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An Investigation Into the Withdrawal Experience of Ordinary Life Business

  • J. G. R. Crombie (a1), K. G. Forman (a1), P. R. Gibbens (a1), D. C. Mason (a1), M. D. Paterson (a1), P. C. Shaw (a1), J. M. G. Smart (a1), H. Smith (a1), C. G. Thomson (a1) and R. G. Thomson (a1)...


The paper is an investigation into the withdrawal rates of seven Scottish Offices and covers the years 1972-76 with an appendix giving the results for 1977.

The rates were basically analysed by class and duration with further investigations mainly on the 1976 data by age at entry, sex, size of sum assured, premium paying term, premium payment frequency and by type of agent introducing the business. Comparisons were made of the level of withdrawal rates among the various Offices and also the variations from year to year separately. A graduation of the combined data for 1975 and 1976 for each of the five main classes was carried out.



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1.Some aspects of withdrawals in ordinary life business. Patrick, F. D. and Scobbie, A., 1969. T.F.A., 31, p. 53.
2.Lapse rates. Richardson, C. R. B. and Hartwell, J. M., 1951. T.S.A., 3, p. 338.
3.First year lapse and default rates. Buck, Norman F., 1961. T.S.A., 12, p. 258.


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