TABLE OF MORTALITY--HM, HEALTHY LIVES--MALE.
_Number Living and Dying at each Age, out of 10,000 entering at Age 10._
+------+---------+--------+------+---------+--------+ | Age. | Living. | Dying. | Age. | Living. | Dying. | +------+---------+--------+------+---------+--------+ | 10 | 10,000 | 79 | 54 | 6791 | 129 | | 11 | 9,921 | 0 | 55 | 6662 | 153 | | 12 | 9,921 | 40 | 56 | 6509 | 150 | | 13 | 9,881 | 35 | 57 | 6359 | 152 | | 14 | 9,846 | 40 | 58 | 6207 | 156 | | 15 | 9,806 | 22 | 59 | 6051 | 153 | | 16 | 9,784 | 0 | 60 | 5898 | 184 | | 17 | 9,784 | 41 | 61 | 5714 | 186 | | 18 | 9,743 | 59 | 62 | 5528 | 191 | | 19 | 9,684 | 68 | 63 | 5337 | 200 | | 20 | 9,616 | 56 | 64 | 5137 | 206 | | 21 | 9,560 | 67 | 65 | 4931 | 215 | | 22 | 9,493 | 59 | 66 | 4716 | 220 | | 23 | 9,434 | 73 | 67 | 4496 | 220 | | 24 | 9,361 | 64 | 68 | 4276 | 237 | | 25 | 9,297 | 48 | 69 | 4039 | 246 | | 26 | 9,249 | 64 | 70 | 3793 | 213 | | 27 | 9,185 | 60 | 71 | 3580 | 222 | | 28 | 9,125 | 71 | 72 | 3358 | 268 | | 29 | 9,054 | 67 | 73 | 3090 | 243 | | 30 | 8,987 | 74 | 74 | 2847 | 300 | | 31 | 8,913 | 65 | 75 | 2547 | 241 | | 32 | 8,848 | 74 | 76 | 2306 | 245 | | 33 | 8,774 | 73 | 77 | 2061 | 224 | | 34 | 8,701 | 76 | 78 | 1837 | 226 | | 35 | 8,625 | 71 | 79 | 1611 | 219 | | 36 | 8,554 | 75 | 80 | 1392 | 196 | | 37 | 8,479 | 81 | 81 | 1196 | 191 | | 38 | 8,398 | 87 | 82 | 1005 | 173 | | 39 | 8,311 | 88 | 83 | 832 | 172 | | 40 | 8,223 | 81 | 84 | 660 | 119 | | 41 | 8,142 | 85 | 85 | 541 | 117 | | 42 | 8,057 | 87 | 86 | 424 | 92 | | 43 | 7,970 | 84 | 87 | 332 | 72 | | 44 | 7,886 | 93 | 88 | 260 | 74 | | 45 | 7,793 | 97 | 89 | 186 | 36 | | 46 | 7,696 | 96 | 90 | 150 | 34 | | 47 | 7,600 | 107 | 91 | 116 | 36 | | 48 | 7,493 | 106 | 92 | 80 | 36 | | 49 | 7,387 | 113 | 93 | 44 | 29 | | 50 | 7,274 | 120 | 94 | 15 | 0 | | 51 | 7,154 | 124 | 95 | 15 | 5 | | 52 | 7,030 | 120 | 96 | 10 | 10 | | 53 | 6,910 | 119 | | | | +------+---------+--------+------+---------+--------+
It appears that it had long been the practice in Holland for life annuities to be granted to nominees of any age, in the constant proportion of double the rate of interest allowed on stock; that is to say, if the towns were borrowing money at 6%, they would be willing to grant a life annuity at 12%, and so on. De Witt states that "annuities have been sold, even in the present century, first at six years' purchase, then at seven and eight; and that the majority of all life annuities now current at the country's expense were obtained at nine years' purchase"; but that the price had been increased in the course of a few years from eleven years' purchase to twelve, and from twelve to fourteen. He also states that the rate of interest had been successively reduced from 6¼ to 5%, and then to 4%. The principal object of his report is to prove that, taking interest at 4%, a life annuity was worth at least sixteen years' purchase; and, in fact, that an annuitant purchasing an annuity for the life of a young and healthy nominee at sixteen years' purchase, made an excellent bargain. It may be mentioned that he argues that it is more to the advantage, both of the country and of the private investor, that the public loans should be raised by way of grant of life annuities rather than perpetual annuities. It appears conclusively from De Witt's correspondence with Hudde, that the rate of mortality assumed as the basis of his calculations was deduced from careful examination of the mortality that had actually prevailed among the nominees on whose lives annuities had been granted in former years. De Witt appears to have come to the conclusion that the probability of death is the same in any half-year from the age of 3 to 53 inclusive; that in the next ten years, from 53 to 63, the probability is greater in the ratio of 3 to 2; that in the next ten years, from 63 to 73, it is greater in the ratio of 2 to 1; and in the next seven years, from 73 to 80, it is greater in the ratio of 3 to 1; and he places the limit of human life at 80. If a mortality table of the usual form is deduced from these suppositions, out of 212 persons alive at the age of 3, 2 will die every year up to 53, 3 in each of the ten years from 53 to 63, 4 in each of the next ten years from 63 to 73, and 6 in each of the next seven years from 73 to 80, when all will be dead.