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Industrial Assurance Act 1923
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- UK Public General Acts
- 1923 c. 8
- FOURTH SCHEDULE
- GENERAL RULES APPLICABLE BOTH...
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GENERAL RULES APPLICABLE BOTH FOR VALUING POLICIES AND FOR ASCERTAINING THE AMOUNT OF A FREE PAID-UP POLICY.
1Interest is to be assumed at the rate of four per centum per annum.
2The rate of mortality is to be assumed according to the table contained in the Sixth column of Table G. in the Supplement to the Sixty-fifth Annual Report of the Registrar-General.
3The age of the person whose life is assured shall be obtained by adding to the age attained by him at his birthday next after the elate of the issue of the policy, the duration of the policy in completed years at the date as at which the value of the policy is required to be ascertained.
4In the case of a policy issued for a term other than the whole term of life, the remaining term at the date at which the value of the policy is required to be ascertained shall be' obtained by deducting from the original term of the policy the duration of the policy in completed years at that date.
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