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Elementary generalizations upon Lidstone's approximation for two joint lives
Published online by Cambridge University Press: 18 August 2016
Extract
Lidstone's formula for approximating to the premium for a joint-life endowment assurance is
It has been found empirically that the greater the disparity in age the less accurate is the approximation. There is no such progressive loss of accuracy as the period of assurance lengthens.
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- Copyright © Institute and Faculty of Actuaries 1950
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