The whole financial basis of insurance would be questionable if it were possible to change the relative frequency of the occurrence of the insurance … - Richard von Mises

I do not want to defend the occult sciences; I am, however, convinced that further unbiased investigation of these phenomena by collection and evaluation of old and new evidence, in the usual scientific manner, will lead us sooner or later to the discovery of new and important relations of which we have as yet no knowledge, but which are natural phenomena in the usual sense.

Apart from this older generation, there is scarcely a modern mathematician who still adheres without reservation to the classical theory of probability. The majority have more or less accepted the frequency definition.

Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that persons who enter early into insurance contracts are on the average of a different type and have a different distribution of death ages from persons from persons admitted to the insurance at a more advanced age.