<P>§0. Introduction<BR>The objective of these notes is to present the basic aspects of the theory of<BR>insurance, concentrating on the part of this theory related to life insurance. An<BR>understanding of the basic principles underlying this part of the subject will form a<BR>solid foundation for further study of the theory in a more general setting.<BR>Throughout these notes are various exercises and problems. The reader should<BR>attempt to work all of these.<BR>A calculator, such as the one allowed on the Society of Actuaries examinations,<BR>will be useful in solving some of the problems here. The problems contained here<BR>are not all amenable to solution using only this simple calculator. A computer<BR>equipped with spreadsheet software will sometimes be useful, especially for the<BR>laboratory exercises.<BR>Copyright</P>
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