Description: This paper begins with an investigation of the conceptual profit model known as Anderson's formula, then it compares Anderson's formula with two alternative profit formulas and discusses some applications and limitations of each method. A discussion of the paper follows. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: It is to be hoped that the demonstration of these formulas, at least for an ordinary whole life policy, will be included in text books on life contingencies. Lidstone's paper is one of the classic papers in JIA analyzing the equity of the British uniform reversionary bonus system. From Transactions of Society of Actuaries 1958, Vol. 19, No. 28.