A Comparative View of the Various Institutions for the Assurance of Lives (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1826. Excerpt: ... CHAPTER VIII. Of the Mode of assigning the Bonus to the Assured. This subject is intimately connected with the preceding, and is equally essential to be known by those who propose assuring their lives. There are two circumstances respecting it in which the public are interested; the first question is, whether the portion of profits agreed to be divided among the assured, is actually so divided? the second is, whether the manner of distributing it amongst those who have a claim on it is fair and equitable? With respect to the first of these questions, it has already appeared from the reasoning relative to two offices, the Equitable and the Rock, that two-thirds of the profits are not divided amongst the assured, as they are led to believe by the prospectus; and this is the case with all G2 those societies which do not add a larger sum to the policies than the absolute amount of the profit, unless indeed they allow an interest on the bonus. The following is a summary of the modes of apportioning the bonus, classed as far as the nature of the subject admits: --Equitable, Rock, Provident, Union, Alliance, Guardian, Norwich Union, Provident, United Empire, Economic, European, Atlas, Law Life, London Life, added to policies. Amicable, Palladium, Hope, Imperial, added to policy or applied to S diminish premium. ) added to policies in proportion T to amount of premiums paid. added to policies and interest on J bonus paid annually. a reversionary sum equal to present bonus added to policy. f applied to diminish premium or i. paid immediately. a sum equal to the average annual payment, received by the society during the last five years, divided amongst those who die in every year. f added to policies on the most (_ equitable principles of division unknown. "Those o...