Fraternity-Testvériség, 1944 (22. évfolyam, 1-12. szám)

1944-05-01 / 5. szám

TESTVÉRISÉG

17

Form of Explanation for publication:

The above valuation indicates that, on the basis of the Am. Exp. & Stand. Ind. table of mortality with interest at 4 & 3y2 per cent., the future assessments

of the society at the net rate now being collcted, together with the now invested assets, are sufficient to meet all certificates as they mature by their terms, with a margin of safety of $223,784.06 (or 12.5%) over and above the statuary standards.

EXPECTED AND ACTUAL MORTALITY ON GROSS AMOUNT AT RISK

f Expected mortality on gross amount at risk _______________-__________________ $225,386.00

Total Death losses incurred during the year determined as follows: Death losses paid during the year including the commuted value of installment death losses $125,194.00 (item 1, page 3 of annual statement), plus such death losses unpaid Dec.

31 of current year $6,250.00 (line 1, cols. 1-4 incl., page 5 of annual statement), and less such death losses unpaid December 31 of previous year $8,000.00 (line 1, cols. 1-4, incl., page 5 of annual statement for said year), giving actual mortality on gross

amount of risk -------------------------------------- $123,444.00

Ratio per cent of actual (item 55, above) to expected mortality (item 54, above) on

gross amount at risk during 1943 54.8%

1942 __________ 52.7%

1941 54.7%

1940 58.4%

1939 __________ 55.1%

INTEREST INCOME FROM INVESTMENTS

(Excluding items belonging to general or expense funds) Note.—The figures entered in items 57 to 64, inclusive, below, should relate to benefit funds only. The general or expense fund figures are to be excluded from these items. For example: The interest, dividends and rents and investment expenses of general or expense funds are to be excluded from items 57 to 63, inclusive below; and in calculating the percentage shown in items 62, 63 and 64 below, the assets of general or expense funds are be excluded.

Interest, dividends and rents received during the year, per items 12 to 18, inclusive page 2 of the annual statement (less item 41, page 3, and less $ — amortization and plus

$ — accrual) _____________________________ 71,245.13

Add the excess of interest and rents due and accrued over interest and rents paid in advance December 31 of current year determined as follows: Item 18, pages 4, less the sum of item 33B, page 4, item 12, page 5, and the iterest in item 10, page 5, of

annual statement -------------------------------------- 14,903.05

Total _________________________________$86,148.18

Deduct the excess of interest and rents due and accrued over interest and rents paid in advance December 31 of previous year determined as follows: Item 18, page 4, less the sum of item 33B, page 4, item 12, page 5, and the interest in item 10, page 5

of previous year’s annual statement ______ 13,003.99

Interest earned during the year, item 59, less item 60, above (4.00 per cent of mean ledger assets less one-half of interest earned) ___________________________________ 73,144.19

f Investment expenses paid during the year 4,667.26, plus $ — unpaid December 31 of current year, less $ — unpaid December 31 of previous year, giving incurred investment expenses (averaging .25 per cent

ol mean ledger assets) __________________ 4,667.26

Net Interest (including rents) on Investments of benefit funds, item 61 less item 62, above (3.74 per cent of mean ledger assets less one-half of net interest income from

investments) _______________________________ 68,476.93

Net rate of interest earned on benefit

funds during 1943 3.74%

1942 3.90%

1941 3.83%

1940 3.75%

1939 3.61%

Instructions for Calculating Expected Mortality on the Gross Amount of Risk.

(a) $215,637,

qx_|_n times insurance in force Dec. 31 of previous year.

(b)

230,338,

qx_f_n times insurance in force Dec. 31 of current year.

(c)

4,797,

qx_|_n times Death losses incurred during the current year less reserve liens and interest thereon.

(d)

450,772,

Sum of items (a), (b) and (c), above. Divide item (d), by two to obtain;

(e)

225,386,

Expected gross death losses during the current year.

(f)

Am.

The above calculations were made on basis Exp. and Stand. Ind. tables of mortality.

State of New York County of New York ss.

Frank E. Gerry, being duly sworn, deposes and says that he is an actuary and an officer of Miles M. Dawson & Son, Inc., the actuaries who made the foregoing computation and answers to the questions above set forth concerning the condition of Hungarian Reformed Federation of America as of December 31, 1943, and that the same are correct and true to the best of his information, knowledge and belief. Subscribed and sworn to before me this 21 day of February, 1944.

SYLVEN SALTZER Notary Public.

(Signed) FRANK E. GERRY, Actuary,