Instituted 1820.
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SAMUEL HIBBERT, ESQ., _Chairman_.
WILLIAM R. ROBINSON, ESQ., _Deputy-Chairman_.
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The SCALE OF PREMIUMS adopted by this Office will be found of a very
moderate character, but at the same time quite adequate to the risk
incurred.
FOUR-FIFTHS, or 80 per cent. of the Profits, are assigned to Policies
_every fifth year_, and may be applied to increase the sum insured, to an
immediate payment in cash, or to the reduction and ultimate extinction of
future Premiums.
ONE-THIRD of the Premium on Insurances of 500l. and upwards, for the whole
term of life, may remain as a debt upon the Policy, to be paid off at
convenience; or the Directors will lend sums of 50l. and upwards, on the
security of Policies effected with this Company for the whole term of life,
when they have acquired an adequate value.
SECURITY.--Those who effect Insurances with this Company are protected by
its Subscribed Capital of 750,000l., of which nearly 140,000l. is invested,
from the risk incurred by Members of Mutual Societies.
The satisfactory financial condition of the Company, exclusive of the
Subscribed and Invested Capital, will be seen by the following Statement:
On the 31st October, 1853, the sums
Assured, including Bonus added,
amounted to £2,500,000