INSURANCE ON THE KING'S LIFE

Evening Post, Volume LXXX, Issue 20, 23 July 1910, Page 13

INSURANCE ON THE KING'S LIFE

OVER £300,000 TO BE RECEIVED. British files report that over £300,000 will be paid by insurance offices to policy-holders as an outcome of King Edward's death. "Every office in the country is affected," said the manager of one insurance company, "to the extent of from £5000 upwards, upon policies taken out on the King's life. A very good idea of the total amount to be paid out can be gained by reckoning it at £6500 for fifty offices, or £325,000. We ourselves have about £7000 on the King's life. "The insurance companies generally do not, however, stand to lose money through the death of His Majesty. The great mass of policies upon his life have been entered into to cover any los.s to the holders of copyhold leases granted for the term of King Edward's life. As these leases were entered into many years ago, when he was a young man and Prince of Wales, the insurance companies have had time to make this class of business profitable. These insurances come almost entirely from districts within the Duchy of Cornwall. For some years past we have effected insurances on the lives of King George's children owing to their names appearing in leases. "Insurances have in addition been entered into by' shopkeepers, caterers, entertainment providers, etc., against loss of trade through the death of the King. At the end of last year from ten to'fifteen guineas per cent, was charged for this kind of risk."