Perspective on the pension sector  The classical Danish encyclopaedia, Salmonsen, from 1923, says: "it was formerly believed that human life should not be the subject of valuation and consequently could not be insured. Maintenance allowances, particularly life annuities, were an entirely different matter.
Unlike life assurance policies, such annuities did not put a price on human life, and therefore the sale of annuities was not deemed to be unethical." Today, both life insurance and life annuities are an integral part of the pension companies' activities, and the pension sector is an important element of the economy – and its business is not deemed unethical.