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rent cost for all parts of the year until the whole rear's insurance is paid for. This assumption that the risk does not vary throughout the rear is called the assumption of uniform deaths throughout the year. On the basis of this assumption, insurances at current cost, with premiums more frequent than annual, may be treated as one-year term insurances, with premiums adjusted to the varying cost at the beginning of each rear.

Another assumption, usual in British and American life insurance companies, is that death-claims are pa}'-able on the average at the end of the policy year in which the deaths occur. This was probably nearly true when claims were not parable until three months after approval of proofs of loss; for deaths occur on the aver-age in the middle of the year and allowing three months on the average to make claim and complete proofs and then three months for payment, the claims would be paid on the average at the end of the year. But in these days, when proofs are made so promptly- and claims paid almost at once, it would doubtless be more accurate to assume that death-claims are parable at the middle of the rear. Such is the assumption in Prance and some other countries ; and doubtless the change would be made also in Great Britain and America if it were not, first, that there are so many- valuable working tables based on the other assumption, and, second, that the margins in the standard mortality tables make the distinction of minor importance.

Let us then compute the annual premium, payable at the beginning of the }-ear, for one }ear's insurance from age 10. And let us assume that deaths will be according to the Actuaries' Table, and that money in hand