A Layman's explanation of the expectancy annuity

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<title>Layman's explanation of the expectancy annuity</title>
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<name type="personal" usage="primary" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20210033322">
<namePart>Sarason, Harry M.</namePart>
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<place>
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<issuance>monographic</issuance>
<place>
<placeTerm type="text">Schaumburg, Illinois</placeTerm>
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<publisher>Society of Actuaries</publisher>
<dateIssued>1960</dateIssued>
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<language>
<languageTerm type="code" authority="iso639-2b">eng</languageTerm>
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<abstract displayLabel="Summary">One of the major tasks of some actuaries is to substitute actuarial demonstrations for the impressions of laymen. The layman normally has an impression that an annuity for the expectation of life is the same as the average value of the life annuity. The ubiquity of this misconception is shown by the fact that several actuarial papers have been written discussing the relationship and the apparent impossibility of explaining the misconception to the layman; and by the fact that the misconception is mentioned in various text books, both in actuarial text books and in books on life insurance. The misconception is mentioned in the Encyclopaedia Britannica under the topic of Annuities, and it has come up many times in our courts and in hearings before congressional committees</abstract>
<note type="statement of responsibility">Harry M. Sarason</note>
<note>Pertenece a la donación de la biblioteca particular de D. Camilo Pieschacón Velasco</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080579258">
<topic>Cálculo actuarial</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080580377">
<topic>Esperanza de vida</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080570590">
<topic>Seguro de vida</topic>
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<classification authority="">6</classification>
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<title>Transactions of Society of Actuaries</title>
<partNumber>Vol. 12, nº 33, 1960</partNumber>
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<recordChangeDate encoding="iso8601">20211209124227.0</recordChangeDate>
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