Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that persons who enter early into insurance contracts are on the average of a different type and have a different distribution of death ages from persons from persons admitted to the insurance at a more advanced age.


First Lecture, The Definition of Probability, p. 18 - Probability, Statistics And Truth - Second Revised English Edition - (1957)

Richard von Mises Quotes

Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that...

Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that...

Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that...

Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that...