the amount of the Policy less the reserve
on it. If the computation had been made on that basis
it would have shown a reduction in the probable and
actual losses, but their relation to each other would not
have differed materially from the ratio as shown in this
table.
No account is taken in the exposures or actual deaths
of reversionary additions. They are small in amount and
are accounted for in the Company's yearly computations
of its gains on Vitality, but were not considered of suffi-
cient importance to include in the present comparative
statement.
lO
Provident Life and Trust Company
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Providcul Life and I )ust Company.
TABLE III.
This table gives the experience for each age, showing
the number of Pohcies actually terminated by death and
the number expected to be terminated by the American
Experience Table. The total result is of course the same
as in Table I. The facts are graphically shown in Chart
A, where the probable or expected deaths appear in the
line at the outside limit of the blue color and the inside
limit of the red, and the actual deaths are represented
by the irregular lines bounding the buff, and the outside
limit of the red.
14
JYovidcnt Life and Trust Company
TABLE III.— {See Cluirl A)
COMPARISON OK 'lllE ACTUAL AND PROBABLE NUMBER
I'OLICIES TERMINATED BV DEATH. FOR EACH A(;i.
OF
riobuble Number to he
Age
Average
terniinaled by death
Actual
Age
at
Niinil>cr of Poli-
by the American Expe-
Nunii)er
at
Exposure.
cies Exposed.
rience Table.
terminated.
Exposure.
II
•5
.004
II
12
I.O
.C08
12
•3
2.0
•015
13
14
4.5
•034
14
15
16
1 1.0
.084
15
25-5
•195
2
16
17
43-a
■ZZ^
17
18
82.5
.637
]8
19
157-5
1.223
I
'9
20
317-5
2.478
2
20
21
5^1-5
4.568
5
21
22
936-5
7-<o4
9
22
23
1344-5
10.700
8
23
24
1781.0
iz;.268
II
24
25
26
2225.0
• 17-945
7
25
2727-5
22.175
9
26
27
3112.0
25.509
16
27
28
3499-0
28.916
15
28
29
3852.5
32.149
24
29
30
4119.0
34.711
16
30
•31
4400.5
37.448
22
31
32
4'J07-5
39-657
19
32
Zl
4793-5
41.791)
29
ZZ
34
4876.0
43.060
21
34.
35
4914.0
43-961
17
35
36
4911.0
44.636
36
36
37
48S2.0
45.C80
-0
0/
3«
4743-5
44.627
3 '
38
39
^637-5
44-455
27
39
40
41
4496.0
44.034
31
40
4310-5
43-139
39
41
42
4038.0
41-398
29
42
43
3800.5
39-970
28
43
44
3563-5
38-589
28
44
45
3396.5
37-915
29
45
{Continued on next piij;'
Provident Life and Trust Company.
15
TABLE \\\.—{Contuiued:
Probable Number to be
Age
Average
terminated by death
by the American Expe-
rience Table.
Actual
Age
at
Exposure.
Number of Poli-
cies Exposed.
Number
terminated.
at
Exposure. .
46
3156.5
36.495
2>Z
46
47
2995.0
35-940
21
47
48
2819.0 ■
35-263
10
48
49
2622.0
34.364
28
49
50
51
2410.5
33.219
30
50
2199.0
31.976
14
51
52
2035.0
31-317
19
52
53
1923.0
3T.408
29
53
54
1779-5
30-956
31
54
55
1620.0
30-085
22
55
56
1404.5
27.928
27
56
57
1261.0
26.903
15
57
5«
1 122.0
25.734
II
58
59
1004.0
24.819
14
59
60
861.5
22.996
12
60
61
733-5
21.183
13
61
62
646.5
20.230
8
62
63
5530
18.770
17
63
64
465.0
17.146
14
64
65
370.0
14.848
9
65
66
290.0
12.675
13
66
67
240.5
11-459
10
67
68
199.0
10.348
9
68
69
154-5
8.770
5
69
70
118.0
7-315
3
70
71
90-5
6.124
5
71
72
68.0
5-014
5
72
73
51-0
4.089
I
73
74
45 -o
3.916
2
74
75
33-5
3.161
7
75
76
18.0
1.842
I
76
77
15-0
1.666
2
77
78
II.O
1.329
78
79
8.5
I.I 20
79
80
4.0
■578
80
81
3-0
.476
81
82
2.0
.348
I
82
Total,
124,526.0
1464.923
975
Toial.
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Providcul Life and Trus/ Company. 1 9
TABLE IV.
This Table antl Chart B, show the corresponding facts
as to probable and actual amount of loss in dollars that
Fable III and Chart A show for the number of Policies.
20
Provident Life and Trust Company.
TABLE W.— (Sec Chart B.)
coMrARisoiN ()!• iiii'; .\( rr.\i. and i'Roi;a]!I.k amount termi-
NATKI) \\\ I)1;AT11. FUR EACH ACE.
\"C
Probiihle Amount to
\"L-
Avcrai;(j Ainoiip.l
be Icniiiiialcil by
Aiitial Aniuunl
ill
Exposure.
Exposed.
death by American
Experience Table.
lerminaled.
II
$500.00
$3-758
II
12
1,000.00
7.543
12
13
2,000.00
15-138
13
1-4
9,000.00
68.364
14
IS
29,500.00
225.203
460.878
15
16
60,159.00
$2,000
. 16
17
95,818.00
736.649
17
18
171,715-50
1,326.845
18
19
337,800.50
2,623.021
1,000
19
20
766,208.50
5,980.257
11,533-826
2,000
20
21
21
1,468,342.00
11.500
2 2
2,489,056.00
19,678.477
30,500 •
2 2
23
3,740,555-00
29,767.337
26,564
-0
24
5,158,270.00
41,322.901
38,000
24
25
6,465,397-50
52,143.431
64,043-734
16,500
25
26
7,877,458.00
34,000
26
27
9,016,183.50
73,905-656
57,000
27
28
10,224,900.50
84,498.576
46,450
28
29
11,319,048.00
94,457-455
67,995
29
30
12,214,991.00
102,935.729
39,525
70,161
30
31
31
13,018,046.50
110,783-575
32
13,692,640.50
117,852.557
65,573
0-
33
14,506,122.50
126,464.375
113,670
v?3
34
14,909,175-00
131,662,924
70,300
34
3.S
14,934,384.00
133,602.999
66,691
88,008
35
36
36
14,950,803.00
135,887.848
37
14,841,648.50
137,047-782
69,437
37
3«
14,484,742.00
136,272.452
102,012
38
39
14,215,676.00
136,271.469
76,243
39
40
13,745,609.00
134,624.494
96,519
40
41
13,163,724.50
131,742.554
81,1 10
4'
42
12,411,245-50
127,240.085
87,783
42
43
1 ',793,291-00
124.030.038
112,429
43
44
11,047,286.50
119,631.064
91,796
44
45
10,836.591.50
120,968.870
88,66s
45
Provident Life a)id Trust ConipiDiy
21
TABLE \W.— {Continued. \
Age
at
Fiohahle Amount to
A"i-
^Vvcrage Amount
lie terminated by
Aitual Amount
at
Exposure.
ExjjObecJ.
deatli by American
Experience Table.
Si 17,501.866
terminated.
$1 21,300
Exposure.
46
$10,162,763.00
46
47
9,694,821.00
I '6,337-852
49,303
47
4'S
9,1 19,21 1. 00
114,072.210
36,000
48
49
8,461,864.00
110,901.189
85,707
49
50
7,690,299.00
105,980.010
90,285
50
51
7,018,502.00
102,056.038
50,091
5'
52
6,618,427.00
101,850.972
59,885
52
53
6,357,090-00
103,830.351
99,930
53
54
5,798,261.50
100,866.556
110,978 •
• 54
55
56
5,281,717.00
98,086.766
90,839.581
62,128
55
56
4,568,246.50
65,833
57
3,965,561.00
84,605.244
65,750
57
5S
3,501,654-00
80,313-936
54,441
58
59
3,156,063.00
78,017.877
35,253
59
60
2,676,702.50
71,449-219
33,000
60
61
2,256,802.00
65,176.442
51,931
61
62
1,957,540.00
61,255.342
37,837
62
63
I 669,877.50
56,680.651
77,480
63
64
io75,577-oo
50,721.650
59,640
t 64
65
66
1,106,102.00
44,386.767
38,818.700
22,535
65
888,157.50
38,240
66
67
750,004 00
35,735-441
24,500
67
68
589,857.00
30,673-744
18,500
68
69
419,299-50
23,800.278
8,821
69
70
332,710.00
234,037-00
20,625.691
15,714.317
1 1,020
70
71
71
1 1,800
72
175,062.00
13,040.565
25,000 <
. 72
73
127,397.00
10,214.437
1,000
73
74
115,195-00
10,025.190
1,282
74
75
91,965.00
8,678.829
11,650.
75
76
50,915.00
5.209.165
2,000
76
77
45,915-00
5,099 504
6,000 ,
77
7'^
33,835-00
4,088.182
78
79
24,335-00
3,205.747
79
80
10,835.00
1,565.289
80
Si
5,835-00
925.460
81
82
3,335-oo
581.280
$4,492,750,202
3,000 <
$3,085,551
, 83
■rut;l!.
Total,
S38o.334/>59-oo
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Provident Life and Trust Company.
TABLES V and VI.
In the Charts A and B, casual observers will probably
be struck with the irregularity of the actual line of ckiath
loss as compared with the probable. Tables V and W
and Charts C and D are [)repared to smooth out those
irregularities and to show the experience in groups of
five ages instead of for each age. This gives an o])j)or-
tunity for an average, and on the Charts the actual line
presents a more regular appearance and falls within the
probable line in all but one unimportant group.
26
Provident Life and Trusl Company
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TABLE VII.
In this table the Policies are arranoed so that observa-
tions can be made upon them according to the length
of time they have been in force. It will be seen that in the
year of entrance the actual deaths are but Z^^-^'f of the
probable, and that there is a regular increase in this per-
centage until the third year, after which the ratios are
more even. The figures will probably be better appre-
ciated by reference to Chart E, where the red line repre-
sents the expected mortality and the black line the actual,
or perhaps it is still more plainly shown in Chart F where
the red line is madct to represent the basis of ioo7' by the
American Fable and the black line shows the percentage
which the actual deaths bear to it. Care should be taken
however in Chart F to compare it with Chart E, espec-
ially in the striking case of the 19th year, where Chart F
would seem to show that there was a very large excess
in the actual result over the expected, but a reference
to Table \\\ will show that it is only a difference of 3
policies, or a glance at Chart IC will discover the very
small space between the expected and actual. To those
familiar with such diagrams, this explanation is uncalled
for, but casual observers should bear in mind in this and
other charts that such irregularities are likely to occur
when there are too few observations ox exposures to
produce an average.
34
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42 Provident Life and Iriist Couipany.
TABLE VIII.
In all the preceding- tables the American Tal)le of
Mortality has been the basis for comparison, but in this
the Combined Experience Table is substituted. This
Mortality Table is used in many of the States as the
standard for valuation of policies, notably when the re-
serves are calculated with interest at 4'/ . it is designated
by the several names: Combined Experience, Old Actu-
aries', or I 7 British Offices Table. By a Comparison of
the expected deaths with the actual it will be seen that in
the youngest and oldest ages the ratio of actual deaths is
larger, than is shown in Table V by the American Table,
but that in the medium ages where most of the exposures
occur the ratio of actual deaths is smaller, and that in the
total result the actual deaths are but 61 ^\f/(, of the probable
deaths by the Combined Experience Table, instead of
66,\% as shown in Table V by the American Experience
Table.
Provident Life and Trust Company
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44 Provide III fj/c and Trusl Coinpiniy.
TABLE IX.
In this is presented a comparison of the actual amount
of Insurance terminated by death, with the probable
amount by the Combined Experience Table in (groups ot
five ages. If this table is compared with Table VI it will be
seen that by the Combined Experience Table the actual
loss was but 63/5 % of the probable, and that by the
American Experience Table it was 68/^ %. Tables Mil
and IX are illustrated by Chart G, which shows the per-
centages which the actual number and amount terminated
by death bear to the expected number and amount by the
Combined Experience Table.
This Chart is also interesting as showing how nearly
parallel the experience runs on the number of Policies,
and the amount of Insurance.
Providoil Life and Ti'itst Company
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NO
CN
>o
o
CN
r^
-t
O
<N|
HH
CN
NO
NO
ro
r-^
fl
>o
r^
-f-
CO
CO
NO
Cn
OC
X>
lO
PI
CN
o
M
-1-
NO
NO
r^
N
-r
Cn
M
o
fO
fO
CN
t^
NO
-t
■+
00
IT)
rt-
NO
_
O
00
CN
-t
CO
C)
M
1— t
•i-
r^
lO
U-)
U-)
o
o
NO
M
M
"•O
-t
^
—>
lO
)-^
U-)
CN
ri
-^
U-)
U-)
■«J-
o
r^
-1-
lO
irj
Cn
».
o
NO
O
O
CN
O
»-*
-t
—
ro
-^
NO
-t-
o
NO
NO
u->
N
00
'-'
-T
*C
r^
NO
NO
m
-f
"^
"
Tt-
m
o
O
o
o
o
O
O
O
o
O
O
o
o
O
o
-:i
o
m
lO
o
>o
to
O
O
in
O
lO
o
o
O
o
3
o
M
o
w
CO
CO
CN
CO
r-~
r^
CO
CO
NO
m
CN
5 ~i
o
O
INI
CO
NO
t^
ro
lO
CN
PI
Cs
PI
in
O
in
o
r^
NO
lO
PO
•i-
(-1
CN
CN
PI
CO
()
NO
O
NO
-f ^.
N
I-.
»
PI
o
00
<N|
CO
PO
oc
in
o
ro
in
-1-
-1-
r')
M
lO
NO
fO
<o
PI
r-~
NO
NO
CO
-+
1^
PO
to y.
'jO
■^
ro
o
o
(M
PI
^
O
CO
ro
CN
t^
—
PO
i-i
Cs
o
1-1
M
o
u-i
w
r^
CO
PI
o
Ave
H^
<o
1^
I^
lO
-f
rn
h-l
CO
po
■6^
U-)
O
u->
o
lO
n
lO
o
'n
o
in
o
m
PI
.^•
>-<
ri
ri
"■o
ro
-r
-f
lO
m
•o
NO
I—
1^
CO
'
u
o
O
O
o
o
o
o
o
O
o
o
o
O
o
c;
o
<■
*"*
* ■"
■^^
*^
'*-'
■*^
■*"*
'-'
*^
*^
■*"'
* ■'
*^
*-*
1-4
NO
M
NO
^
NO
I-I
o
M
NO
1-4
NO
iM
NO
'
"
^^
M
rl
rr:
T:
-1-
-1-
lO
in
o
NO
r^
I^
^i^ .
^^^-^^
.^<^>^
^
\Sv
H.'
/
■v
"\
•0
\
i
"? l\
S
\
/
O / /
■>^
/
s
/
s
^\\
^
^'
A\
,.
<
o\
^
iN
Ss
\
'^
^\
■^
^\
>;
■i:
1
:3
^
• **■
« /
01 y
r<:__
^--==>-^
<^
^
■V
Provident Life and Trust Company. 49
TABLE X.
As heretofore explained the preceding tables so far as
they relate to the mimbers at risk or members of deaths
represent policies, but the Tables which follow deal with
lives rather than policies. The usual methods have been
adopted for counting- but once in the same year of ex-
posure the same life, and the male and female lives have
been separated. This Table represents the Experience
of the Company on its male lives for each calendar year
and corresponds to Table I as to policies.
50
lYoiudoit Life and Tnisl Company
O Cri
X
w
w
w
J
'—>
m
y,
<;
h
UJ
VO
t~-.
CO
ON
o
PI
ri^
-+
lO,
o
rt
O
o
o
\o
l^»
t^
t^
r^
i^
1 -^
o
OO
CO
CO
CO
C/2
CO
CO
CO
CO
CO
CO
'<^
t— t
■^
,__,
2
5 aJ
CO
o
MD
o
_<
r^
o
„
to
O
o
■^■S
lO
CO'
>o
O
o
o
K)
I--
o
o
ro
-t
•^
vq
o
f~-
CO
LO
vq
^
lO
oOh
'Xj
ca
Pi .
;^
0)
J .
s -^
^1
-f
^
r^
po
CO
•+
PO
CO
r^
■CO
t~»
i-i
1— t
PI
r/^
P)
PO
PI
PO
"rt ^^
5 o
o
->
rj
ij
^ r^ (U
^_ 5 3
^ y r;
O
o
PO
o
o
o
-t
1-
PI
t^
o
•+
ro
PI
PI
''O
PI
m
I^
PI
*-H
^
fO
o
PO
PI
^
Cn
^
CO
t-^
o
= -< g
pi
CO
lO
I-'
1^
-f
d
CO
-+
c>
lO
•--
PI
PI
P'J
-t-
-i-
lO
lO
o
•^ ^ i
*-. D
^
o
zL
^•
c ^
■- o
IJ Q_
iri
q
lO
q
q
lO
lO
q
q
lO
q
"£ W
"■O
Cn
!_'
d
Cn
!_'
PO
"■o
'■h
d
PI
^
Cn
ri
r^
-f
>o
1^
CO
f-i
Cv
CO
-1-
X p
PI
CO
-+
q^
"?
-,_
l-~.
-t-
CN
*"?
'^
■i; -^
^
pr
PI
PO
r/^
-f
-+
lO
ir,
|"'J
O dj
<s
<5
u.
^
r^
CO
C\
o
PI
po
-t
lO
MD
rt
o
O
o
o
f^
r^
1^
i^
r^
1^
(•>*
u
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
'.--'
»— »
.
Provident Life and Trust Company.
51
r^ CO CN "- M fO 't >n _•
t^i^i^cocococococo ^
c-: CO CO CO CO CO CO CO CO
1 ■
R tio of Actual to
Proljable.
1^ CI PI CO CN "^ " fo -^
5
— -l-OCO — ~. -or^VO
1■u-)•-^u-)^oo i^r-~co cji
Probable Number of deaths
by the .\merican
Experience Table.
00 PI 10 C\ CO CO " >o
C\ r^ — ro -1- " ro ir> M
C^POO LOO r^PO-h
co' PO co' C^ -' -f 1-^
00 r^ t-^ CO CN — PI p'i
M
M
Average Number of
Male Live> Exposed.
lo U-) 10 q in 10 10 U-)
>n 0' — PO CO ro 1-^ in co'
CN " t- - CN p» '+ ic m CO
cc cs q 19 w o_ q -_^ in
inmoor^cocso— -f
-- -
rt
1
r^ CO cs •- ""I PO •+ in — '
t— i^ I ~ CO CO CO CO CO CO '^
cococococococococo z
Provident Life and Trust Company. 53
TABLE XI.
In this table is shown the experience for each calendar
year for female lives, corresponding to Table X for male
lives.
54
Providcnl Life and l^rust Company.
^ S
m
:2:; w
J c
^ ^1^
« M M
lO O
ir) I-.
CO
Provident Life and Trust Company.
55
t-~
CO
C\
o
M
fo
't
to
rt
t^
t^
r-
CO
CO
CO
CO
oc
00
«
ii
30
CO
oc
CO
CO
CO
CO
CO
oo
,o
K-
■^
"rt .
Z3 u
CO
M
-1-
i-~
_
ri
o
•1-
o
o
< "s
^
rg
^
1^
o
O
CD
r^
-t
o
o
O
iC
lO
o
CO
q
t
l^
CO
<_ "o
o 2
"
""■
"
o '-
rt
Si
V
"^ y
•^J
U-)
CO
^
ro
o
to
(-~.
ro
o
1^
r:
;j
^
tr.
rt
o
" ;^ **
^— ^ --^
- !- «
o
VD
-+
HH
to
to
Cs
lO
t^
o
— ^ (U
»^
r)
^H
o
to
<"0
to
-t
-t-
I--.
o
CO
C\
<^l
o
CI
t^
rt
q
• -
p -^ y
^
Tt-
-f
to
\j~>
o
o
t^
X
CO
s -. C
00
^ D
o ^ a-
'^ *> >s
rt- W
J
o
iH
Oh
<-«
O
J I
to
lO
q
to
q
lO
lO
q
q
ro
to
6s
q
Cs
5-: ^
•-^
o
CO
Cn
o
O
Cn
ro
CO
^
>^ <" 2
rf
rO
ro
ro
't
Tf
^
to
lO
00
— c
U « X
vr
•3 -^
-r^
1^
CO
CN
O
M
ro
-+
>o
rt
t--.
r^
t-^
CO
CO
CO
CO
CO
CO
"n
CC
CO
CO
CO
CO
CO
CO
CO
oo
r~
Provident Life and Trust Company. 57
TABLES XII and XIII.
These Tables give in detail, the actual and probable
deaths for male and female lives for each age. They are
the basis from which a Mortality Table representing the
Company's Experience has been prepared (see Table
XVI).
58
Proi'idciLi Lijc and Irust Company.
TABLE XII.
( ( iMl-AKlSOX OK Till-; ACIL'AI. AM) I'KnKAIU.l
MALE LIVES '\:VA<M\'^.\'\V.\) \\\ Itl-Alll. Ink
\iMi;i.i;
OK
A.iic
Avcra<;e Xuiiibci-
rnjlialile \uiiilicr of
ileatliN by tlie
Actual Nuiubei
Age
at
of Male Lives
of deaths.
al
Exposed.
Aineiicaii I'.xpeiieiice
II
Table.
Exposure.
I 1
•5
.004
I 3
I.
.008
I 2
13
2.
•015
'3
•4
3-5
.027
14
15
8.
.061
15
16
21.
.161
I
16
17
35-
.269
17
18
64.
■495
18
19
133-5
1.037
I
'9
20
21
278.
516.5
2.1 70
I
20
2 [
4-057
4
2 2
840.
6.641
8
T T
23
1210.5
9-633
6
^-Z
24
1609.5
12.894
10
24
25
26
2007.
16.186 .
4
25
26
2431-5
19.768
7
27
2749-
22.534
'5
27
28
3056.
25-255
1 1
28
29
3340.5
27.876
-4
29
30
3560.
30.000
15
30
31
31
3782.
32.185
20
32
3908.
33-636
'3
32
33
4026.
35-099
25
2)2>
34
4052.5
35-7«8
18
34
35
4062.
4047.
36.339
15
35
36
36-783
31
37
4009.
37.019
-7 ■>
37
3«
3^*9 1 -
36.607
27
38
39
379 '-5
36345
2 1
39
40
3668.5
35-929
24
40
41
3534.
35-368
19
4'
42
3320.
34-037
26
42
43
3124.
32-855
21
13
44
294«.5
31.92Q
24
44
45
2786.5
31.106
20
45
( Continued on next page.)
Provident Life and Trust Company
59
TABLE YA\.—[Conliimc;L)
Age
at
Average Nunilier
of Male Lives
I'lohalilu Xuiiiber of
(leatlis by the
Actual Number
of (leatlis.
Age
at
Kxposure.
Exposed.
American Experience
Table.
Exposure.
46
46
-580.5
29.836
24
47
2457-
29.484
17
47
4<S
23 '7-5
28.990
8
48
49
2163.
28.348
'-2>
49
50
51
1980.
i«23.5
27.286
23
1 1
50
51
26.516
52
1702.
26.192
17
52
53
1603.5
26.190
25
0.)
54
1492-5
25.964
24
54
55
56
1355-5
25-173
18
55
56
1187.
23.603
22
5 7
1072.5
22.882
14
57
5'^
955-5
21.915
7
58
59
>S44.5
20.876
12
59
60
61
720.5
621.
'9-232
17-934
10
60
II
61
62
'553-5
17.320
7
62
63
47T.5
16.004
15
63
64
39'''-5
14.694
13
64
65
312.
12.520
7
65
66
66
247-5
10.817
10
67
208.
9-911
9
67
68
172.5
8.970
9
68
69
134-
7.606
5
69
70
7'
100.5
6.230
_ 3
70
7'
78.
5-278
5
7-
59-5
4.387
4
72
73
43-5
3-488
1
73
74
3«-
3-3C7
2
74
75
27.
2.548
5
75
7^'
'3-
1-330
76
77
12.
1-333
I
7-
7«
9-
1.087
78
79
6.5
.856
79
80
5-
.722
80
81
3-
.476
8t
82
Tntal,
2.
•349.
1
^2
104,588.0
1,229.770
796
■r.it.ii.
6o
JVovidciil Life and Trust Company.
TABLE XIII.
roMl'ARISON OF TIIK ACTUAI, AND PR( )i;Al!r,K NUMl'.KR OF
FEMALE LIVES TKRMINATKl) i;\ Dl'.Alir. lOR KACII ACK
at
Exposui-e.
Averai^e Number
of Peinalc Lives
Expt^sed.
I'roliahlc Nunihei- of
deaths by the
Amerieaii Experience
Table.
.'\ctiial Nuinl)er
i)f deaths.
Age
at
Exposure.
13
14
15
16
17 .
18
19
20
I
2
5
5
5
.004
.01 1
.019
13
14
15
16
17
18
19
20
3
6
12
19
33
5
5
5
.027
.046
.097
•15^
.258
21
2 2
^-3
24
25
26
27
28
29
30
49
63
79
94
103
5
5
.385
.502
.629
•753
■S35
I
I
2
2
21
22
23
24
25
III
129
157
179
193
5
5
.902 •
1.062
1.297
1.494
1. 631
2
2
I
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
■i5
31
32
33
34
35
205
224
245
253
260
5
5
5
1-749
1.932
2.136
2.239
2.326
I
3
I
I
2
36
37
3^
39
40
255
259
253
252
252
5
5
2.322
2-3>2
2.380
2.416
2-473
3
I
2
5
41
42
43
44
45
232
223
215
215
212
5
2.322
2.286
2.266
2.328
2.366
2
I
I
5
( Continued on next page. )
Provident Life and Trust Company.
61
TABLE YA\\. — (Conli;iu,',>
'•)
Age
at
\ i\.T., , 1 «.. I'loliablc Number of
FxDosed American Experience ot iieatns.
■v- Table.
Age
at
Exposure.
Exposure.
46
197. 1 2.278 3
46
47
190
1 2.280 I
47
48
173
5 2.170
48
49
170
2.228 4
49
50
157
5
2.171 2
50
51
51
140
5 ,
2.043
52
120
5
1.854
52
53
113
5
1.854 I
53
54
98.
5
1-713 3
54
55
5^>
84
5
1569 I
55
56
76
5
1-521 3
57
71
1-515
57
5«
66
5
1-525 I
5«
59
61
1.508
59
60
61
54
5
1-455 ' 1
60
61
47
5
1.372
62
40
1.252 I
G2
63
35
1. 188 I
63
64
30
1 . 1 06 I
64
^'5
66
29
1. 164 t
65
23
5
1.027 2
66
67
16
.762
67
68
II
-572
68
69
TO
.568
69
70
71
7
5 ' -465
70
6
.406
71
72
3
.221
72
73
3
.240
73
74
3
.261
74
75
76
3
•5
-330
75
" 76
4
.409
I
77
3
•ZZl
I
77
78
2
.242
78
79
Total,
I
.132
79
Total.
6849.0
83.770
67
FrovideiU Life and Trust Company. 6
o
TABLES XIV and XV.
In order to smooth out the irreg-ularlties which natu-
rally occur in the experience for each age, tlie facts of
Tables XII and XIII are now grouped in clusters of five
ages each. These two tables are supplemented by Chart
H, from which may be seen the relative line of Mortality
for male and female lives as compared with the expected
deaths by the American Table. No importance should
be attached to the wide divergence of the actual and
probable lines at the ends of the chart, for the reason
'given in explanation of Table \'II and Chart F. The
divergerjce may be large in percentage but at the same
time small in fact, as it is here, and as is quite likely
to be the case where there are so few exposures. It is
interesting to note the fact that the mortality on female
lives is higher than on male lives. This is in accordance
with most observations on assured female lives, notwith-
standing that statistics show a higher death rate for men
than for women in the general population.
64
Provident Life and Trust Company.
tq c/5
^ O
^ <:
o>:
M O
D Cu,
pa ^
^ !^
o
oi
Q
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H
U
<:
w
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o
m
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to
N
■
M N
<N
fO
fO
Tl-
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lO
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r^
r~-
CO
, •
to
O O
o
o
o
o
o
o
o
o o
o
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n
<
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VO
^
VO
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vO
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VO n
so
M
VO
o
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U-5
lO o
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to
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m
to
to CO
o
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M
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to
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to
r-
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q
to '^
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c>
lO
rO
M*
lO
CO
d
oo CO
CO
Cs
so
o\
3 >^?
Tj-
N
1—
o
o
-1-
CO
O r^
-+
w
«
2^W
■^
"
•^
M
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«
— 5
M
^ u
cs 'C
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^ *:
Ck <
t:
t, UJ
(11 t/5
^ o
O lO
lO
q
lO
q
q
q
q
q to
to
o
to
q
lO w
fO
i-~
d
1^
CO
oo'
t^
d so
N
so
d
oo'
I-. ro
00
^0
fo
o
1-^
o
r~-
00 to
SO
'^
to
CO
<u o S
m
M
t-H
00
Tf
r-^
t
'^
t-» CO
CO
CS
to
M .S
VO
lO
Os
c>
lO
»1
rC
Tj- M
"i-
2 ►J
11
1-1
11
n
n
O
<u
^^
< 2
s
lo o
to
O
l-o
o
to
o
lO
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to
p)
w N
N
O
CO
'^
■<:f
liO
lO
SO so
r^
t^
CO
o
(U
<
° 2
o
o
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o
O
o
O
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O
o
o
M ^
H,
o
HH
o
„
vO
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VO ~
so
M
so
H
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CI
M
CO
CO
Tt-
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so
r^
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Provident Life and Trust Coinpany,
6=i
W
H
<
^
S
Cri
W
H
^
y*^
»«:«.
N
•v)
kj
> — »
S Si
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1%
^
O fe
1
ei t.
1
tJ o
>
^ 'Ti
X
«* Ch
::i 3
u
2 o
i-i
CQ
lo O
lO
li-i
O
to
lo O u-> o to
c<
11 N
N
ro ro
^
rr lo
to o o f^ i~-
00
*
so
<
o o
O
o o
O
° 2
o o c o o
o
a
,o
« vO
t^
vo "
VO
w O
1- vo - Vil "H
vo
^^
f<
N ro
ro
-r '^
to to o o t—
r^
"rt
< 1
O
T^
ro -
00
CO C\
ro to CO C\ O
M
o
i_ O rt
<^
CO r^
1— 1
r^ CN
to \o to CO
Cv
o
° "-o
CN
f^ r^
CN
l>. CO
to vo vo to
I^
CO
% ^
•^
-
a
f^
u
U
^
£ u-'
,== ^
V <— —
o o
V3
in CO
>-l
Cs O
to to •'^ f< O
N
2 Q
o
<
-C 1^
"% ^
O ,rt
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■* Cn
fO
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ro
Cn t^
Tl- -f -^ ON vo
o
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CO CO
CO
O r)
ro M CO 0\ to
IH
t^
3 ^ X
q lo
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ro fO
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up —
q to q ro '^
ll
r^
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00
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§ W
IT) U-)
q
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q
up q
to to to q up
q
q
crage N
of
le Lives
rf- ^
ON
d co"
rj
r^ co'
t-^ cfN «" 00 00
d
Cv
t^
CO
r^ CO
t^
Cs 00
to f^ CO vo —
rf
ro
t^ «
N
O. =<5
to ro >-
oo^
vo"
> «
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u
tlH
i/^ o
\n
O i^
lO o
to O to O to
N
X
fc- N
N
ro ro
■^
•* u^
to O O t-» r~
00
r:"
<;
o o
o
O O
O
o o
o o o o o
o
,o
w vo
I-I
vo «
SO
I-, o
« O - vo -
o
f^
M
r< ro
ro
-r -i-
to lO O vO r^
r^
I
Provident Life and Trust Company. 69
TABLE XVI.
This is a mortality table constructed on the usual plan
from the experience of the company on its male and female
lives as given in detail for each age in Tables XII and
XIII. As the company had so few exposures on lives
younger than 15 and older than 75, the percentages of
deaths for those ages were taken from the American Table
in making up the unadjusted table. The unadjusted table
was then graduated by the comparatively simple and
very satisfactory method given by Mr. Woolhouse in the
Journal of the Institute of Actuaries, Vol. 21, P. 45, etc.,
and the result obtained is set forth in this table.
70
Pi^ovidciit Life and Trust Company.
TABLE XVI.
MORTALITY TABLE, FOUNDED UPON THE EXPERIENCE OF THE
PROVIDENT LIFE AND TRUST COMPANY, FOR MALE
AND FEMALE LIVES.
Age.
Living.
Deaths.
dx
Age.
X.
/-r.
dx.
Ix
X.
lO
I 00000
579
.005790
10
II
99421
77^
.007825
II
12
98643
931
.009438
12
13
97712
1039
.010633
'3
14
96673
IIOI
.011389
14
15
95572
1119
.011708
15
16
16
94453
1091
•OII55I
17
93362
1017
.010893
17
18
92345
89S
.009724
18
19
9'447
566
.000189
19
20
90881
565
.006217
20
21
90316
554
.006131
21
22
88762
518
•005771
22
23
89244
503
.005636
23
24
88741
524
.005905
24
25
88217
454
.005146
25
26
26
^7763
412
.004694
27
87351
399
.004568
27
28
86952
400
.004600
28
29
86552
414
.004783
29
30
86138
418
.004853
30
31
31
85720
430
.005016
32
85290
421
.004936
32
33
84869
415
.004890
2>i
34
84454
437
•005174
34
35
84017
4^5
.005416
35
36
83562
469
.005613
36
37
8J093
493
•005933
37
38
82600
522
.006320
38
39
82078
5"
.006226
39
40
81567
534
.006547
40
41
81033
554
.006852
41
42
80479
564
.007008
42
43
79915
567
.007095
43
44
79348
610
.007688
44
45
78738
605
.007684
•007398
45
46
78133
578
46
47
77555
594
•007659
47
48
76961
625
.008 I 2 I
' 48
49
76336
606
•007939
49
50
75730
661
.008728
50
Provident Life a?id Trust Company.
71
TABLE XW I. —{Continued.)
Age.
Living.
Deaths.
dx
Age.
jr.
U.
dx.
Ix
X.
51
51
75069
790
.010524
52
74279
873
■OII753
52
53
7340b
927
.OI262S
53
54
72479
1039
•014335
54
55
71440
1064
.014894
55
56
56
70376
972
.013811
57
69404
889
.012809
57
5«
68515
9J6
.013661
58
59
67579
866
.012814
59
60
61
66713
65806
907
.013596
60
1 108
.016837
61
62
64698
1 142
.017651
62
63
63556
• 1742
.027409
63
64
61814
1795
.029039
64
65
66
60019
2003
•033373
65
58016
2167
•037352
66
67
55849
2178
.038998
67
68
53671
2090
.038941
68
69
515^1
2102
.040751
69
70
7«
49479
47323
2156
2102
•043574
70
.044418
71
72
45221
2267
.050132
72
73
42954
2846
.066257
73
74
40108
3099
.077266
74
75
76
37009
3299
.089140
75
33710
3598
.106734
76
77
30112
3689
.122509
77
7'S
26423
3369
•127503
78
79
23054
3105
.134684
79
80
81
19949
2959
.148328
80
16990
2681
•157799
81
82
14309
2421
.169194
82
«3
1 1 888
2272
.I91117
^Z
84
9616
2034
.211522
84
85
7582
1785
.235426
85
86
5797
1528
.263584
86
87
4269
1268
.297025
87
88
3001
1013
.337554
88
89
1988
769
,386821
89
90
91
1219
670
549
•450371
90
361
.538806
91
92
309
212
.686084
92
93
97
68
.701031
93
94
29
25
.862069
94
95
4
4
1. 000000
95
Provident Life ajid Triist Company. jt,
TABLE XVII.
In this table is given a comparative exhibit of the Ex-
pectation of Life by the Provident and other MortaHty
Tables. It will be seen from it that if the present rate of
mortality in The Provident Life and Trust Company is
continued, the expectation of life of its members is much
longer than by standard Mortality Tables.
74
Provident Life and Trust Co?npany.
TABLE XVII.
KXPI-:CTA'riON OF LIFK BV DIFFF.RENT MORTAIJTY T.\BLES.
a
00
■■J
C V
E V
ritish
es.
'Actuaries."
ritish
es. H. M.
'Actuaries."
t)
u
H
5y [A
V
1^
«E2
""o^t
"
lO
^=2
faai M
<
to
49-99
£:-oo
80^
6
<
10
52.20
48.80
48.72
48.36
50.29
48.82
II
51-50
47.97
48.08
49-32
47.68
49-54
48.04
II
12
50.90
47.12
47-45
48.64
47.01
48.73
47-27
12
1.3
5039
46.27
46.80
47-95
46.33
47.89
46.51
«3
M
49.92
45-43
46.16
47.26
45-64
47.03
45-75
14
15
i6
49-49
49.07
44.60
43-79
45.50
46.57
44.96
46.16
45-00
15
16
44.85
45.88
44.27
4529
44-27
17
48.64
4300
44.19
45-18
43.58
44-44
43-57
17
i8
4817
42.24
43 53
44.48
42.88
43-61
42.87
18
19
47.64
41.50
42.87
4378
42.19
42.82
42.17
19
20
21
46.93
46.22
40.7S
40.09
42.20
43-07
41.49
42.06
41.46
20
21
41.53
42.36
40.79
41.33
40.75
22
45-5'
39-43
40.85
41.65
40.09
40.60
40.04
22
2.3
44-77
38.78
40.17
40.93
39.39
39.88
39-31
23
2 +
44.02
38.15
39-49
40.21
38.68
39-15
38.59
24
25
43.28
37-53
38-81
39-49
37.98
38.41
37.86
25
26
42.50
36.92
38-12
38-77
37.27
37.66
37.14
26
27
41.70
36.31
37-43
38-04
36.56
36.91
36.41
27
28
40.88
35-71
36.73
37-31
35-86
30.16
35.69
28
29
40.07
35."
36.03
36.58
35.15
35-42
35.00
29
30
39.26
34.51
35-33
35-85
34-43
34.68
34-34
33-68
30
31
31
38.45
3.3.92
34.63
35-12
33.72
33.95
32
37-64
33-32
33-92
34-38
33-01
33.21
33-03
32
33
36.83
32.72
33-21
33-65
32.30
32.48
32.36
33
34
36.00
32.12
32.50
32.91
31-58
31-75
3.. 68
34
3'^
36
35-19
31-52
3178
31.07
32.17
30.87
31.02
31.00
35
3b
34.38
30.92
31-43
30.15
30.29
3032
37
33-57
30.32
30.35
30.70
29.44
29.56
29.64
37
3«
• 32-77
29.71
29.62
29.96
28.72
28.84
28.96
38
3'
31 97
29.10
28.90
29.22
28.00
28.12
28.28
39
40
41
31-17
28.49
27.87
28.18
28.48
27-75
27.28
26.56
27.40
27 61
40
41
30-37
27-45
2668
26.97
42
29.58
27.25
26.92
27.01
25.84
25.96
26.34
42
43
2878
26.62
26.00
26.28
25.12
25.23
2571
43
44
27.98
25.99
25.27
25-55
24.40
24-5'
25.09
44
45
46
27.20
25.36
24.54
24.82
24.09
23.69
23-79
23.08
24.46
23.82
45
46
26.40
24.71
23.81
2297
47
25.60
24.06
23.08
23-38
22.27
22.38
23-17
47
48
24.79
23.40
22.36
22.66
21.56
21.68
22.50
48
49
23-99
22.74
21.63
21.95
20.87
20.99
2I.8I
49
50
23-13
22.08
20.91
21.24
20.18
20.31
21. II
50
Provident Life and Tntst Company.
TABLE yj^\\.—{ Continued.)
75
!>
A
i
M.
ries."
£"
c
-il
■^^1
•S<2
^0
u .
51
0^
So
<
^0
^00
u
22.38
21 41
20 20
20.54
19.50
19-63
20.39
51
52
21 61
20.75
19.49
19.84
18.82
18.95
19.68
52
53
20.86
20.09
1879
19.15
18.16
18.28
18.97
53
54
20.12
»9-43
18.09
18.47
17.50
17.62
18.28
54
55
19.41
1S.78
18.13
1740
17.80
16.S6
16.96
16.32
17.58
55
56
18.69
16.72
17.13
16.22
16.89
56
57
17-95
17.49
16.05
1647
1559
15.68
16.21
57
5«
17.17
16.87
15-39
15-83
1497
15.05
15-55
58
59
16.40
16.25
14-74
i5-'9
14-37
14.44
14.92
59
bo
61
15.61
14.82
15.64
14.10
13-47
14.56
13-94
13-77
1383
14.34
60
1)T
1505
13-18
13.24
13.82
62
14.06
14-47
12.86
13-34
12.61
12.66
13-31
62
^l
m^
13.90
12 26
12.74
12.05
12.10
12.81
63
64
12 67
1334
11.67
12.16
11.51
11.55
1230
64
b5
12.03
12.80
11.10
11.60
11.04
10.97
10.46
II.OI
11.79
65
66
"•43
12.27
10.54
10.49
11.27
66
67
10.86
11-75
10.00
10.50
9.96
9.98
10.75
67
68
10.28
ir.25
9-47
9-97
9-47
9.48
10.23
68
69
9.67
10.76
8.97
9.46
9.00
8.98
9.70
69
70
71
9.06
10.29
8.48
8.00^
8-97
8.54
8.50
9.18
70
8.45
9.83
849
8.10
8.03
8.65
71
72
7.82
9-39
7-55
8.02
767
7.58
8.16
72
73
7.21
8.97
7.11
7.57
7.26
7-15
772
73
74
6.69
S.56
6.68
7.14
6.86
^.75
7.33
74
75
76
6.20
576
8.18
6.27
6.72
6.48
6.38
7.01
75
7.81
5.88
6.32
6.11
6.02
6.69
76
77
5-39
7-45
5-49
5-93
5-76
5.67
6.40
77
7«
507
7.12
5-"
5-57
5-42
5-34
6.12
78
79
4-74
6.80
4.74
5-21
5-09
5-03
5.80
79
80
4-39
6.49
4-39
4.87
4-55
4.78
4.72
5-51
80
81
4.08
6.20
4-05
4-48
443
5.21
82
3-75
5-93
3-7«
4.24
4.18
4-17
4-93
82
«3
3-41
5.67
3-39
3 95
393
3 93
4.65
83
84
299
5-42
308
367
3(^^
3.71
4.39
84
«5
86
2.79
2.50
518
2.77
3-40
3-3(>
3-51
4.12
85
4 95
2.47
3-14
3.10
3-31
3.90
86
»7
2.22
4-74
218
2.89
284
3.10
371
87
88
1.94
4.54
1.91
2.64
2-59
2.88
3 59
88
89
1.67
4-34
1.66
2-39
2-35
2.63
3-47
89
90
1.41
4.16
1.42
1. 19
2.17
1.98
2.11
2.36
3-28
3-26
90
91
91
i'5
3-98
1.89
208
92
.92
3-8i
.98
1.81
1.67
1.80
3-37
92
93
.84
3.65
.80
1.64
1-47
I. SO
3-48
93
94
.64
' 3-49
■64
1.49
1.28
1.20
3-53
94
95
.50
3 ..U
.50
Ij4
1. 12
•93
3 53
95
Provident Lije and Trust Company. 'j']
TABLE XVIII.
If in any Mortality Table the number dying at any age
is divided by the number living at that age the result gives
the percentage of death by that table for that age. It is
generally represented by the expression ^_^. Taking the
^? for each ao-e bv the American Table as shown in Table
XVIII for a standard, we have placed side by side the per-
centages which the probability of death (^^'■) by the Provi-
dent and other Mortality Tables bear to it. The result
is given in Chart J, in such a way as to show at a glance
the comparative rate of Mortality by the several tables.
78
Pi'ovidcnt Life and Trust Company,
TABLE^ XVIII.— (5f^ Chart J.)
PERCENTAGE OF MORTALITY {^\l) BY THE AMERICAN TABLE,
AND THE RATIO WHICH THE PERCENTAGES OF MOR-
TALITY BY OTHER TABLES BEAR TO IT.
dx
ix ^y
Ratic
of . to that of the American Table.
20 British
Age.
American
Table.
Provident,
1S66
to
30
American
Offices,
17 British
Offices,
Old "Ac-
Offices,
H. M.,
New "Ac-
Carlisle.
Age.
1885.
Meech.
tuaries."
tuaries."
25
.008065
.638
.872
•963
.822
.907
25
26
.008130
.577
.875
.970
.822
.906
26
27
.008197
•557
.877
.977
.S42
.948
27
28
.008264
•557
.880
•985
.868
1.052
28
29
.008345
•573
.885
.992
.896
1.178
29
30
.008427
•576
.888
1. 000
.916
1.199
3'^
31
.008510
•589
•893
i.ooS
•930
1. 199
31
32
.008607
•573
.898
1. 016
.942
1.(77
32
33
.008718
.562
•903
1.023
•950
'•153
Z2>
34
.008831
.586
.909
1.030
•963
1. 149
34
35
.008946
.605
.914
1.038
.981
i.m6
35
36
.009089
.618
•923
1.044
1.002
i.i6t
36
37
.009234
•643
•930
1.049
1.025
1. 176
37
38
.009408
.672
•938
1.05 1
1.040
..187
38
39
.009586
.649
•947
1.057
1.052
1.239
39
40
.009794
.668
•956
1.058
1.052
1.328
40
41
.010008
.685
.964
1.060
1.048
1^376
41
42
.010232
.684
•975
1.063
1.047
1.402
42
43
.010517
•675
•984
1.070
1.058
1.387
43
44
.010829
.710
•994
1.080
1.067
1^367
44
45
.01 1163
.688
1.004
1.094
1.092
1.327
45
46
.01 1562
.640
1. 01 1
I.I 10
1. 119
1. 281
46
47
.01 2000
.638
1. 019
1. 126
1. 142
1.217
47
48
.012509
.649
1.024
1. 140
1. 154
1.114
48
49
.013106
.606
1.027
1.149
1. 161
1.044
49
50
.013781
•633
1.028
1-157
'••57
•974
50
Provident Life and Trust Company.
79
TABLE yiVlW.- {Continued.)
Ralie
J of . lo that of the American Table.
American
20 British
Age.
Provident,
1866
30
American
17 British
Offices,
Offices,
H. M.
Carlisle.
Age.
Table.
to
Offices,
Old "Ac-
New "Ac-
1885.
Meech.
tuaries."
tuaries."
5^
.014541
.724
1.028
1. 162
1. 146
•983
51
52
.015389
.764
1.028
1. 166
1. 1 40
.988
52
53
•016333
•773
1.026
1. 1 69
^•139
.989
53
54
.017396
.824
1.022
1. 168
^•134
.971
54
55
.018571
,802
1. 019
1. 167
^■^Zl
•965
55
56
.019885
•695
1. 014
1. 163
1. 129
•955
56
57
•021335
,600
1 .01 1
^•157
1. 124
•979
57
58
.022936
•596
1.005
1. 150
1. 117
••055
58
59
.024720
.518
•999
^•143
1.114
1. 144
59
60
.026693
•509
•994
1. 136
I.l 12
'•255
60
61
.028880
.583
.988
I.I 29
1. 109
1.239
61
62
.031292
.564
.981
1. 122
1. 107
^•i95
62
^Z
•033943
.807
•975
1. 115
1. 104
1,127
63
64
.036873
,788
.969
1. 107
1.098
1.079
64
65
.040129
.832
•963
1.099
1.082
1.024
65
66
•043707
•855
•956
1.C89
1.065
.972
66
67
.047647
.818
•950
1.080
1.047
•932
67
68
.052002
•749
•943
1.070
1 .024
•893
68
69
.056762
.718
•938
'•059
l.OIO
.S65
69
70
.061993
•703
•932
1,047
1.003
.833
70
71
.067665
.656
.928
1.037
1.006
,870
71
72
•073733
,680
•925
1.028
I.0I6
.924
72
73
.080178
.826
•925
1. 021
^•033
•974
73
74
.0S7028
.888
.927
1. 017
1.048
1.036
74
75
.094371
•945
•930
1.013
1.042
1.012
75
Provident Life and Trust Company. 83
We give below, for comparison, the result of some
of the observations made by other companies as well as
Ratio of Actual
to Probable Loss by
the Combined Ex.
or OU Actuaries-'
Table.
our own :
Mutual Life of N. Y. 1843-
-1873-
Ratio of Actual
10 Probable Loss
by the
American Table.
/
On Lives,
f
•799
C©«necticut) Mutual. 1 846-1
878.
On Policies,
.856
On Amount,
.879
On Lives,
.853
On Male Lives,
.846-
On Female Lives,
-945
Mutual Benefit. 1845-1879.
On Lives,
.848
On Amount-
.S94
-778
Michigan Mutual. 1867-1881.
On Policies and Lives, .765 .709
John Hancock, 1863-1883.
On Lives, .732
On Female Lives, .823
On Amount, .843
Penn Mutual. 18 74-1 885.
On Amount, .785
Provident Life and Trust Company. 1 866-1 885.
On Lives,
On Male Lives,
On Female Lives,
On Policies, .666 .619
On Amount ^,m,^ '"— -^j^w -^87 .637
84 Provident Life and Trust Company.
It is not likely that any one cause can be assigned
which will fully account for the unusually low rate of
mortality shown by the experience of The Provident
Like and Trust Company of Philadelphia.
There must however be some satisfactory explanation
for facts borne out so uniformly year after year.
In the early history of the Company it was supposed
that so laroi'e a number of insurances upon members of
the Society of Friends would have a favorable effect
upon the average vitality of the Company, on account
of their well known reputation for longevity; but as the
Company has increased in membership the proportion
of Friends among the insured has become small, and
the experience of the Company has shown no corres-
pondingly increasing rate of mortality; so that while the
insurances upon the lives of Friends may have con-
tributed somewhat toward the favorable result attained,
we cannot consider it as an important factor.
The large proportion of new insurances written by
this Company each year, as compared with the amount
already in force, would naturally have a favorable effect
upon the mortality experience ; for all companies of
good standing will show a rate of mortality much below
any standard general expectation, during the first three
or four years of the existence of the policies; but that
this fact does not give a satisfactory explanation lor the
exceptionally low death rate in the Provident is shown
by throwing out of this Company's experience the years
of exposure o, i and 2 (see Table VII), that is those
especially favored by recent medical examinations, and
the remaining years will still show a death rate of only
75 \o'/^ o^ die American Table, which is below the rate
Provident Life and Trust Company, 85
that other companies (which have published statistics of
their mortahty) show for their whole experience, inckid-
ing the most favorable years of exposure.
After a careful observation of the tables presented
herewith, we are of opinion that the three principal
causes which have contributed to such a favorable ex-
perience in this Company, are those which have been
alluded to several times in our Annual Reports in com-
menting upon the continued exemption of the Company
from a high rate of mortality :
First: The character of the agents who secure the
business, anci their conscientious devotion to the best
interests of the Company whose reputation they have
done so much to establish.
Second : The ability and care of our medical exami-
ners, and especially of the Chief Medical Examiner, who
passes upon all cases before they are accepted by the
Company.
Third: The limitation of our business to the more
healthful sections of the country.
V' f
I.'
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Ha. 8785
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