1756

James Dodson Develops Actuarial Methods for Level Premium Life Insurance

What happened

British mathematician James Dodson, denied life insurance because of his advanced age, developed mathematical tables for calculating level annual premiums adjusted for risk over time — the theoretical foundation of modern life insurance.

Literary impact

Dodson's work exemplified the Enlightenment quantification of human life; his methods helped transform death from a theological mystery into a calculable risk, a conceptual shift that resonated in the elegiac and philosophical poetry of the mid-eighteenth century.

Source: Wikipedia

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37 poets

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