Református ujság - Fraternity-Testvériség, 1940 (18. évfolyam, 1-12. szám)

1940-05-01 / 5. szám

TESTVÉRISÉG

;7

VALUATION LIABILITIES:

ASSETS—Actual and Contingent

(Excluding assets of expense and special funds) Assets available for payment of death losses determined as follows: Admitted Assets, item 38, page 4 of annual statement (including loan and interest thereon secured by reserves or accumulations actually maintained on the corresponding individual certificates) $1,248,676.15, less sum of t general or expense funds $5,585.57, f sick and accident funds when not valued $6,280.83, and t special funds (include all funds other than general or expense funds not available for payment of benefits)

$20,758.83 .................................................. $1,216,050.92

Assets—Actual and Contingent—sum of items 35 and 36, above .........................................$1,216,050.92

LIABILITIES—Actual and Contingent

(Excluding liabilities of expense and special funds) Present Mid-Year Value of promised benefits, or Net Tabular Mid-Year Values, on following forms of certificates:

Adult Death only ....................$1,065,957.00

Juvenile .................................... 26,425.00

Total ........................................................ $1,092,382.00

Deduct- liens and interest thereon, not included in Admitted Assets, and not in excess of required reserves on the corresponding individual certificates valued according to Section 23-a method — Basis other than Accumulation.

Balance, item 46, less item 47, above .... $1,092,382.00

Liabilities of mortuary of benefit funds determined as follows: Total Liabilities, except reserve, page 5 of annual statement $32,371.17 less sum of liabilities of general or expense fund, page 5 of annual statement, not in excess of balance in corresponding funds (item 36, above) $3,479.52; liabilities of sick and accident funds when not valued, page 5 of annual statement, not in excess of balance in corresponding funds (item 36, above); and liabilities of special funds (funds other than general expense funds not available for payment of benefits), page 5 of annual statement, not in excess of balance in corresponding

funds (item 36 above) $22,951.94 ................ $5,939.71

Liabilities—Actual and Contingent—sum of

items 48 and 49, above ..............................$1,098,321.71

Ratio

per cent

of Assets

Dec

31,

1939 ...

. .. 110.7%

Actual

and

Contingent

Dec.

31,

1938 ...

... 112.8%

(item

37) to

Liabilities

Dec.

31,

1937 ...

... 112.8%

Actual

and

Contingent ,

! Dec.

31,

1936 ...

. .. 107.1% 1

Adult

(Item

50) ....

1 Dec.

31,

1935 ...

... 105.9% 1

only

Form of Explanation for Publication:

(N. B. The following is to be used only where the ratio of assets to liabilities is equal to or in excess of 100%.)

The above valuation indicates that, on the basis of the American Experience table of mortality with interest at 3/ and 4 per cent., the future assessments of the society, at the net rates now being collected, together with the now invested assets, are sufficient to meet all certificates as they mature by their terms, with a margin of safety of, $117,729.21 (or 10.7% over and above the statutory standards.

Schedule A

(1)

Mortality and Interest Assumptions Used

(2)

Form of Certificates

(3)

*Is Form Still Issued?

(4)

*Certificates in Force

(5)

**Formula Used in Valuation

(a) In Calculation of Rates

(b) In Valuation of Certificates

No.

Amount

3/ & 4

Same

Whole Life

Yes

10,020

$ 9,241,100

Mid Year

Amer.

20 Payment Life

Yes

1,177

1,089,500

J» »»

Exp.

20 Year Endowment

Yes

685

646,500

>> »»

Endwoment at Age 60

Yes

92

94,500

Endowment at Age 70

Yes

2

2,000

Paid Up at Age 70

Yes

28

24,000

*> ft

Extended Insurance

Yes

15

2,350

»> >»

Paid Up Insurance

Yes

263

260,200

»> >»

Amer.

Same

Juvenile

Yes

6,506

2,762,900

>> »>

Exp.

Craigs

Ext.

3/2%

Totals

18,788

$14,123,050

EXPECTED AND ACTUAL MORTALITY ON GROSS AMOUNT AT RISK

t Expected mortality on gross amount at

risk .................................................................. $187,465.00

Total death losses incurred during the year determined as follows: Death losses paid during the year including the commuted value of installment death losses $104,543.63 (item 1, p. 3 of annual statement), plus such death losses unpaid December 31 of current year $3,000.00 (line 1, cols. 1-4, inch, page 5 of annual statement), and less such death losses unpaid December 31 of previous year

$4,250.00 (line 1, cols. 1-4, inch, page 5 of annual statement for said year), giving actual mortality on gross amount of risk $103,293.63 Ratio per cent of actual (item 55, above) to expected mortality (item 54, above) on gross amount at risk during

1939 ................................................ 55.1%

1938 ................................................ 58.1%

1937 ................................................ 51.1%

) 1936 ................................................ 77.4% l Adult

1 1935 72.7% ( only