LECTURE ON LIFE ASSURANCE.

Wanganui Herald, Volume XIX, Issue 5497, 17 December 1884, Page 2

LECTURE ON LIFE ASSURANCE.

A lecture was given on tbd 4bov6 subject list night by MtW. A, Thomson, manage* in New. Zealand for' the KqaiUble Life AkBurance Society of the United Stetet. Mir Carsoa' occupied the cfifcir; and introduced the speaker. Mr-TboniHOn' advocated the 'superior hierijn of the Tontide syfttem of in* surance a« practised by ttiA Equitable ljife Assurance f3ooifety, ; showing theeomp&jfison between 1 the iyotem noV practised by exfctI ing offices and' the Equitable. The latter Had succeeded in doing the largeitbtfiinesi in the world, ; and ' amongst * olals of people balca* lated to maintain in forotftheirjHmoieft, And not allow them to lapse, ■iwhioh'nu been the result of the large* proportion of the life iflsurance, business dbrte tbtbnghont* Anstralasiaj' The Tongue system waV proved W have brought more money info the hattdi of the widows at the death ot husbands, 1 iand to the assured themselves a? endowments for old ago, than from any blhk' known botoroe of insurance. The principle. is to conserve the accruing bonuses ' religiously • at 1 compound interest over the Tontine periods Say 10, 15, or 20 years, and prevbnfc thß assured dabbling with such interest forptirpOWof his own and' to the ultimate extinction of the reserve intended to be made for hia representatives. It was at present the riob man's inSuranbe and accepted l risks froth £1,000 to £20,000 on « aingte life at tbe society's tabulated^ rates .published in prospectus; • without the' unjust loading or additional price charged iorreilbp supposed imperfeoiioni' ' in risk's r admitted, i {The lecturer stated that every 1 life tfonld be assessed for premium as< perl prospectus or declined. Short! ■ period ' insttratibM I would be granted to lives not otherwise acceptable over the whole term of life. This Society used the Bank, of New Zealand for the collection of its renewal premiums, thereby saving for the Msured i the, cost consequent upon the employment of a local resident agent, the majority of whom are, for tho purposes of life insurance, dead-heads or fossils. A material point of economy^ is the absence ot elaborate ( printing. Another source of profit is in medical oharges, only those being examined who really intend to complete thfeir iaioranoei'at tabular rates. The extraordinary result of a oareful analysis made, shows that of the policies issued by colonial life offices, and on which suoh offices sbquld have to pay, not 11 in 100 ever become a claim. This is attributable to loan on policy, maintaining policy in force out of surrender value, and other in* dulgenees. Mr Thomson advocated the endowment for children, and stated that the Society's tables embraced every kind of known and Improved insurance. The reserve fund of the Society is £11,600,000; The bonuses had exoeeded those of any existing company in or but of the colonies. £15,000,000 had been paid to the representatives at death or maturity, and the surplus over liabilities, £2,600,000, was the largest of any , company in the world. ;Ihe total amount of insurances in force .were £58.000,000. Such figures as these might be astounding to the colonist, bat a society of this magnitude, and operating oVeYHttoh an extensive field as America, England, Scotland, Ireland, Franoe, Germany, aud the whole of Australasia, gives a seourity which is absolute, andjrelieves the mind of the possibility of any doubt. The United States Government supervision of dljHfe offioes exceeds in the amplitude of $n .investigations that of any other coantfyta the world.' The Society had complied with the New Zealand Government regulations, and had made 'the usual deposit.,. Ajfote °* thanks to the lecturer, and the Chairman i terminated the proceedings. !o! o „ ( „A