■ ' , ipj'iiiii■ : • V ; j. . r. 'h; ■, ij ■,,! ; :-i 
DEFERRED ASSURANCES. 
205. To find the value of a deferred assurance. 
The present value of an assurance for the first t years added to the 
present value of an assurance deferred t years, is evidently equal to the 
value of an assurance to he entered upon immediately for the whole 
term of life; it therefore follows that the value of the assurance of a sum 
to be received at the end of the year in which the life or lives shall fail, 
provided that event take place after t years, is equal to the difference 
between the value of the assurance of that sum for the whole term of 
life, and of the assurance for the first t years only. 
Art. 187, A 
Art. 197,-4 
&c.) 
fL = r— (1— r)a 
(m y Wp wig j &c.) 
(m, mi, nu2, &c.) 
(m, mi, mq, &c.), t 
—(1 -r)a 
(rn, Wj, W2j&c,) 
(m, rn-i, &c.) 
i -(1 -r)(a— 
;c.)j t v J \ (m, 
(m, mi,m<2, &c.) (m, my, m&c.) (m, my, &c.) 
(m, my, m<2> &e ) (jn, my, &c.) 
the value of an an- 
,\A — — r Hi n A- , — (1 — ;•) a 
(m, my, m<2, &c.} • Jf (m,mp m%, &c.), t 
(jn, my, m%, &c.) 
206. The annual premium is found (if t premiums only be payable) 
by dividing the single premium by