ANNUAL DIVISION OF PROFITS AND LARGE REDUCTION OF PREMIUMS. HAND-IN-HAND FIRE AND LIFE INSURANCE SOCIETY, 1, NEW BRIDGE-STREET, BLACKFRIARS, LONDON. Instituted in 1696; extended to Life Insurance 1836. Immediate, Deferred, and Survivorship Annuities granted. Although the lowest rates of premium, consistent with security, have been charged by the office, it has for many years been enabled to make very large returns to septennial insurers. LIFE DEPARTMENT. The important advantages offered by the plan and constitution of the Life Department of this Society areThat insurers are protected by a large invested capital upon which there is no interest to pay, and for which no deduction of any kind is made, which enables the Directors to give the whole of the profits to insuring members. That the profits are divided annually amongst all members of five years' standing, and applied towards reducing life insurance to the lowest possible rates of premium. The following table exhibits the abatement of premium that has been made for the past nine years to members of five years' standing : A policy taken out on or before the 24th of June, 1845, at an annual premium of £100, will consequently be charged £47. 10s. as this year's premium; and it is expected that an equal abatement will in future be annually made. That persons insuring their own lives, or the lives of others, may become members. That persons who are willing to forego participation in the profits can insure at a lower rate than that charged to members. The following table will show the effect of the reduction of premium made by the Society on members' policies that have been five years in force : This system of reducing the premiums affords immediate benefit to the members, or enables them to insure a further sum upon their lives equal to more than one-third of the present policy, without any additional outlay. 1143] ROBERT STEVEN, Secretary. LONDON ASSURANCE CORPORATION, Established by Royal Charter, in the Reign of King George the First, A.D. 1720. HEAD OFFICE, No. 7, ROYAL EXCHANGE, CORNHILL; BRANCH OFFICE, No. 10, REGENT-STREET, Manager of the Marine Department-TIMOTHY GREATED, Esq. | Superintendent of the Fire Office-JOSEPH SPARKES, Esq. Underwriter-JOHN ANTHONY RUCKER, Esq. Actuary-PETER HARDY, Esq., F.R.S. Superintendent of Branch Office-ABEL PEYTON PHELPS, Esq. Solicitors-JOHN COVERDALE, Esq., 4, Bedford-row; Messrs. TATHAM, UPTON, JOHNSON, and Co., 20, Austin-friars. LIFE DEPARTMENT. THIS CORPORATION has effected Assurances on Lives for A PERIOD OF ONE HUNDRED AND THIRTY YEARS; their first policy having been issued on the 7th June, 1721, to William, Lord Bishop of Sarum. Two-thirds of the entire gross profits are appropriated to the Assured,-the CORPORATION retaining the remaining one-third, out of which they PAY THE WHOLE EXPENSES OF MANAGEMENT; thus affording to the public advantages equivalent to those derived from Mutual Assurance, WITHOUT LIABILITY OF PARTNERSHIP, and with ALL THE SECURITY afforded by AN OLD AND OPULENT CORPORATION. Policies may be opened under any of the three following plans, viz. : The Old Series, under which Assurers are admitted at very moderate Rates of Premium, without participation in Profits. The Series 1831, under which Assurers are entitled, after the first Five Years, to an annual Abatement of Premium. The abatement at the last valuation was equivalent to a return of more than one-fourth of the Premium. The Series 1846, under which Assurers are entitled to participate in the ascertained profits at the end of every five years, and to appropriate their share thereof, either as an immediate Cash Bonus, as an addition to the sum Assured, or it may be made a matter of special arrangement, and applied in any manner most convenient to the parties Assured. THE FIRST DIVISION under this Series took place on the 31ST DECEMBER, 1850, and amounted, on an average, to A REVERSIONARY BONUS equivalent to about FIFTY-THREE PER CENT. upon the amount of Premiums paid. Fire Insurances may be effected at Moderate Rates upon every description of Property. MARINE DEPARTMENT. Marine Insurances may be effected at the HEAD OFFICE of the Corporation. Policies for Sea Risks are also granted, claims on which are made payable in India and China, by the Corporation's Agents, at the following places:-Calcutta, Bombay, Madras, Canton, and Shanghai. 1 171] JOHN LAURENCE, Secretary. ON THE PRINCIPLE OF MUTUAL CONTRIBUTION. THIS HALF A MILLION STERLING per Annum. Being a Mutual Assurance Society, the Members are the only parties in any way interested in the Funds; they are, in point of fact, their own assurers, and whatever is paid by way of Premium, over and above what is actually required for the risk of the Assurance, is appropriated for their behoof. This is done once in every period of Seven Years, when an Investigation into the affairs of the Society takes place, not less than one-third of the Profits, as then ascertained, being set aside as a Guarantee Fund to maintain the stability of the Institution, and the remaining two-thirds being immediately divided among the Assured-each member being entitled to elect whether he will have the value of his share handed over to him at once in cash, or have it applied as an addition to his Policy, or towards reduction of the future Annual Premiums. As a proof of the working of this system it may be stated, that in the case of a Policy opened with this Society in the year 1819, and emerging in the present year (after payment of the Premium), the representatives of the Member would receive more than double the amount of the original Assurance. THE CAPITAL OF THE SOCIETY, arising from the Accumulation of the Members' Premiums, amounts at this time to upwards of TWO MILLIONS AND A QUARTER STERLING. ANNUAL REVENUE, upwards of THREE HUNDRED THOUSAND POUNDS. Every information can be readily obtained by application at the Society's Head Office, or at any of the Agencies. EQUITY AND LAW LIFE ASSURANCE SOCIETY, No. 26, LINCOLN'S-INN-FIELDS, LONDON, AND LAW SOCIETY'S ROOMS, MANCHESTER. TRUSTEES. The Right Hon. Lord Monteagle. The Right Hon. the Lord Chief Baron. The Hon. Mr. Justice Coleridge. The Right Hon. Lord Cranworth. The Hon. Mr. Justice Erle. Nassau W. Senior, Esq., Master in Chancery. Policies do not become void by the Life Assured going beyond the prescribed limits, so far as regards the interest of third parties, provided they pay the additional Premium so soon as the fact comes to their knowledge. "Free Policies" are issued, at a small increased rate of Premium, which remain in force, although the Life Assured may go to any part of the world. The Tables are especially favourable to young and middle-aged Lives; and the limits allowed to the Assured, without extra charge, are unusually extensive. Eighty per cent. of the Profits is divided at the end of every fifth year among the Assured. At the First Division to the end of 1843, the addition to the amount assured averaged above 50 per cent. on the Premiums paid. (1 59 [1 139 BRITISH EMPIRE MUTUAL LIFE ASSURANCE COMPANY, INCORPORATED BY ACT OF PARLIAMENT, 37, NEW BRIDGE-STREET, BLACKFRIARS, LONDON. Messrs. WATSON & SONS, Bouverie-street, Fleet-street. This Company is founded on purely mutual principles: there is no proprietary under any form to absorb any portion of the profits, which all belong to the Members at large, by whom also the Directors are appointed. During the year 1850 the following new Policies were executed, in addition to the old business :- There were advanced to the Members in the same period, on various descriptions of available security, 72201. This Company is adapted to meet all the varied wants of its Members. By its Life Policies provision may be made for the evils anticipated from the death of the party assured. By its Deferred Annuities a certain income may be secured when advancing years render labour less remunerative. By its Immediate Annuities a sum of money which now yields an inadequate support in the shape of interest may be rendered much more productive; while the Investment Assurances enable every one to make provision for the time of sickness or other calamity requiring pecuniary aid. The employment of the funds in advances to the Members places within their reach the means of enlarging their trade capital, or of making advantageous purchases as opportunities offer. As there are many important towns in which Agents are not yet appointed, the Directors are open to receive applications from respectable persons in such places. If not already Members of the Company, they will be required to become so by effecting a life assurance. Upon receipt of two postage stamps the Prospectus, with Forms, &c., will be forwarded, in which some important and BRITISH EMPIRE MUTUAL FIRE ASSURANCE SOCIETY, INCORPORATED BY ACT OF PARLIAMENT, 37, NEW BRIDGE-STREET, BLACKFRIARS, LONDON. This Society (although entirely distinct in its funds and management) is conducted at the same Offices, and on the same principles, as the BRITISH EMPIRE MUTUAL LIFE ASSURANCE COMPANY. It is designed to extend to Fire Assurance the Mutual principle which has been found so successful in its application to Life Assurance. During the year 1850, 1680 new Policies have been issued, assuring property to the amount of £656,423. A large amount of business was obtained in former years. The Profits are divided every three years. Less than One-Third of the Premiums have paid all the Losses. W. S. GOVER, Secretary, Assurances can be effected daily at the Chief Offices, or at any of the Agents of the Society throughout the Empire. January 15th, 1851. The principle adopted by the Universal Life Assurance Society, of an annual valuation of assets and liabilities, and a division of three-fourths of the profits among the assured, is admitted to offer great advantages, especially to those parties who may wish to appropriate their proportion of profit to the reduction of future premiums. This practice of an annual division is especially advantageous to persons of advanced years, who cannot hope to participate in many septennial or decennial divisions. The ANNUAL REDUCTION has averaged considerably ABOVE 40 PER CENT., and in no one year has it fallen below that amount. The attention of gentlemen connected with India is particularly requested to the regulations of this Society; as, on comparison with other offices, its terms will be found peculiarly advantageous, especially as regards the liberal plan adopted on the return of Indian Assurers to reside permanently in this country; and the Indian rates have been calculated from extensive data and tables, exclusively in the possession of this Society, by which the true risk of life during residence in India has been most accurately ascertained. 142] MICHAEL ELIJAH IMPEY, Secretary. PROMOTER LIFE ASSURANCE AND AN NUITY COMPANY, No. 9, Chatham Place, Blackfriars, London. Established in 1826.-Subscribed Capital, 240,0007. This Society effects every description of Life Assurance, both Domestic and Foreign, on most advantageous terms, either on the Bonus or Non-Bonus systems. Tables of Rates, with all further particulars, may be obtained at the Office. Sir Elkanah Armitage, Knt., Ald Chairman. Thomas Bazley, Esq., Vice-Chair man. John Bannerman, Esq. The Hon. Thomas Erskine. Thomas Greig, Esq. C. J. S. Walker, Esq., Ald. GUARANTEE DEPARTMENT. A reduction of 20 per cent. on the sixth payment. An immediate and considerable reduction if a Life Assurance be combined with the Gua rantee. LIFE DEPARTMENT.-Profits of both departments divisible among the assured on the participating scale. Foreign and colonial risks on moderate terms. Payments taken quarterly, half-yearly, or annually. Medical referees paid by the company. Prospectuses, forms of proposal, and other information may be obtained at 36, Old Jewry, JAMES KNIGHT, Secretary. N.B.-No charge for Policy Stamps. [174 By order, The Society is constituted on purely mutual principles, the entire profits being divided amongst the Members. The total number of policies effected up to the 31st December, 1850, was 1786, for assuring 1,256,6287. In the past year 200 proposals were made for assuring 120,2137, of which number 155, for assuring 86,0157., were accepted and completed. The Divisions of Profit are made annually on the 31st December. Every Member participates therein who has paid two annual premiums on his policy. Every Member shares in the Profits in proportion to the number and amount of the premiums paid, accumulated at compound interest. At 31st December, 1850, the Society had been established nearly seventeen years, and the additions then allotted to the three oldest policies were as follow: Policy No. 123 £. s. d. 306 30 757 3 0 858 4 0 SAMUEL BROWN, Actuary. The Directors are prepared to appoint suitable Agents in country towns. Further information may be obtained from the Actuary. [19 |