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. 1851 Excerpt: ...an assurance, a payment of five shillings, which is charged in the name of entrance money; and when the assurance exceeds 100, the entrance money is rated at five shillings per cent, upon the sum assured. This Office was established in 1797, and professes to grant to the assured, septennially, four-fifths of the net ...
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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. 1851 Excerpt: ...an assurance, a payment of five shillings, which is charged in the name of entrance money; and when the assurance exceeds 100, the entrance money is rated at five shillings per cent, upon the sum assured. This Office was established in 1797, and professes to grant to the assured, septennially, four-fifths of the net profits; the first, allocation of these surplus sums taking place in 1847. At each septennial division, the holder of a participating policy (issued subsequently to the 2nd July, 1840), which has been in force for five years, or which shall be afterwards continued in force for that period, is entitled to have his share of profits allotted in either of the following modes; viz., by a like addition to the policy, by a payment in cash, or by an equivalent reduction in future annual premiums. _ GLOBE. The Globe Office was established in 1803, with a capital of one million, the whole of which is, according to the prospectus, paid up and invested. And although the directors, possibly in consideration of the ample and decisive security enjoyed, do not recognize the concession of any portion of the surplus funds in favour of the assured, the premiums nevertheless range as high as most of the offices which grant a portion of the profits, and in some instances exceed those required by the said offices. This is a Proprietary Office, and was estalished in 1806; its capital and premium fund consists, at the present time, of upwards of three millions sterling. The allotment of profits by the Rock takes place septennially, in the following proportion: two-thirds to the assured for whole term, which is added to the policy, or applied in reduction of the annual premium, and the remaining third to the company. The London Life Association is formed like the ...
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