Description: This is the discussion of the paper by Arthur Pedoe, 'The Trend of Life Insurance Company Expenses'. An alternative method for comparing expenses among companies is provided.

Description: This discussion looked at agency problems and if the average agent is as well compensated relative to other selling careers, if the increase of sales term insurance has an adverse effect on agents' earning and if the cost of Social Security, pension plans and if other fringe benefits for agents have been offset by commission reductions. From Transactions of Society of Actuaries 1960, Vol. 12, No. 33.