The life insurance industry is one of the last examples of unrestricted capitalism in this country. Despite some regulation by various government agencies, life insurance remains a largely uncontrolled financial giant. It is the life insurance plan, how it works, that shields this industry. The Mortality Mortgage, the source of the Barnes Standard is an explanation of life insurance pricing, and a call for full financial disclosure through regulation of the industry. It is intended for financial consultants, tax attorneys, CPA's, life insurance agents, and other groups who advise consumers on financial matters. Insurance buyers supply this industry with millions of dollars in premiums each year. Consumers deserve a truth in lending law and an appraisal process for this financial service. Life insurance is not a product, it is financing. Four factors denote financial quality: price or principal, rate, term and closing costs. Consumers understand these financial elements for homes and bonds, but they do not equate the fundamentals of financial quality with life insurance. The life insurance industry, through marketing and advertising, has taught the public to focus on premiums, death benefits, and cash values; financial elements are ignored. The Mortality Mortgage compares and contrasts three financial models: the home mortgage, the bond or debt security, and life insurance. Additionally, it provides the formulas necessary for appraisal of a life insurance plan. With an appraisal, a comparison of insurance policies is possible. Once pricing is understood, consumers will demand full financial disclosure through regulation of the life insurance industry.
Towards the end of the nineteenth century, Frege gave us the abstraction principles and the general notion of functions. Self-application of functions was at the heart of Russell's paradox. This led Russell to introduce type theory in order to avoid the paradox. Since, the twentieth century has seen an amazing number of theories concerned with types and functions and many applications. Progress in computer science also meant more and more emphasis on the use of logic, types and functions to study the syntax, semantics, design and implementation of programming languages and theorem provers, and the correctness of proofs and programs. The authors of this book have themselves been leading the way by providing various extensions of type theory which have been shown to bring many advantages. This book gathers much of their influential work and is highly recommended for anyone interested in type theory. The main emphasis is on: