COMMON AGE TO CALCULATE PREMIUM FOR PENSIONERS AND SPOUSES

The actuaries in the New India Assurance co must able to correctly be able to calculate the premium applicable to each age group of members,by using their morbidity data and within age slab,based on the basis of number of members in each group,they will be able to calculate premium based on a weighted average.
If premium is calculated on a common average age,it will result in distortion.If majority of members are in the younger age group,they will have to bear the burden of a higher premium of the older group as well.So it is better to leave it to actuaries to calculate the premiums in a reasonably scientific manner.
C H Mahadevan

DEAR FRIENDS                                                                                                           28-11-2017

              AFTER SEING THE  PLIGHT OF  PENSIONERS UNDER  FLOATER POLICY   IT JUST STRUCK TO  ME

              WHETHER   COMMON AGE CAN BE  TAKEN TO CALCULATE   PREMIUM UNDER FLOATER  POLICY 

              KINDLY THROW  SOME LIGHT   ON  THE  RATIONALE  OF THE   DEMAND  

                I RECEIVED SMS FROM SECUNDERABAD DO    REMINDING ME   ABOUT THE OPTION  FOR 40, 50

                LAKHS 

                

                  I AM SENDING MY WRITE UP WITH DATA  

                  THANKING U

                Y/SINCERELY 

                 C S MURTY