ANNUAL REPORT OF THE GOVERNMENT INSURANCE COMMISSIONER FOR THE YEAR ENDED 31st DECEMBER, 1914.

Appendix to the Journals of the House of Representatives, 1915 Session I, H-08

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1915. NEW ZEALAND.

ANNUAL REPORT OF THE GOVERNMENT INSURANCE COMMISSIONER FOR THE YEAR ENDED 31st DECEMBER, 1914.

Presented to both Houses of the General Assembly pursuant to the Provisions of the Government Life Insurance Act, 1908.

Government Insurance Office, Wellington, 21st June, 1915. I have the honour to submit the following report upon the transactions of the Department for the year ended the 31st December, 1914, and its position at that date. The Revenue Account, Balancesheet, and Statement of Business are appended. Neiv Business and Amount in Force. —During the year 4,904 proposals were dealt with for the assurance of £1,388,427. The number of policies actually completed was 3,931, assuring £1,116,353, with annual premiums amounting to £30,824. Twenty-eight annuities were also granted, on which the purchase-money was £17,712. The amount of new business completed is the largest effected by the Department in any one year, while the average sum assured per policy —£284—also shows a very satisfactory increase. The total business now in force, including 399 immediate and deferred annuities for £22,523 per annum, is 52,273 policies, bearing an annual premium income of £370,882. The sum assured, payable at death or maturity, is £12,550,465, to which have been added reversionary bonuses amounting to £1,246,610. The total business on the books thus amounts to £13,797 075. Income. —The total income of the Department was £609,241. It was made up as follows : Premium income, £364,776 ; interest income (less land and income tax), £226,749 ; annuity purchase-money, £17,712 ; fees, £4. Outgo. —During the year 519 policies became void by the deaths of policyholders, the claims amounting to £187,560; this amount is larger than usual, but is considerably under what is provided for in the tables of mortality used by the Department. Six hundred and fourteen policies also matured for £148,149. The total sum which has been paid in respect of claims by death and survival since the foundation of the Department forty-five years ago has amounted to £5,330,457. Accumulated Funds. —The total assurance, annuity, and endowment funds, apart from a special investment reserve of £189,121, now stand at £5,033,884. The Balance-sheet. —On the 31st December, 1914, the total assets of the Department amounted to £5,267,991, and were invested as shown in the following statement, which also gives the distribution of the assets at the end of the previous year for purposes of comparison : —

Investment Fluctuation Fund. —Owing to the war the market price of Government and other securities quoted on the London Stock Exchange has fallen considerably, and although a full recovery is no doubt only a matter of time, it has been thought advisable to value the Department's

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At 31st Dei member, 1913. Peroentage of Total Assets. Glass of Investment. At 31st ] •ecember, 1914. Peroentage of Total Assets. Amount. Amount. & 3,154,213 842,132 665,900 174,236 136,529 119,374 43,445 61'4 pel- cent. 16-4 13-0 3-4 2-7 2-3 0-8 Mortgages on freehold property Loans on policies Government securities Local bodies' debentures Landed and house property Miscellaneous assets... Cash in hand and on current account £ 3,219,661 852,549 665,900 191,097 134,996 122,169 81,619 61-1 per cent. 16-2 12-6 3-6 2-6 23 1-6 100-0 per cent. 100-0 per cent. Total 5,267,991 100 0 per cent. 5,135,829

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securities at the lowest quotation and to make a further reserve on account of mortgages on property. An additional sum of £75,458 has therefore been carried to the Investment Fluctuation Eeserve, bringing the amount up to £189,121. Advantage was taken of the Secretary's presence in London to consult Mr. George King, P.1.A., the eminent British Actuary (who for many years has acted as the Department's Consulting Actuary), about this important matter, and the course adopted has been with his concurrence and approval. It may be mentioned that British offices of undoubted financial strength, whose bonus distribution was due to take place at the end of 1914, are showing their Stock Exchange securities at the market price ruling on the 31st December, 1913. This course is being followed with the assent of the Board of Trade. The Department, however, owing to an exceptionally strong financial position, has been able to make provision on the basis of the market price at the end of 1914, and at the same time to maintain its eminently satisfactory rate of bonus. Triennial Investigation, —The valuation of the Department's liabilities on the 31st December last was completed early in the present year, full particulars of which are given in the Actuary's report. After adding a further sum of £75,458 to the Investment Fluctuation Eeserve as mentioned above, there remained a surplus of £222,065, of which £213,008 was divided among the policyholders by way of bonus and the balance of £9,057 carried forward. As on former occasions, the surplus divided was allotted as a compound reversionary bonus on the sum assured and bonuses in force, thus giving bonuses increasing with the duration of the policies to those policyholders who had not surrendered their previous bonuses. The bonuses allotted range from 21s. to 335. per cent, per annum on the sum assured, General and Temperance policyholders, whose policies were in other respects equal, receiving the same bonus. The cash surplus divided, £213,008, represents additions to the policies payable at death or on maturity of £338,760. Since the inception of the Department in 1870 £1,811,385 in cash has been distributed by way of bonus, the corresponding addition to the sums assured being £3,246,289. At a time like the present my report would be wanting if I did not make some reference to the manner in which the staff of this Department have responded to the call for recruits in connection with the Expeditionary Forces. The total number of officers who have enlisted is twenty-two, of whom nine were included in the original expedition to Samoa. The majority of these nine gentlemen either remained in the Forces or have since re-enlisted for service in Europe, and the total number at present on active service or awaiting orders to join the Trentham Camp is nineteen. J. H. Richardson, Government Insurance Commissioner.

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1914. £ s. d. £ s. d. Amount of Funds at Ist January, 1914 4,980,131 8 9 Death claims under polioies, Assuranoe, Renewal premiums —Assuranoe, An- including bonus additions .. .. 187,559 14 8 nuity, and Endowment .. .. 334,486 19 4 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 145,081 9 11 of first year's premiums falling due Endowments matured .. .. 3,007 4 0 in the year) .. .. .. 29,073 15 5 Premiums returned on endowments .. 41 15 9 Single premiums—Assurance and En- Bonuses surrendered for cash .. 2,178 18 4 dowment .. .. .. 1,215 9 3 Annuities .. .. .. .. 18,137 13 1 Consideration for Annuities .. .. 17,711 14 4 Surrenders .. .. .. 18,964 10 3 Interest .. £243,27114 6 Loans released by surrender.. .. 36,87115 11 Less land and in- Commission, new* .. £22,720 5 3 come tax 16,523 0 8 , renewal 2,675 13 1 220,748 13 10 25,401 18 4 Pees .. .. .. ~ 4 810 Expensos of management— Salaries— Head Office ..£18,077 7 1 Branoh offices and agents .. .. 7,563 19 11 Extra clerioal assistance 233 6 0 Medical fees and expenses .. .. 5,268 15 11 Travelling-expenses .. 979 4 6 Advertising .. .. 623 13 5 Printing and stationery 1,285 17 4 Rent .. .. 2,737 0 9 Postage and telegrams 1,485 9 9 Exohange .. .. 66 i 7 Office-furniture depreciation .. .. 270 9 3 General expenses .. 2,373 5 3 Triennial expenses .. 1,104 4 7 Compensation under section 26 of the Appropriation Aot of 1910 .. .. 656 12 2 42,725 10 6 Investment Fluctuation Reserve .. 75,458 0 0 Amount of Funds, 31st December, 1914 5,033,883 19 0 £5,589,372 9 9 . £5,589,372 9 9 * Including Agents' allowances.

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Balance-sheet of thr Government Life Insurance Department on 31st December, 1 14Liabilities. Assets. £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 852,549 3 10 dowment Funds (us per Revenue Government securitiesAccount) .. .. .. 5,033,883 19 0 Consolidated stock .. 025,900 0 0 Claims admitted, proofs not yet com- Debentures issued pleted .. .. .. .. 40,348 10 3 under the District Annuities .. .. .. .. 132 14 3 Railways PnrchasCommission .. .. .. 122 14 10 i n g Aot 1885 ExMedical fees .. .. .. 409 10 0 tension and AmendPremium and other deposits.. .. 3,053 10 8 ment Act, 1886 .. 40,000 0 0 Sundry accounts owing .. .. 918 18 1 665,t-00 0 0 Investment Fluctuation Reserve .. 189,121 0 1 Municipal Corporation debentures .. 114,910 6 5 County securities .. .. .. 3,737 4 8 Harbour Board debentures .. .. 37,900 0 0 Town Board debentures .. .. 18,950 0 0 Road Board debentures .. .. 15,000 0 0 Drainage Board debentures .. .. 600 0 0 Landed and house property .. .. 133,120 .13 8 Landed and house proporty (leasehold) 1,875 6 0 Office furniture (Head Office and agencios) .. .. .. 270 9 6 Mortgages on property .. .. 3,219,060 13 5 Properties acquired by foreclosure .. 2,848 9 9 Overdue premiums on policies in force .. £7,138 0 9 Outstanding premiums due but not overdue.. 36,660 6 3 43,798 7 0 Overdue interest .. £2,464 0 10 Outstanding interest due but not overdue.. 7,056 5 3 Interest accrued but not due .. .. 63,264 14 4 72,785 0 5 Agents'balances .. .. .. 2,466 11 9 Cash in hand and on ourrentaocount.. 81,618 16 9 £5,267,991 3 2 • £5,267,991 3 2 Government Life Insurance Department, 18th March, 1915. J. H. Richardson, Commissioner. W. B. Hudson, Secretary. Audited and found correct. Robert J. Collins, Controller and Auditor-General.

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Statement of Business

TOTAL. YEAR 1914. Annual a,,™ Rever- Promiums. Annuities. jj 0 oum sionarv ~~ - ~ assured. n om ..'. 1. Ordinary. 1. Immediate | uoco - 2. Extra. 2. Deferred. TOTAL, Whole-life and Term Assurances. Annual Vnnuities. Rever- Premiums. Immediate assured. jj onu6eB . 1. Ordinary. Deferred. 2. Extra. POLICI POLICIES ISSUED AND DISCONISCON- £ £ £ s. d. £ s. d. £ s. d. £ £ £ s. d. Policies in force at 31st 51,34312,211,6551,327,812 ] 361,554 19 1117,412 6 8) December, 1913 1 2,063 1 4 3,881 12 10 J Now Business .. .. 3,959 1,116,353 .. I 30,654 11 7 1,835 15 2) 1 169 14 3 54 13 10 j 51,343 3,959 17,412 6 8) 3,881 12 10 J 1,835 15 2 I 54 18 10 j 11,46613,458,544 699 274,400 747,737 ] 78,844 19 1 1 | 1,328 17 1 f J 6,327 14 10 I t 110 10 0 J Bonus allotted .... Total.. .. 55,30213,328,0081,327,812] 392,209 11 619,248 110 1 I 2,232 15 7 3,936 6 8 } 55,302 12,165j ! 3,732,944 13,328,008 1,327,812 ] 392,209 11 6 I 2,232 15 7 19,248 1 10 I 3,936 6 8 } 747,737 ] 85,172 18 11 | 1 1,439 7 1 J Policies discontinued 3,029 777,543 81,202 J 23,486 13 2 566 8 6 I during 1914 | 162 17 5 94 14 4 J 3,029 777,543 81,202 J 23,486 13 2 ( 162 17 5 566 8 6 ) 94 14 4 j 670 233,870 42,727 ] 5,843 10 8 ) t 103 0 4 | Total policies in force at 52,273 12,550,465 1,246,610 J 368,722 18 4 18,681 13 4 ) 31st December, 1914 | 2,069 18 2 3,841 12 4 ) !73 12,550,465 1,246,610 l] 368,722 18 4 18,68113 4)11,49513,499,07 I 2,069 18 2| 3,841 12 4 ) 18,681 13 4 ) 3,841 12 4 ) U,495j3,499,074 705,0101 ( 79,329 3 3 ) t 1,336 6 9J I I I I PARTICULA How discontinued. PARTICULARS OF PO •ICIES DISCONBy Death .. .. 532 147,456 36,026 [ 4,428 15 01 590 15 6 92 8 11 Maturity .. 614 119,801 25,051] 4,781 7 10) 16 10 3 ! .32 147,456 36,026 >14 119,801 25,051 >57 151,811 8,698 i [ 4,428 15 01 590 15 6 343 105,901 I 92 3 llj J 4,781 7 10) .. .. | 16 10 3j I I 4,666 13 3 11 10 0 S9 27,16I 18 17 0) 590 15 6 343 105,900 32,490 f 2,682 0 4) 1 67 0 3 f ( IO J.U O ) i Surrender .. 657 151,811 8,698] 4,666 13 3 11 10 0 18 17 0 11 10 0 S9 27,164 4,117 ( 744 2 9 1 1 9 18 8 f Surrender of Bonus.. .. .. 3,508 3,508 2,000 Lapse .. .. 1,225 357,475 7,919] 9,220 16 9) 58 17 4 26 10 81 ( zo ru o | Expiry of Policy .. 1 1,000 .. j 13 18 4] Expiry of Premium.. .. .. .. f 145 15 11) 1 ' 0 12 6 !25 357,475 7,919 1 1,000 J 9,220 16 9) 58 17 4 237 99,80i | 26 10 8) j 13 18 4] .. 1 l,00i ] 145 15 11) | 0 12 6J J 229 6 1[ 1 8 3 If 58 17 4 237 1 99,800 1,000 4,120 J 2,087 9 8 1 1 17 19 0 ] 13 18 4 [ I 145 15 11 I 1 0 12 6 | ] 170 8 8 j \ 7 14 11 J ( U X2 OJ Miscellaneous .. .. .. .. ] 229 6 11 1 8 3 If Total .. 3,029 777,543 81,202 ( 23,486 13 2) 661 2 10 3,029 777,543 81,202 ( 23,486 13 2) ( 162 17 5 J_ 661 2 10 670 233,870 42,727 ] 5,843 10 8) L 108 ° i i prog: tESS O V BUSINESS OF T he gove: tNMI !NT LI FE INS IURANCE rotal issued .. .. 129,540 129,540 31,732,134 2,907,530 2 8) 1.660,920 («*.« | 1J| 92,480 19 4 41,959 12,579,746 1,714,585 (328,881 5 9) ( 10,976 3 10f 1249,552 2 6) j 9,639 17 IJ rotal void .. .. 77,267 77,267 19,181,669 69,957 13 8 30,464 9,080,672 1,009,575 Total in force .. 52,273 52,273 12,550,465 1,246,610 368,722 18 4 22,523 5 8 11,495 3,499,074 705,010 79,329 3 3 Extra Premiums Eeduction of Premiums 1 iy Bonus, 2,069 18 2 89 11 2 1,336 0 9 ;c. imium is the premium charged £370,882 7 8 Note.—The Ordinary Pn Wellington, 3rd March, 1915.

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at end of Year 1914.

-LO, .urances. Annuity Assurances. ANNUITIES. SIMPLE ENDOWMENTS, INVESTMENTS, ETC. Endowment As I o ReverORSHvnr! sionary assured. Bonusos Annual Premiums. 1. Ordinary. 2. Extra. 1. Sum j No. 2 a Bever: i Referred Annual sionarv Annuities. Premiums. _J Bonuses. I Annuities. N Annual ""■ Premiums, i. immediate. 2. Deferred. 1. Sum assured. Annual No. 2. Rever- Premiums, sionary Bonuses. (_ No. t: NUED DUR] NG THE YEAR 1914. 38,079 £ 8,535,481 578,352 774,603 £ s. d. (275,262 2 21 ( 734 4 3} ( 23,106 18 51 | 59 4 3} 77 £ f 17,045) } 1,656} ] 550) £ s. d. 3,861 12 10 £ s. d. 911 9 7 £ : s. d. 6 0 6 £ s. d. 17,412 6 81 20 0 0} 1,835 15 21 £ (200,685) 1 67} j 66,8001 £ s. d. 6,530 8 7 2,962 54 13 10 32 3 0 ,383 ( 2S 1,337 270 1,187 15 4 -• 41,041 9,310,084 578,352 (298,369 0 7) \ 793 8 6} 77 ( 17,595) } 1,656} 3,916 6 8 943 12 7 f 411 1 1 19,248 1 101 20 0 0} 1,607 (267,385) t 67} 7,718 3 11 e"o e 2,219 523,823 38,302 f 17,042 5 7) 1 59 17 l} I 400) 1 46} 94 14 4 20 7 0 I" 566 8 61 124 I 19,450) 1 67| 580 9 11 38,822 8,786,261 539,990 (281,326 15 0) t 733 11 5} 74 ( 17,195) j 1,610} 3,821 12 4 923 5 7 ,398 18,681 13 41 20 0 0J" 1,483 (247,935) 7,137 14 0 o"o 6 INUED DUR1 :ng the year 1914. 175 41,400 3,529 f 1,739 4 8 1 t 25 3 8 } J 4,681 9 5 I 1 16 10 3 ( j 3,539 11 1 i 1 9 3 4} 1 { 150) 7} 566 8 6 24 7 0 7 10 0 18 592 116,801 24,984 22 f 3,000) 1 67} j 11,650) 99 18 5 490 112,947 4,559 1 ( i i 150) 22} "J 'Sal 11 10 0 7 10 0 77 375 9 5 1,504 962 252,675 3,786 I 7,026 17 2 ) t 8 11 8 } 1 58 17 4 5 7 0 25 ( 4,900) 101 2 11 ( 55 3 3 ) 1 0 8 2} 3 19 2 530 9 11 2,219 523,823 38,362 f 17,042 5 7 1 j 59 17 1 } 3 1 400) 46} 94 14 4 20 7 13 506 8 6 124 f 19,450) ] 67J iPART: /LENT SINCE DAI ESTABLISHMENT TO 31st DECEMBER, 1914. 81,594il8,541,8991,186,993|| X «jj *H 1,106 42,772 9,755,638 647,003 ■ { 33 | * f ol 11 4} 1 ' 032 38,822 8,786,261 539,990 281,326 15 0 74 733 11 5 at the true age; the Extra, the additional premium imr. 1,106 1,032 i | 15 5|759} 57,350 3 2 8,437 ! I 53,528 10 107,514 I j 1 x'61o} 3 ' 821 12 i 923 posed for any reason whatsoever. | 15 5'759f 57 >350 3 28,437 13 6 | 14 4'l49f 53 - 528 1° 107,514 7 11 | 1 x'61o} 8 ' 821 12 * 92 3 5 7 f 768 348 0 10 35,130 10 2 4,113 j 452,389 \ 15nd 1Q 8 (204,454) - „. 1fi „ j 193j|°' 5911G 8 369342 0 4 I 10,429 2 10 2,630 74 399 6 6 247,935 i 7,137 14 0 18,701 13 4 1,483 J. H. Eichardso: t, Cc immissioner. Percy Muteb, itingActuary.

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GOVERNMENT INSURANCE DEPARTMENT.

STATEMENTS IN CONNECTION WITH THE VALUATION OP LIABILITIES (FOUBTH AND FIFTH SCHEDULES) JOB THE TRIENNIUM ENDING 31st DECEMBER, 1914.

Presented to both Houses of the General Assembly pursuant lo Section 38 of the, Government Life Insurance Act, 1908.

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REPORT BY THti ACTUARY RESPECTING THE VALUATION OF THE LIABILITIES UNDER LIFE POLICIES AND ANNUITIES OF THE NEWZEALAND ffimmmmi Jtoraiw feprtnmtt, In terms of Section 36 of the Government Life Insurance Act, 1908. (See Fourth Schedule.) I. Thk date up to which the valuation was made was the 31st December, 1914. 11. The principles upon which the valuation and distribution of profits were made were as follows :—- -(1.) Principles of Valuation. —The valuation has been made upon a strictly " net premium " basis ; in other words, no credit whatever has been taken for any extra premiums or loadings, the net premiums alone having been valued for inclusion among the assets. The liability has been ascertained by taking the difference between" the present value of the sums assured (including reversionary bonuses) and the present value of the net premiums (derived from the Institute of Actuaries H M Table with 3o per cent, interest), and an addition has been made to this liability of ,€lOB,OOO. which has had the practical effect of reducing the interest basis to 3| per cent. Where the original premiums have been reduced by the application of amounts received in consideration of the surrender of bonuses or former policies the present values of such reductions have been added to the liability. In all eases where an extra premium was payable the policy has been valued at the true age, and a full proportion has been reserved for the unexpired risk for which the extra premium had been paid. Adequate extra reserves have been made for limited-premium policies and the immediate payment of claims in the case of whole-life assurances, and allowance has been made for the actual incidence of the premium income. Reserves have been made for Deferred Annuities equivalent to the premiums paid accumu-

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FOURTH SCHEDULE.

lated at 4 per cent. Endowments have been valued as sums certain payable at the end of their respective terms, and mortality has only been taken into consideration where the premiums are payable during the joint lives of the child and purchaser, per cent, compound interest being used ; the surrender value has been taken as the minimum reserve. Annuities have been valued by the British Offices' Life Annuity Tables (1893), using 3 per cent, interest. In the case of annuity-assurances the value at age 60 of the annuity has been computed by the 1883 English Annuitants Experience and treated as an endowment payable at age 60, which has then been valued, in combination with the insurance portion of the contract, by the Institute H M Table, with 3-i per cent, interest. The valuation has been made in duplicate, and the policies valued in groups where practicable. (2.) Principles of Distribution of Surplus. —The divisible surplus is distributed among the policyholders entitled to participate as a uniform reversionary bonus per cent, on sums assured and existing bonuses, for each premium paid since the last division ; and an interim bonus is also paid, at the same rate, in respect of those policies which may be surrendered or become claims before the next distribution of surplus. The approximate profit from favourable mortality in the General Section and the Temperance Section respectively has been ascertained and specially divided among the members of the respective sections. The result is that temperance policies will, on this occasion, receive reversionary bonuses at the same rate as general policies which are like them in all other respects. The divisible surplus has been converted into reversionary bonuses by means of the H M Table of Mortality with 3-g- per cent, interest, the reversion for a continuous assurance having been used for whole-life policies. 111. The Tables of Mortality used in the Valuation were, — (1.) For Assurances, the Institute of Actuaries H M (Healthy Males) Table ; (2.) For Annuities, British Offices' Life Annuity Tables (1893). IV. The rate of interest assumed in the valuation was 3i per cent., except in the special cases mentioned in paragraph II (1), where a higher reserve was considered necessary. V. The whole of the loading, or the difference between the premiums payable to the office and the net premiums, amounting to .€58,335 per annum and valued at €694,066, has been reserved for future expenses and profits ; and in the case of limited-premium and paid-up policies, where the loading as well as the risk-premium is payable for a limited period only, a further reserve of €5,974 has been made to provide for expenses and profits when the premiums shall have ceased. VI. The Consolidated Revenue Account for the three years that have elapsed since the last valuation is given on page 5.

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FOURTH SCHEDULE.

CONSOLIDATED REVENUE ACCOUNT OF THE GOVERNMENT INSURANCE DEPARTMENT, Fob the Period commencing Ist January, 1912, and ending 31st December, 1914 £ s - <!■■• £ s. d. £ s. d. Amount of Funds on est January, 1912 .. 4,699,969 11 9 Death Claims under Policies, Renewal Premiums .. .. .. 986,252 19 9j Assurances, including Bonus New Premiums .. .. .. .. 83,227 9 31 Additions .. .. 485,299 16 o Single Premiums .. ... .. 6,461 t6 2 Endowment Assurances maConsideration for Annuities granted .. 39,264 9 5 tured, including Bonus AdInterest .. .. .. .. 700,917 16 n ditions .. .. .. 426,594 17 10 Fees .. .. .. .. .. 21 16 10 Endowments matured .. 7,259 12 o Premiums returned on Endowments .. .. .. 388 13 5 Bonuses surrendered for Cash 18,693 l 5 ll Annuities .. .. .. 53,268 11 9 Surrenders, Ordinary .. 62,111 7 10 Loans released by Surrender.. 104,613 1 2 1,158,229 15 11 Commission, New* .. .. 64,199 14 7 Renewal .. 7,844 18 o 72,044 12 7 Land and Income Tax .. .. 46,947 7 9 Expenses of Management— Salaries, Head Office .. 53,709 6 7 Branch Offices and Agents.. .. 23,480 6 3 Extra Clerical Assistance .. 493 6 3 Medical Fees .. .. 15,310 3 6 Travelling-expenses .. 2,686 16 6 Advertising .. .. 2,844 8 4 Printing and Stationery .. 4,546 10 1 Rent .. .. .. 8,414 10 6 Postage and Telegrams .. 4,912 410 Exchange .. .. 238 1 5 Office Furniture Depreciation 811 79 General Expenses .. 7,179 15 9 Triennial Expenses .. 3,785 11 11 Compensation for loss of Office 1,139 15 2 129,552 4 10 Investment Reserve Fund .. .. 75,458 o o Amount of Funds on 31st December, 1914 .. .. .. .. 5,033>883 19 ° £6,516,116 o 1 £6,516,116 o 1 * Including Agents' allowances. VALUATION BALANCE-SHEET of thh; GOVERNMENT INSURANCE DEPARTMENT, As at 31st December, 1914, Dr. £ S. d.\ Cv. £ s. d. To Net value of Liabilities (as per Valuation i By Accumulated Funds (as per Consolidated Summary) .. .. .. ■• 4,811,819 o o Revenue Account) .. .. .. 5,033,883 19 o To Surplus .. .. .. .. 222,064 19 o £5,033,883 19 o £5.033.883 19 0

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FOURTH SCHEDULE.

Summary and Valuation of the Policies of the New Zealand Government Life Insurance Department as at 31st December, 1914.

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/ For Assurances: Institute of Actuaries' Hm Table. ! Particulars op the Policies for Valuation. Values J „ 3*% interest •(adjusted to Hm 3 |% basis) ror Immediate Annuities on Lives : British Offices DESCRIPTION OF THE TRANSACTIONS. ' Annuity Tables. 1893, 3% Interest. Number of Sums assured | Office Yearly Net h Sums assured j Office Yearly | Net Net Policies. : and Bonuses. ! Premiums. ; Premiums, i and Bonuses. ' Premiums." j Premiums. Liability. ASSURANCES. , C I r r r r I. —With Participation in Profits. Whole-life Assurances —Uniform Premiums .. .. .. 8,949 3,156, 3*4 62,012 52,721 j 619,159 516,774 1,497,871 Limited, Single, and Commuted Premiums 59 8 3 2 9,3 02 468 385 231,671 1,796 1.462 230,209 Endowment Assurances —Uniform Premiums.. .. .. 28,016 6,443,735 202,331 166,215 3,989, 'Si 1 2,185,663 1,770,783 2,218,398 Limited, Single, and Commuted Premiums .. .. .. .. 238 7 8 >35° 1,801 I.43 1 4°,333 - J7-79 1 I 3,93° : 26,403 With Extra Profits.. .. .. 97 2 °>433 8 9 2 756 12,273; 12,869 10,879 i T ,394 Double Endowment Assurances— Uniform Premiums .. .. 10,140 2,692,249 73,535 62,380 1,262,850 941,777 789,984 472,866 „ „ Limited, Single, and Commuted Premiums .. .. 21 2,121 .. .. 1,456 j .. .. J ,456 Deferred Endowment Assurances —with return of Premiums .. 34 6,150 113 93 I 2 4 2 .. ■• 2 4 2 Joint Life—Whole-life Assurances .. .. .. .. 18 8,702 360 288 4,94°! 4,34 2 3,449; r -49 T Survivorship Assurances .. .. .. .. .. 2 562 8 5 90 86 58 , 32 i I l8 > 8 °5 I Annuity Assurances .. .. .. .. .- 74 Hand deferred \ 923 848 22,439 9,823 9,059 I3,3 8 ° (annuity, £3,821 J Reserve for extra Premiums .. .. .. • ■ • • - - - ■ • • 8o 7 • • •-_ 3,116,378 4,464,549 Additional Reserve of Loading .. .. .. •• 11 i u U - -■ ■■ Deduct 5,974 Add 5,974 Total Assurances with Profits .. .. .. 4 8 > r8 7 __ I2 ,756,7 2 3 34 2 ,443 285.122 7,580,927 3,793,306 4,470,523 II.—'Without Participation in Profits. Whole-life Assurances - Uniform Premiums .. .. .. i, 8 9 8 698,455 16,264 15,496 279.440 270,853 257,624 21,816 Limited, Single, and Commuted Premiums 3 1,500 ] 72 70 724 522 505 219 Endowment Assurances— Uniform Premiums .. .. 3 ID 8 9,3 62 2,768 2,518 43,283 | 41,878 38,083 5, 2 °° Deferred W T hole-life Assurances —with return of Premiums .. ° 2 S 0 ,^ 0 2 37 215 246 .. .. 246 Deferred Endowment Assurances „ „ .. 246 53,3°° 779 69T 1,281 .. .. 1,281 Joint Life—Whole-life Assurances .. .. .. .. x | 500 22 19 275 278 246 29 Survivorship Assurances .. .. .. .. .. 4 4,000 ■ 64 53 364 ; 371 306 58 Industrial Assurances .. .. .. .. .. 3 : 60 1 .. 28 : .. .. 28 Temporary Assurances .. .. .. .. .. 2f _| 4,75° , 60 „ j 42 ._ 1 _ „ 42 Total Assurances without Profits .. .. 2,549 | 882,077 20,(267 19,062 325,683 3!3,90 2 2 96,7 6 4 28,919 Total Assurances .. .. .. .. 5°,736 j 13,638,800 362,710 304,184 7,906,610 4,107,208 3,407,168 4,499,442 3,iio,40jt I 4,470,523 257,624 21,816 505 219 38,083 0,200 246 1,281 246 29 306 58 .. 28 • Adjustment to place as isurance reserves on Hm 3i°/sbasis ... 108,000 - rtuiusiuLcui it, utrft-c as tsurante reserves oil o". 33370 oasis ... ±w ,wv ENDOWMENTS. ■ g nT 4,°°/ ,4-l 2 Simple Endowments —with return of Premiums .. ... 822 118,175 4,4 2 5 ■■ 36,456 .. ,6,456 Endowments —Premiums cease on death of purchaser.. ,. 316 i 40,100 1.582 .. 10,250 .. 10^250 Total Endowments .. .. .. .. '1,138 '758,275 67007 -—--;----- ggajr "" .. .". 46^706 13,638,800 * Adjustment t 3 62 ,7 IQ to place as 3°4> l8 4 || 7,go6,6io j 4,107,208 surance reserves on Hm 3J -,' ' ■ - 4 2 296,764 28,919 3,407,168 4,499,442 % basis ... 108,000 4,607,442 10,250 46,706 118,175 40,100 4,4 2 5 1,582 . . 10,25° ■■ 46,706 1 i,I3 8 158,275 6,007 ANNUITIES. (Per annum) Immediate .. .. .. .. .. .. 398 : 18,682 .. .. ]j7,5 2 3 -■ •• t57o 2 3 Deferred .. .. .. .. .. .. r 20 6 .. 148 .. .. 148 Total Annuities .. .. .. .. 399 18,702 6 .. 157,671 .. .. 157,671 Total of the Results .. .. .. 52,273 13,797,075 368,723 304,184 8,110.987 4,107,208 3,407,168 ' 4,811.819 and £22,523 ; and £2,070 per annum. |estra premium 6 6 i . 148 — 148 157,671 399 18,702 ■■ i3,797.°75 and £22,523 per annum. 368,723 f ; and £2,070 \ !extra premium: ! (not valued). ; 304,184 8,110,987 4,107,208 j 3,407,168 ' 4,811.819 I - ; ! (not valued). |i ; | 1 Ii

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13

FOURTH SCHEDULE.

VII. 1 liabilities of the Department under life policies and annuities at the date of the valuation, showing the number of policies, the amount assured, and the amount of premiums payable annually under each class of policies, both with and without participation in profits, will be found in detail in the Valuation Summary, given on page 6. 2. The net liabilities and assets of the Department, with the amount of surplus, are shown in the Valuation Balance-sheet given on page 5. VIII. All participating policies which were in force at the date of the valuation, however recently effected, share in the profits. The reversionary bonuses allotted to policies recently issued follow the sum assured— i.e., they vest immediately, and are payable with the sum assured as a claim, however short the duration ; but they do not acquire a cash value for surrender purposes until the policies to which they belong have been two years in existence. IX. The results of the valuation are as follows : — (1.) The total amount of profit made by the Department during the three years ending the 81st December, 1914, including a balance of €8,965 lis. 9d. carried forward three years ago, was £239,116 19s. Od., of which amount £17,052 has been paid as interim bonuses during the triennium. (2.) The amount of profit divided among the policyholders as at the 31st December, 1914, was £213,008, which has been converted into reversionary bonuses amounting to €338,760. The number of policies which participated was 48,187, assuring the sum of €11,510,130, or, including reversionary additions, €12,756,723. (3.) The following are specimens of the bonuses which have been allotted, for the three years ending the 31st December, 1914, to policies for €100 upon which all previously allotted bonuses had been allowed to remain : —

Whole Life.

The cash values of the reversionary bonuses are computed by the H M Table of Mortality, with interest at 4i per cent. PERCY MUTER, Actuary. 21st May, 1915.

AGE AT ENTRY, Number 20. Years in , Force. Keversionaryj Cash Bonus. Value. mbe of irsii }ree. ao »5 30 35 AGE AT ENTRY, AGE AT ENTRY, AGE AT ENTRY, AGE AT ENTRY, 9r 20. 30. 40. 50. Number n 1 Years in • Reversionary! Cash Reversionary! Cash Keversionary! Cash Reversionary] Cash Force. Bonus. Value. Bonus. Value. Bonus. Value. Bonus. Value. I ; , ! 1 £ s. i. \ £ s. i. £ s. d. £ s. i. £ s. d. £ s. d. £ s. d. £ s. d. 3 14 OI54 3140 I 12 8 3140 220 3140 2 II 2 20 42O I 12 2 410,206 3 19 O 2 9 8 3 l8 O 2 l8 10 25 460 Il8o 420266 420!2l6 9 44O 3 76 30 4 10 o i 2 5 o 4 9 o i 2 16 o 4 8 9 j 3 6 4 470 313 7 35 Endowment Assurance. —Term 20 Years. 5 10 15 ao 340 1 14 5 34° 1 14 11 3401 15 9 340(11711 5 380 249 380 251 380262 3 8 o ! 2 7 i 10 3 11 o 2 17 1 3 11 o 2 17 4 3 11 o 2 17 9 3 11 o 2 18 4 15 3 14 0 314 o 3 14 o 3 14 o 3 14 o ' 3 14 o 3 14 o 3 14 o 20

15

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REP O H T BY THR In terms of Section 37 of the Government Life Insurance Act, 1908. (See Fifth Schedule.) STATEMENT OF THE LIFE ASSURANCE AND ANNUITY BUSINESS OF THE GOVERNMENT INSURANCE DEPARTMENT ON THE 81ST DECEMBER 11)14.

■■ i ■oMWQQQfIwa— —. Question 1. —The published table or tables of premiums which are in use at the date above mentioned. Answer. —The tables of premiums in use are contained in Appendix No. 1. Question 2. —The total amount assured on lives for the whole term of life which are in existence at the date above mentioned, distinguishing the portions assured with and without profits, stating separately the total reversionary bonuses, and specifying the sums assured for each year of life, from the youngest to the oldest ages. Question 3.—The amount of premiums receivable annually for each year of life, after deducting the abatements made by the application of bonuses in respect of the respective assurances mentioned under heading No. 2, distinguishing ordinary from extra premiums. Answer to Questions 2 and 3.—This information is contained in Appendices Nos. 2, 8, and 9, and similar information in respect of other policies is given in Appendices Nos. 3, 4, 5, 6, 7, and 10.

4—H. 8.

H.--8

16

FIFTH SCHEDULE.

Question 4.—The total amount assured under classes of assurance business other than for the whole term of life, distinguishing the sums assured under each class, and stating separately the amount assured, with and without profits, and the total amount of reversionary bonuses. Question 5.—The amount of premiums receivable annually in respect of each such special class of assurances mentioned under heading No. 1 distinguishing ordinary from extra premiums. Question (5.—The total amount of premiums which has been received from the commencement upon all policies under each special class mentioned under heading No. 4, which are in force at the date above mentioned. Answers to Questions 4, 5, and 6 are contained in the following table : —

Annual 'itEMIUMH. Class of Assurance. Sums assured. Beversionary Bonuses. Total Ordinary Premiums receivod. Ordinary. Extra. With Profits. 24.313 £ S. d. £ s. d. £ s. d. £ s. d. £ *• *■ Endowment Assurances 4,851,492 o o 435,457 15 ° 17 0 .535 3 1 479 10 3 1,907,217 7 5 Long-term Endowment Assurances 3.941 1,180,357 o o 54.77 8 9 0 33,6i9 3 9 252 15 6 245,065 o 11 Double Endowment Assurances 10,161 2,644,762 o o 49,608 6 o 73.534 9 3 1 5 8 456,714 6 9 Endowment Assurances with extra profits 97 20,300 o o 133 10 o 892 1 2,150 3 5 Deferred Endowment Assurances with extra profits 34 6,150 o o 113 6 8 273 1 1 Joint Assurances 18 8,35° o o 351 11 o 36o 5 2 7 15 o 2 ,51 4 Survivorship Assurances 2 540 o o 21 II o 8 4 7 78 5 1 Annuity Assurances 74 17,195 o o* 1,609 15 0 9 2 3 5 7t 11,216 10 if Endowments: With return 754 110,425 o o 4,192 5 10 26,816 5 8 Endowments : Premiums ceasing on death of purchaser 316 40,100 o o 1,581 17 5 10,708 12 2 Without Profits. 89,150 o o 2,761 19 5 6,168 5 6 Endowment Assurances 3°9 Endowment Assurances (transferred from Temperance Section) 1 200 o o 11 17 o 5 17 o 90 13 6 Joint Assurances 500 o o 21 13 4 43 6 8 i Survivorship Assurances 4 4, 000 o o 63 n 8 "7 3 4 Deferred Endowment Assurances 246 53,300 o o 779 1 4 1,358 8 10 Endowments: With return 68 7,750 o o 232 6 8 4,261 6 6 Industrial Assurances 3 60 o o 160 41 11 11 Temporary Assurances 22 4.75o o o 59 10 8 86 o o 167 7 7 Totals 40,364 £9,039,381 0 0 £541,972 14 0 £289,685 16 6 £827 6 5 £2,675,012 0 9 * And defer; f These ami red annuities for £3,821 12s. 4d. ounts are also given under " Deferred Annuiti ies " in answer tc Question 8. Question 7. —The tota ,1 amount of immediate annuities on 1 lives, distiti ;uishing the amounts for ea ich year of life.

ft.—B.

FIFTH SCHEDULE.

ANSWER TO QUESTION 7. Total Amount of Immediate Annuities on Lives, distinguishing the Sex, and the Amounts for each Year of Life.

17

Age attained. Amount ok Annuities. Female. Male. 29 30 3 8 40 41 43 44 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 91 92 £ »■ d. 52 o o 44 5 o 6 10 o 25 16 8 100 o o no 17 o £ s. d. 100 o o 10 o o 20 19 4 2 9 3 4 49 1 4 IOO o o 90 IO o 92 8 4 378 1 10 32 7 8 100 o o 600 65 16 8 5'2 o o 308 14 o 48 o o 277 7 2 141 I o 17 5 10 196 o 4 106 1 6 34 1 8 1,314 16 o 211 I IO 430 1 8 425 T I0 52 o o 379 18 8 272 1 6 255 o o 493 11 4 823 1 2 557 4 6 324 12 6 537 14 9 495 I 6 234 8 o 226 5 4 785 13 2 86 1 3 548 6 6 179 4 4 152 5 5 342 12 o 139 13 4 346 5 10 98 7 4 18 4 o 31 11 8 242 5 o 90 4 8 49 5 8 76 10 o IOI IO o 37° M 2 72 7 2 96 12 8 280 19 4 47 15 8 370 10 4 218 12 o 410 2 6 56 16 8 435 o 4 30 o o 200 15 o 159 2 2 333 17 8 96 8 o 51 8 10 84 8 o 130 0 o 577 r 7 4 50 13 4 155 13 4 74"'1 8 69 13 o 50 O O 49 o 5 300 o o 75 7 4 Totals £5,850 19 2 £11,911 7 2 Joint and Survivorship. Ages attained, Female. Male. Amount of Annuity. 66-62 68-67 70-64 73-66 75-66 75-41 79-77 80-74 81-77 87-72 I I 1 I 1 I I I 3 3 2 £ s. d. 200 o o 5 2 19 4 75 o o 64 10 8 113 1 8 1000 88 3 o 80 1 8 193 1 0 42 9 8 3 3 2 2 1 1 2 2 Total .. 17 15 £919 7 0 15

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18

FIFTH SCHEDULE. Question B.—The amount of all annuities other than those specified under heading No. 7, distinguishing the amount of annuities payable under each class, the amount of premiums annually receivable, and the amount of consideration-money received in respect of each such class, and the total amount of premiums received from the commencement upon all deferred annuities.

ANSWER TO QUESTION 8. The Amounts of all Annuities other than those specified under Heading No. 7.

Question 9. —The average rate of interest at which the funds of the Department were invested at the close of each year during the period since the last investigation. Answer. —At the close of each financial year the average rate of interest at which the funds of the Department were invested for that year, after deducting mortgage and other taxes, was as follows : — £ ■■ d. 1912 ... ... ... 4 7 11 1913 ... ... ... 4 8 10 1914 ... ... ... 4 10 7 Question 10. —A table of minimum values, if any, allowed for the surrender of policies for the whole term of life, and for endowments and endowment assurances; or a statement of the method pursued in calculating such surrender values, with instances of its application to policies of different standing, and taken out at various interval ages, from the youngest to the eldest. Answer. —The minimum surrender values for whole-life and endowment assurance policies issued at the present rates of premium are given in Appendix No. 11. In the case of simple endowments, with return of all premiums at death of nominee, the premiums are returned without interest, as surrender value. Other endowments and children's deferred assurances are treated specially.

Class of Annuity. Amount ol Annuities. Annual Premiums. Single Premiums. Total Premiums received to 31st December, 1914. \ £ s - d - 606 £ ■■ d. £ *• d - 102 8 6 Deferred (Premiums returnable) .. £ s. d. .. I 20 o o Deferred (Annuity Assurances)* 1,948 15 8 475 16 2 149 15 10 6,033 13 5* Deferred (Annuity Assurances)! 1,872 16 8 447 9 5 29 14 o 5,182 16 8} Totals .. £3,841 12 4 £929 6 1 £179 9 10 £11,318 18 7 * And temporary assurances for £9,798. tuestions s am! 6. t Ami whoie-life assurance! also given In answer r< for £7,397i These amounts are

19

H.—B

FIFTH SCHEDULE.

Question 11,—A statement to be furnished of the manner in which policies on unhealthy lives are dealt with. Answer. —"When proposals are made on- lives which, although not of such inferior quality as to merit total rejection, are considered not to reach the requisite standard for insurance at the ordinary rates of premium, such proposals are accepted at increased rates. Great refinement is not attempted in the assessment of lives, proposals being as a rule either accepted at par, with an extra premium of 10s. per cent, of the sum assured, an extra of 20s. per cent., or declined. The alternative of a fixed contingent debt in lieu of extra premium, if not remissible, is always offered. The true age is taken as the basis of surrender calculations, except in the cases of paid-up policies, the surrender values of which are calculated at the rated-up ages. The Appendices alluded to above have been compiled under the immediate supervision of Mr. Percy Muter, the Actuary to the Department. J. H. RICHARDSON, Government Insurance Commissioner. 21st May, 1915.

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FIFTH

Appendix No. 1. THE PUBLISHED TABLES OF PREMIUMS

Class of Assurance, with Partici in Profits. 0 -a u 1 *! I £ l£ U, A I Annual premium during 1 v the whole term c B I Single payments .. 30 rt Q.-ti S --S I Annual premiums,— <i o £ Bio Limited to 10 years .. 4 B 15 „ 15 „ ..2 g . B 20 „ 20 „ .. 2 !§s B25 „ 25 ,. .. 2 o o- J> B 30 „ 30 .. 1 c "> "i B 35 „ 35 „ .. 1 W -• d. 1 11 3 30 7 o Age 15. C s. d 1 11 3 7 < 1 1 I i ig c '- 9 - > 2 1) [ ig c : 16 i £ s - d. 1 12 2 131 1 o Age 16. / ■■ d. i 13 i 131 15 o Age 17. S. d. I 14 o 32 8 o Age nearest Birthda; Age Age Age 18. 19. 20. £ 8. d.| 1 14 ioj 33 o o £ s - d - ': 1 15 7 33 12 o £ ■■ d. 1 16 5 34 3 o Age 21. Age Age Age 22. 28. 24. £ s. d £ s. d. £ s. d. 1 17 2 1 18 o 1 18 11 34 14 035 5 035 17 o 4 1 8 2 19 g 291 2 2 11 1 ig o 1 16 4 4 3 6 3 1 1 2 10 3 2 3 11 1 19 11 1 17 2 4 5 4 3 2 6 2 II 4 2 4 II 2 O IO I l8 I 4 7 1 3 3 9 2 12 5 2 5 II 2 I g 1 ig o 4 » 7 3 4 11 2 13 5 269 227 1 19 9 4 9 10 3 5 11 2 14 2 276 2 3 3 205 4 11 -1 3 7 0 2 15 2 284 240 212 4 12 6 4 13 10 4 15 4 3 7 10 3 8 10 3 10 o 2 15 11 2 16 9 2 17 8 290 2 992 10 8 248254262 219226233 Annual Premiums, — Payable for 10 years .. 9 9 9 1 8 10 3 7 14 8 7 1 6 6 10 3 ) 9 1 998 8 10 10 7 15 2 720 6 10 9 9 10 4 8 11 5 7 15 9 727 6 11 4 9 11 6 8 12 7 7 16 11 7 3 8 6 12 4 9 11 7 8 12 9 7 17 o 7 3 10 6 12 6 9 11 8 g 11 g 9 11 10 8 12 9 8 12 10 8 12 11 7 17 1 7 17 2 7 17 4 73 11 74074 1 6 12 7 6 12 8 6 12 10 £ „ 11 „ .. 8 12 „ .. 7 I . 13 ... 7 ■S „ 14 „ .. 6 a p jS « 15 „ .. 6 Z » 16 „ .. 5 •5 . 17 „ .. 5 -g . 18 , ..4 - . 19 ... 4 c OJ „ 20 „ . . 4 rt 5 g' , 21 „ .. 4 "S 'C » 22 „ .. 3 rt B »J o » 2 3 „ .. 3 oS 2--: . -24 . ..3 •a v rt u "3 o a u !D A o S <D QJ £ -i " O <3J rt I 0 B rt u 5 Ui < g s 6 6 o 6 5 12 1 5 4 8 4 18 1 4 12 3 4 7 1 4 2 5 3 18 2 3 14 4 3 10 11 i 10 ; ' 14 I • 1 c ) 10 5 1 o fj ; 12 1 4 S 18 1 12 3 7 1 2 5 18 2 14 4 10 11 610 5 12 7 5 5 2 4 18 7 4 12 9 4 7 7 4 2 11 3 18 8 3 14 10 3 11 4 617 5 13 1 5 5 8 4 19 1 4 13 3 4 8 1 4 3 5 3 19 2 3 15 4 3 II 10 g 10 11 8 12 o 7 16 3 7 3 1 6 11 g 620 5 13 7 562 4 19 7 4 13 9 486 4 3 10 3 19 7 3 15 9 3 12 4 9 n 3 8 12 4 7 16 8 7 3 5 6122 6 2 5 5 13 11 566 4 19 11 4 14 1 4 8 10 442 400 3 16 2 3 12 8 628 5 14 2 5 6 g 502 4 14 4 4 9 1 4 4 5 403 3 16 5 3 12 11 629 5 H 4 5 6 11 504 4 14 6 4 9 4 4 4 8 405 3 16 7 3 13 2 62 11 630632 5 14 5 5 14 7 5 14 9 570572574 50650750 10 4 14 8 4 14 10 4 15 o 4964g84gio 44 10 450452 4074094 1 o 3 16 10 3 17 0 3 17 2 3 13 4 3 13 6 3 13 9! "~ r- £$ . 25 „ .. 3 S'S . 26 „ .. 3 % a „ 27 „ .. 3 £0 . 28 „ .. 2 c 3 7 8 3 4 10 322 2 ig g 217 6 7 8 4 10 2 2 19 9 3 8 2 3 5 4 3 2 I 303 2 18 o 3 8 8 3 5 10 3 3 2 308 2 18 6 3 9 2 363 3 3 7 3 1 2 2 18 11 3 9 6 367 3 4° 316 2 19 4 3 9 9 3 6 11 3 4 3 3 1 10 2 19 7 3 10 o 3 7 1 3 4 6 3 2 1 2 19 IO 3 10 2 3 10 5 3 10 81 374377 3 7 10 34 8 34ii35 2 32432632 10 301304308 29 „ ..2 17 6 (/5 8 » 30 „ .. 2 I . 31 . •• 2 a » 3a ... 2 8 » 33 . •■ 2 < « 34 „ .. 2 2 15 5 2 13 6 2 11 g 2 10 1 287 15 5 13 6 11 g 10 1 8 7 2 15 11 2 14 o 2 12 3 2 10 7 291 2 16 5 2 14 6 2 12 g 2 11 1 2 16 10 2 14 11 2 13 2 2 11 7 2 IO I 2 17 3 2 15 4 2 13 7 2 12 O 2 IO 6 2 17 7 2 15 8 2 13 11 2 12 4 2 10 10 2 17 IO 2 15 II 2 14 2 2 12 7 2 II I 2 18 1 2 18 4 2 18 8 2 16 2 2 16 6 2 16 9 2 14 6 2 14 9 2 15 1 2 12 10 2 13 2 2 13 6 2 11 5 2 11 9 2 12 1 2 9 7 1 . 35 . -. 2 36 „ .. 2 rg . 37 - •■ 2 a 38 . .. 2 w . 39 . •• 2 » 40 „ .. 2 272 2 5 10 247 2 3 6 225 2 1 5 7 2 5 10 4 7 3 6 2 5 1 5 278 264 2 5 1 240 2 2 II 2 2 0 282 2 6 10 2 5 8 246 236 2 2 6 288 274 262 2 g 1 279 267 256 246 2 3 6 2 95 2 8 2 270 2 5 10 2 4 10 2 3 11 2 9 9 286 2 7 4 263 2 5 3 244 2 10 1 2 10 5 2 10 9 2 8102 9 22 96 278280285 2 6 72 7 4 257260265 2 4 8 2 5 i' 2 5 7 250 240 2 3 I

21

H.—B,

SCHEDULE.

Which were in Use on the 31st December, 1914

Age nearest Birthday. Age Age Age 25. 26. 27. Age 28. Age 29. Age Age Age 30. 31. 32. Age Age 88. 34. Age 35. i Age Age m. 37. I £ s. d. 243 j 1 A '■£ s. d, £ s. d. £ s. d. I 19 II 2 Oil 2 2 0 £ •■ d, 2 3 1 £ s - d - £ s - d - £ s - d. 255268280 £ ■■ d. £ s. d. 2 g 4 2 10 10 £ s. d.i 2 12 4; ! £ s. d. £ s. d. 2 14 o 2 15 8 A Bs 36 10 037 3 037 16 o 38 10 o 39 4 o 39 19 040 13 041 8 o 42 4 042 ig o 43 16 o 44 12 045 g o Bs B 10 B15 B20 B25 B 30 B35 • 4 17 04 18 75 o 3 3 11 3 3 12 5 3 13 9 2 18 9 2 ig g 3 o 10 2 n 7 2 12 6 2 13 6 27128028 n 242250260 5 1 11 3 15 o 3 1 ti 2 14 6 2 9 10 2 6 11 5 3 8 3 16 4 3 3 1 2 15 7 2 10 11 2 7 n 55457 2| 591 3 17 7 3 19 04 o 5 342354368 2 16 7 2 17 8 2 18 10 2 n 10 2 12 11 2 14 1 2 811 2 10 0211 1 5 10 11 5 13 o 4 1 10 4 3 5 3 7 10 3 9 3 300314 2 15 22 16 6 2 12 3 2 13 7 5 15 o 4 5o 3 10 7 327 2 17 9 2 14 10 5 17 2 5 ig 3 468484 3 12 2 3 13 '7 340354 2 19 2 3 0 7 2 16 3 2 17 9 B 10 B15 B20 B25 B30 B35 Term of Years. 10 9 12 o g 12 3I 8 13 I, 8 13 4 7 17 6; 7 17 9 7 4 4 1 7 4 6 6 13 ii 6 13 4 9 13 o 8 14 2 7 18 6 7 5 5 6 14 2 9 13 3 9 13 6 g 13 9 8 14 5 8 14 8 8 15 o 7 r8 10 7 19 1 7 19 4 7 5 87 5117 6 3 6 14 6 6 14 9 6 15 1 9 14 o 9 14 4 8 15 3 8 15 7 7 ig 8 8 o o 7 6 67 6 11 6 15 5 6 15 9 9 H 8 8 15 11 8 o 4 7 7 3 6 16 1 Term of Yoars. 11 12 9 12 6 8 13 7 7 18 o 7 4 10 6 13 7 9 12 9 8 13 11 7 18 3 7 5 1 6 13 11 9 15 o g 15 4 8 16 3 8 16 7 8 o g 8 1 1 778781 6 16 6 6 16 11 10 11 12 13 '4 13 '4 15 16 17 18 635638 5 14 11 5 15 3 5 7 7 5 7 10 5 1 1 5 1 4 4 15 3 4 15 6 6 3 n 5 15 6 5 8 2 5 1 8 4 15 10 6 4 3 5 15 10 5 8 5 5 1 11 4 16 2 646 5 16 1 5 8 9 523 4 16 6 64 10 65165 5 5 16 5 5 16 9 5 17 1 591595599 52752 11 533 4 16 10 4 17 2 4 17 7 65966 1 5 17 5 5 17 10 5 10 1 5 10 6 538541 4 18 o 4 18 5 6 6 6 5 18 3 5 10 11 5 4 7 4 18 11 6 6 11 6 7 5 5 18 8 5 ig 2 5 11 5 5 11 11 5 5 15 5 7 4 19 5 5 o o 15 16 17 18 19 ■ 19 20 21 22 4 10 I- 4 10 5 4 5 5 4 5 9 4 1 3 4 1 7 3 17 63 17 10 3 14 1 3 14 5 4 10 8 461 4 in 3 18 2 3 14 9 4 11 o 465 423 3 18 6 3 15 2 4 11 5 469 428 3 18 11 3 15 7 4 n 9 4 12 1 4 12 6 47247647 11 43043543 10 3 19 43 19 94 ° 2 3 16 o 3 16 5 3 16 10 4 12 11 4 13 5 4 8 54 8 10 4 4 4 4 4 10 4084 1 2 3 17 4 3 17 11 4 13 11 4 9 5 4 5 4 4 1 9 3 18 6 4 14 5 4 15 o 4 9 11 4 10 7 4 5 11 4 6 7 424430 3 19 23 19 10 20 21 22 23 24 23 24 25 26 27 28 3 10 11 3 11 4 381386 3 5635 11 332336 3 1 Oj 3 1 5 3 11 8 3 8 10 364 3 3 11 3 1 10 3 12 1 3 9 3 369 3 4 5 323 3 12 6 3 9 8 3 7 2 3 4 10 329 3 12 ii; 3 13 4 3 13 10 3 10 2 3 10 7 3 11 2 378382388 35435 10 365 333339344 3 14 4 3 14 11 3 11 3 3 12 3 3 9 3 3 9 10 370378 3 5 0358 3 15 7 3 12 11 310 6 3 8 4 3 6 5 3 16 3 3 17 o 3 13 8 3 14 5 3 11 3 3 12 1 3 9 23 g 11 372381 25 26 27 28 29 29 30 31 32 33 34 2 19 o 2 19 5 2 17 2 2 17 7 2 15 6 2 15 n 2 13 11 2 14 5 2 12 6 2 13 o 2 19 10 2 18 1 2 16 5 2 14 n 2 13 6 304 2 18 6 2 16 II 2 15 5 2 14 O 3 o 10 2 19 1 2 17 5 2 16 o 3 1 4 3 1 11 3 2 6 2 19 73 o 23 010 2 18 o 2 18 7 2 19 3 2 16 7 2 17 2 2 17 10 2 15 3 2 15 11 2 16 7 3 3 2 3 3 10 316323 300309 2 18 7 2 19 5 2 17 4 2 18 2 3 4 7 3 1 o 3 1 7 303 2 ig 1 356364 3 3 11 3 4 10 326336 313323 3 o 1 3 1 2 30 31 32 33 34 2 14 7 35 36 37 38 39 40 2 11 2 2 11 8 2 10 o 2 10 6 2 8 11 2 9 5 2 7 10 2 8 5 2 6 11 2 7 6 261268 I 2 12 3 2 II I 2 IO O 2 9 0 2 8 I 274 2 12 9 2 II 8 2 10 7 2 g 8 2 8 g 280 2 13 5 2 12 3 2 11 3 2 10 4 2 9 6 288 2 14 o 2 14 8 2 15 5 2 12 n 2 13 8 2 14 5 2 11 n 2 12 82 13 5 2 11 o 2 n 9 2 12 7 2 10 2 2 11 o 2 11 10 2 9 62 10 32 n 2 2 16 3 2 17 I 2 15 3 2 16 I 2 H 4 2 15 3 2 13 6 2 14 6 2 12 9 2 13 9 2 12 I 2 13 2 2 18 1 2 17 1 2 16 3 2 15 6 2 14 10 2 14 3 2 19 13 o 2 2 18 2 2 19 3 2 17 4 2 18 6 2 16 8 2 17 10 2 16 o 2 17 3 2 15 6 2 16 9 35 36 37 38 39 40 I

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22

FIFTH

Appendix No. 1—continued., THE PUBLISHED TABLES OF PREMIUMS

4 t Birthday. A Age Age 40. 41. ige nearesl Class of Assurance, with Participation in Profits. Age 38. Age 39. Age 42. Age Age Age 43. 44. 45. T Age 47. 0 S u H rt o I, ii St A Annual premium during u "§ whole term 1 jj\a B s Single payments 2 B.| S --a Annual premiums,— «j o *J Bio Limited to 10 years .. g' 5 « 15 . •• g . . B 20 „ 20 „ I gcg B25 „ 25 . .. •|i.8> **> . 30 . •• a Si rt B 35 „ 35 » W S. d. 2 17 5 46 6 o 6 1 6 £ »■ d. 2 19 3 47 4 o 6 3 8 4 II 10 3 16 8 3 8 4 3 3 7 3 o 10 £ S. d. £ S. d. 3 13 3 3 4 48 2 O 49 I O 661686 4 13 9 4 15 8 3 18 54 o 2 3 10 o 3 11 9 3 5 3 3 7 0 327 £ B. d. 3 5 7 50 o o 6 n 1 4 17 9 420 3 13 7 3 8 11 £ *. d.j £ s. A. £ s. d. 3 7 111 3 10 63 13 2 51 o 0(52 o 0J53 1 o 6 13 8 6 16 6 6 19 4 4 19 10 5 2 25 4 6 440462484 3 15 6 3 17 8 3 19 10 3 10 10 3 13 1 3 15 4 £ ■■ d. 3 16 o 54 2 o 724 5 6 11 4 10 8 422 £ S. d. 3 19 1 -55 4 o 7 5 6 5 9 7 4 13 2 4 4 9 4 10 1 3 15 1 3 6 10 320 2 19 3 HH Annual Premiums, — Annual Premiums, — Payable for 10 years .. „ n ,, 1 Payable for 10 years .. „ n „ <U 12 ■23 » 14 a a „ 15 „ .. fc „ 16 „ .. " „ 17 Jl . 18 . .. ■i • I9 • •• a 20 21 „ .. -g v.' „ 22 ui ■ 2 3 » •• • 2 « • •• o rs C „ 25 „ .. 8 !S 26 . .. 3 -a 27 „ .. %H „ 28 „ .. 0 t; „ 29 H ° '. » 30 „ Ul J 5) „ 31 „ .. 32 . •• g „ 33 „ .. <n 34 < X „ 35 . .• 1 36 . .. I 37 • •■ 38 , .. "§ 39 . •■ 9 15 8 8 16 11 8 1 6 7 8 5 6 17 5 g 16 0 8 17 4 8 1 11 7 8 n 6 17 10 9 16 59 16 11 8 17 9! 8 18 3 8 2 48 2 n 7 9 5l 7 IO o 6 18 5; 6 19 o 9 17 6 8 18 n 8 3 6 7 10 8 6 19 8 9 18 1 9 18 10 9 19 8 81979049 1 2 8 4 38 5 08 511 7 11 5 7 12 3 7 13 2 706714724 10 O 6, 9 2 1 8 6 10 ,10 1 5 9 3 0 8 y 10 7 15 2 7 4 5 „ 12 13 » •• 14 7 14 1 7 3 4 15 ,. ■■ 16 „ .. 17 » •• 18 „ .. 6 7 10 5 19 8 5 12 5 562 506 685 602 5 13 o 5 6 g 5 ' 2 6 8 n 6 9 7 609615 5 1.3 8 5 14 4 5 7 5 5 8 1 5 1 10 5 2 8 6 10 4 622 5 15 2 5 8 11 5 3 6 6 11 2 6 12 o 6 13 1 63 164065 1 5 16 0 5 17 o 5 18 2 5 9 n 5 10 n 5 12 1 5 4 6 5 5 7 5 6 10 6 14 1 662 5 19 4 5 13 4 5 8 1 6 15 3 6 7 5 607 5 14 8 5 9 6 19 » •• „ 20 „ 21 „ 22 4 15 7 411 2 4 7 3 4 3 9 407 4 16 3 4 II n 480 4 4 6 4 1 5 4 17 04 17 10 4 12 8| 4 13 4 4 8 9' 4 9 8 4 5 4j 4 6 3 4 2 3 1 4 3 3 4 18 9 4 14 6 4 10 8 4 7 4 4 4 4 4 19 9 5 0115 2 2 4 15 7 4 16 9 418 1 4 n 10 4 13 1 4 14 6 4 8 64 910411 3 4 5 7470486 5 3 6 4 19 6 4 15 11 4 12 10 4 10 1 5 5o 5 1 o 4 17 7 4 14 6 4 n 10 23 „ .. 24 „ .. C 25 „ .. 26 „ .. 27 „ .. 28 „ .. 29 „ .. 3 17 9 3 15 2 3 12 n 3 10 10 3 9 0 3 18 7 3 16 1 3 13 10 3 11 10 3 10 o 3 19 6 4 o 7 3 17 1 3 18 2 3 14 10 3 16 o 3 12 11 3 14 1 3 11 1 3 12 4 4 1 8 3 19 4 3 17 3 3 15 4 3 1.3 8 43044546o 408422439 3 18 84 o 24 1 10 3 16 10 3 18 54 o 2 3 15 2 3 16 10 3 18 8 4 7 8 4 5 6 4 3 8 420 407 496 4 7 5 4 5 7 440 428 30 ,, •• 31 « •• 32 » •• 33 » •• 34 „ •• 3 7 4 3 5 10 3 4 6 3 3 4 323 3 8 5 3 6 11 3 5 8 3 4 6 3 3 6 3 9 7 3 10 10 382396 3 6 11 3 8 3 3 5 10 3 7 3 3 4 10 3 6 4 3 I 2 3 3 10 11 3 9 9 3 8 9 3 7 11 3 13 9 3 15 6 3 17 4 3 12 6 3 14 4 3 16 3 3 11 5 3 13 3 3 15 3 3 10 6 3 12 5 3 14 5 3 g 83 n 83 13 9 3 19 4 3 18 1 3 17 5 3 16 8 3 1 4 1 7 4 0 7 3 19 9 ! \ I 35 » •• 36 . •- 37 » •• 38 . ■• 39 » •• 3 1 4 306 2 19 9 2 19 2 2 18 7 3 2 7 3 1 10 3 1 2 307 3 o 1 340356 3 3 3 3 4 10 327343 321339 3 1 7 3 7 2 3 6 6 360 3 9 o 3 11 o 3 8 5 1 1 Age 29. 2 4 5 Age 28. 2 3.3 2 3 5 ! 40 „ .. 2 18 2I I 2 ig 7 Age 33. 297 2 9 II Age Age I su - Age 31- ! 2 5 8 32. 2 6 II; 2 5 IO 283272261 286275265 2 8927926 IO 248 2 4 II 2 5 2 256 2 5 II 2 3 8 2 3 n 2 4 3 248 2 5 1 Age 36. 2 14 3 2 14 7 2 15 O Age 34. Age 2 » ' 35. 2 12 7 2 II 4 2 12 II 2 II 9 2 13 4 2 12 2 2 13 9 2 12 7 2 IO 3 2 IO 7 2 II O 2 II 6 292282273 297287278 2 IO 0291283 2 10 72 9 82 8 10 264 2 6 10 256 261 267 273 Age 38. 2 17 9 Age 37. 2 15 n 2 16 4 2 7 5 280

23

H.—B

SCHEDULE.

Which were in Use on the 31st December, 1914.

5—H. 8.

Age nearest Birthday. Age Age Age Age Age Age Age Age — 48. 49. 50. 51. 52. 53, 54. 55. I I j I £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. A 4 2 3 4 5 7 4 9 2; 4 13 o, 4 17 2 5 1 7 5 6 4 5 n 5 Age 50. Age 57, Age 58. Age 59. I Age 60. .- I . . I . £ s. d.i £ s. d £ s. d. 5 16 Il| 6 2 10 6 9 2 £ s. d. £ s. d. 6 16 1 7 3 7! A Bs 56 5 0I57 7 058 10 0I59 13 o|6o t6 o'62 o 063 4 064 g 0 B 10 ' 7 8 8 7 n 10 7 15 2! 7 18 8 8 2 5I 8 6 3 8 10 3| 8 14 6 B 15 5 12 3 5 15 0 5 17 10 6 o 11 6 4 36 7 9 6 11 5 6 15 3 B 20 4 15 g 4 18 45 1 25 4 35 7 6 5 11 o 5 14 81 5 18 8 B 25 ! 4 7 4 4 10 1 4 13 o B30 B35 65 14 0I66 19 068 4 o 69 10 070 16 O B s 8 19 o 9 3 8 9 8 7 6 19 67 3 II 7 8 6 1 9 13 10 9 19 4 713 6 7 18 II B 10 B15 B20 B25 B30 B35 j Perm of Years. 10 10 2 410 3 410 4 510 5 8I10 7 010 8 7 10 10 310 12 3 n g 4 09 5 ig 6 3; 9 7 6g g ogio 8 9 12 6 9 14 6 12 8 8 n 8 10 o 8 n 3 8 12 8 8 14 3 8 16 o 8 17 n g o o 13 '7 16 3 7 17 6 7 18 g 8 o 38 1 11 8 3 g 8 5 10 8 8 1 14 7 5 77 6 n 7 8 37 9 10 7 n 7 7 13 6 7 15 8 7 18 o 15 6 16 6 6 17 10 6 19 471 07 2 10 7 4 10 7 7 27 9 7 16 6 8 8 6 10 I 6 11 8 6 13 5 6 15 4 6 17 6 6 19 10; 725 17 6 2 06 3 6 6 5 16 6 n 6 8 n 6 11 2 6 13 81 6 16 4 18 5 16 I, 5 17 8 5 19 56 1 46 3 56 5 96 8 4! 6 n 2 19 511 o 5 12 8 5 14 6 5 16 6 5 18 8 6 1 26 3 10! 6 '1 9 Term of Years. 10 14 4 9 16 9 925 8 10 6 808 io 16 8 io 19 311 2 1 ; 9 19 310 1 ii'io 4 n 9 5 09 7 10 9 10 II 8 13 3 8 16 3 8 19 5 8 5 6 8 6 7 8 10 o 11 5 2 10 S 1 9 14 4 930 8 13 9 IO II 12 7 12 41 7 5 3 1 6 ig 4 6 14 3 6 TO o I 7 15 3 7 '8 6; 8 2 1 7 8 4 7 11 9 7 IJ 7 7 2 77 6 2 7 to 1 6 17 8 7 1 57 5 7 6 13 7, 6 17 67 1 9 8 6 1 7 19 8 7 14 5 7 10 1 766 15 16 17 18 19 20 5 6 7i 5 8 4 5 10 3 5 12 3 5 14 7 5 17 2 5 19 11 6 3 o 21 5 2 85 4 65 6 6J 5 8 8 5 n o 5 13 8 5 16 7 5 19 10 22 : 4 19 45 1 25 3 3; 5 5 65 8 o 5 10 g 5 13 10 5 17 2 23 j 4 16 44 18 35 o 55 2 gs 5 45 8 35 11 5j 5 14 11 24 4 13 8 4 15 9 4 17 11 5 o 5 5 3 2 5 6 2 5 9 s| 5 13 o ■ 665 6 3 4 6 o 10 5 i 8 8 6 10 1 6 14 2 6 18 8 6 7 3| 6 1 1 5 6 4 io : 20 25 4 11 5 4 13 6 4 15 10 4 18 5 5 1 3 5 4 5 7 9l 26 4 9 5 4 n 8 4 14 1 4 16 8 4 19 8 5 2 10 27 4 7 9 4 10 o 4 12 6 4 15 3 4 18 3 28 4 6 3 4 8 7 4 11 2 4 14 1 1 29 4 5 o 4 7 5 4 10 1 ; ; • Ag e 30 . 4 3.1 4 6 5 - " Age x «| J I *3 9 31 4 3 ° Age 2I. I 17 41 16 8 1 16 o 24. I 18 2! I 17 6 I 16 IO I 16 2 ARe 1 ig 1 1 18 4 1 17 81 1 17 ol 1 i(> 4 A 26. 2 o o 1 19 3 1 18 6 1 17 IO 1 17 2| 1 16 7 27. 2 I o 2 o 2 1 19 5 1 18 8 1 18 1 I 17 5I I 16 10 52 2 2 12 I 32 o 5 1 19 7 1 18 11 1 18 4 I 17 9j 1 17 2 51 2242 1 5 2 o 7 1 19 10 1 19 2 1 18 7 1 18 oj 1 17 5 50 2262 1 8 2 o 10 2 o 2 1 19 6 1 18 11 1 18 4! 1 17 10 Ago Age K'Age "• l I2 3 18. I 13 2 I 12 4 1 14 I 1 13 3 I 12 6 I 14 2 I 13 5 I 12 7 Age 15. I II 4 1 11 5 1 n 7 1 11 8 64 63 62 61 60 Age 19. 1 14 n I 11 10 1 15 o 1 15 2 1 15 4 1 15 6 1 15 9 I 14 4. 1 13 6 1 12 9 1 14 5 1 13 8 1 12 11 1 14 8 1 1 13 11 1 13 2 1 14 10 1 14 I I 13 4 I 15 I: I 14 41 13 7 1 12 o 1 12 2 1 12 5 1 12 8 59 5 8 57 56 55 1 12 n 1 16 o 1 16 3 116 7 1 16 n 1 17 3 1 15 4 1 14 7 1 13 11 1 15 7 1 14 11 1 14 3 1 15 11 1 15 3 1 14 7 1 16 3 1 15 7 1 14 11 1 16 8 1 16 o 1 15 4 1 13 3 1 13 6 1 13 11 1 14 3 1 14 g 54 53 52 51 50 49 2 2 10 2 1 11 2 1 22 o 6 1 19 iO; 1 19 3 1 18 g 1 1 18 2 48 I 2 3 12 2 32 1 62 0102 o 3| 1 19 81 ig 21 18 8 47 2 3 52 2 821112 132 082 oil 19 71 19 I 46 2 3 10 2 3 12 242 1 82 1 1 20720 i|iig8 45 243236 2 2 IO 2 222 I 82 I 220 8l 2 03 44 2 4 92 402 3 42 2 92 2 22 I 92 I 32 0 10 43 2532472311234221022421112 16 42 25 II 253247 2 4 0236231228223 41 2 6 72 5112 5 42 4 9 24 32 3 10 2 3 52 3 1 1 17 8 1 18 1 1 18 7 1 ig 2 1 19 9 1 17 1 1 16 51 1 15 io| 1 17 7 1 16 n ! 1 16 4I 1 18 1 1 17 5' 1 16 10 1 18 7 1 18 o 1 17 5 1 19 2 1 18 8 1 18 o 1 15 2 1 15 8 1 16 3 1 16 10 49 48 47 46 45 1 17 5 2 o 4 "2 1 1 i 19 10 1 ig 3 1 18 8 2 o 7 2 0 o 1 19 5 2 1 4209203 22221721 1 1 18 1 i 18 10 1 ig 8 206 44 43 42 41 2 110 228

FT.—B

24

FIFTH

Appendix No. 1—continued. THE PUBLISHED TABLES OF PREMIUMS

JU11V 1 L1VCO. Temporary Annual Premiums required to secure £100, payable on the failure of either Life. (With Profits.) ASSURANCES. u +3 tu in DtFFF.RF.NCK HF.TWF.KN A (IK OF F.T.DKll AN11 YOUNGER JjIFK. £5-0 wow i »3ffl 0 Years, j 2 Years. , 4 Years. 6 Years. 8 Years. 10 Years. .rt Premium to be paid for assuring £100 on a Single Life. ( Without Profits.) <j / s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 20 2 14 ii 2 16 1 2 17 4 2 18 10 307 326 21 2160 2172 2187 302 320 340 22 2 17 2 '. 2 18 -4 2 19 10 316 335 35 6 23 . 2 18 3 ! 2 19 7 3 r 2 3 2 11 3 4 11 37 1 24 2 19 6 3011 327 345 366 389 25 3 o 11 325 342 360 382 3 10 7 26 3 2 4 3 3 n 359 379 3 '° ° 3 12 <> 27 3 3 11 3 5 7 3 7 5 3 9 6 3 1 1 10 3 14 7 28 3 5 6 3 7 3;392 3 n 4 3 13 I0 3 16 8 29 372 390 3 11 o 3 13 4 3 15 11 3 18 10 30 3 8 11 3 10 9 3 12 11 3 15 4 3 '8 1 412 31 3 10 8 . 3 12 8 3 14 11 3 17 5 404 438 32 3 12 7 j 3 14 8 3 17 o 3 19 8 429 463 33 , 3 14 6 i 3 16 9 3 19 ■■'■ 1420 453 490 34 , 3 16 7 3 18 11 ' 4 1 6 I 4 4 6 4 7 11 4 12 o 35 3 18 10 j 4 1 3 4 4 o 4 7 1 4 10 10 4 15 2 36 ! 4 1 2 ' 4 3 8 4 6 614 9 11 4 13 11 4 18 6 37 437:462 4 9 3 4 12 11 4 17 2 5 in 38 4 6 114 811412 2 4 16 o 5 o 6|5 5 7 39 4 8 94 II 84 15 3 4 19 4 5 4 1 I 5 9 5 40 4 11 7 ! 4 14 9 4 18 6 5 2 11 5 7 10 5 13 6 41 4 14 7 4180520568 5 11 10 5 17 10 42 4 17 10 , 5 1 6 ■ 5 5 g 5 10 7 5 16 2 627 43 * 5 1 4 I 5 5 3 j 5 9 9 j 5 14 'o 609 677 44 ; 5 5 > I 5 9 2 5 13 11 5 19 46 5 8 6 13 o 45 5 g o 5 13 5 5 18 5 642 6 10 11 6 18 g 46 5 13 3 5 17 10 ! 6 3 1 6 g 3 6 16 6 | 7 411 47 5 17 8 626 68 1 6 14 9 726 7 11 5 48 623'675 6 13 5 706 789 7 18 4 49 6 7 2 612 8 61 g 27 6 8 7 15 6 8 5 9 50 ] 6 12 5 I 6 18 3 j 7 5 2713 3 8 2 8 8 13 7 £ eg Annual Annual ' Annual Premium Premium Premium <j«f for for for a 5 1 Year. 3 Years. 1 5 Years. Under! £ s . d. £ s. d. £ s. d. 25 i 1 o o 106 1 10 25 1 0 8 1 oil. 1 1 4 26 1 o 10 1 1 4 1 1 10 27 1 1 31 1 10 1 24 28 1 1 id" Pi 2 5 1 2 10 29 1 2 5 1 2 11 134 30 1 3 o ■ 1 3 5 1 3 10 3 1 1 3 5 . 1 3 10 i 4 3 32 1 3 10 1 4 3 1 4 g 33 j 1 4 2 1 4 8 j 1 5 4 34 Ii 4 8 1 5 3 !I 3 11 35 '' 1 5 3 1 6 o | 1 6 7 36 160,168173 37 168174 1 7 10 38 175:180 185 39:180186 1 go 40 1 8 61 8 II' 1 g 7 41 j 1 8 11 ! 1 9 6 , 1 10 4 42 I 1 9 5 j 1 10 3 I II 5 43 1 1 1.0 3 1 11 3 1 12 8 44 in 2 : 1 12 7 1 14 o 45 : 1 12 6 ' 1 14 1 1 15 7 46 1 14 1 1 15 8 1 17 2 47 1 15 9 1 17 3 ; 1 18 g 48 1 17 3 . 1 18 10 204 49 1190 205 222 50 206221 240 51 221 2311 262 52 2311 261 287 53 2622872113 54 12 8 7 211 3 2 14 2 IMMEDIATE ANNUITIES. Showing the Sum to be paid for an Immediate Annuity of £10, payable by Half-yearly Instalments. >> ■*= "2 MALE. FEMALE. ~£ MALE. : FEMALE. _£g I i "<m i i £ s. d.\ £ s. d. 1 / s. <Z. £ s. d. 6Q II3 7 6 I25 I2 6 80 51 10 10 55 10 o 5 g 117 o o i 129 7 6 79 53 19 2 5 8 5 o 58 I20 I2 6 ! 133 3 4 78 56 9 2 61 1 8 57 124 2 6 j 136 17 6 77 59 o o 64 0 o 56 ; l2 y I0 10 j I40 u s 76 61 12 6 67 o 10 55 ; I30 t6 8 ! 144 4 2 75 64 7 6 70 2 6 54 ; I34 0 , 0 I47 r4 2 74 67 5 o 73 5 10 53 I37 4 2 151 4 2 73 7° 3 4 76 10 10 52 r4 o 5 o 154 12 6 72 73 5 0 79 17 6 51 i 43 5 o 157 19 2 71 76 84 83 5 10 50 I46 - 4 2 l6l 4 a 70 79 12 6 , 86 16 8 4g I49 0 I0 , l64 IO 0 69 82 17 6| 90 11 8 48 j I5I l6 8 j IO? IS Q 68 86 2 6 1 94 9 2 47 j I54 I0 jo J I70 l8 4 67 I 89 7 6 I . g8 8 4 46 ' 157 5 o j 174 o 10 66 92 12 6 I 102 04 45 ! I5g I? 6 j I?7 Q to 65 96 o o I 106 7 6 44 1 I02 s 4 179 19 2 64 99 9 2 IIO 6 8 43 ig 2 ) 182 16 8 63 102 18 4 ' 114 4 2 42 ; 167 g 2 185 11 8 62 106 7 6 118 o o 41 I I0Q 18 4 188 5 10 61 i°9 16 8 , 121 15 10 4Q iy2 6 8 Igo l8 Double-Endowment ASSURANCES. (With Profits.) For the Assurance of £100 in the event of Death during the Term, and an Endowment of £200 in the event of the Life assured surviving the Term. Term Animal lerm. premium. £ -• <-• 10 years 17 12 o 15 „ 11 o o 20 „ 7 14 o 25 „ 5 16 o 30 „ 4 12 o 35 » 3 15 o

25

H.—B

SCHEDULE.

Which were in Use on the 31st December, 1914.

TABLE YI. TABLE YI.p. TABLE YI.p. ENDOWMENTS ENDOWMENTS EN DOWM ENTS FOR F0R FOR CHILDREN CHILDREN. CHILDREN. AND OTHERS. Annual Premiums to secure £100 in the event of Annual Premiums to secure /ioo in the event of Survival of Nominee to End of Term. Premiums returned (less 10 per cent.) in event of Death of Nominee during the Term. The Policy becomes paid up in the event of Death of Purchaser during the Term. Rates of Premium to secure Survival of Nominee to End of Term. Premiums /ioo in the event of Snr- returned (less 10 per cent.) in event of Death of vival to End of Term Pre- Nominee during the Term. The Policy becomes paid miums returned in the event "^ in the mnt "f Death of Purchaser during the Term. of Death. (With Profits. 1 (With Profits.) \vvuh itkufit5.j (With Profits.) Auo. of Purchaser at nearest Kh-thdav. Age of Purchaser at nearest Birthday. Term of -j Years. Age 01 i-urcnaser at nearest Birthday. Tnvtn _, Term Term 0 ( , of Single. Annual. Years. Years - Under 30. 30-39. 40-44. 45-49. I Under 30. 30-39. 40-44, 45-49. I I s - d. £ s. d. £ s , d. £ s. d. £ s. d. £ s. d. IO 74 10 o 8 13 1 1Q 9 6 1 : 9 10 5 g 19 i ro 7 8 I 11 72 5 o 7 15 1 u 8 6 9 8 10 7 8 18 4 9 6 1 12 7° 1 o 7 o i 12 7 10 7 7 14 1 8 1 1 i 8 8 1 13 67 19 o 6 7 5 13 6 17 o 7 o 2 7 6 6 : 7 12 11 14 65 18 o 5 16 7 14 6 5 4 6 8 3 6 14 1 6 19 11 15 ! 63 19 o 5 7 3 15 5154:5180 634 689 . 1 : • 16 I 62 o o ; 4 19 1 1 6 5665905 13 11 1 5 18 11 - ! 17 60 4 o 4 11 11 17 4 18 10 5 1 1 ; 5 5 8 ' 5 10 4 18 58 8 o 4 5 7 18 4 12 o : 4 14 2 4 18 5 \ 5 2 8 19 56 14 o 3 19 11 19 4 5 11 4 7 11 4 II II 4 15 11 20 J 55 1 0 3 14 10 20 4 o 5 4 2 4 4 6 1 4 9 10 i ' 21 ; 53 9 0 3 10 3 2 1 3 15 6 3 17 3 4 o 10 4 4 4 22 5i 17 o 3 6 1 22 3 11 0 : 3 12 8 3 16 o 3 19 4 23 50 8 o 3 2 4 23 3 7 0 3 8 7 3 11 8 3 14 io 24 48 18 0 2 18 10 24 3 3 3 3 <l 9 : 3 7 8 : 3 10 7 25 47 9 o ' 2 15 8 25 2 19 10 3 1 3 ! 3 4 o , ■ 3 6 10 Premiums payable oftener than yearly are obtained in the following manner:— Half-yearly.— The annual premiums are increased by 2\ per cent., and divided by 2. 83 Quarterly. —The annual premiums are increased by 5 per cent., and divided by 4Monthly. —The annual premiums are increased by 7J per cent., and divided by 12. Four-weekly. —The annual premiums are increased by 7J per cent., and divided bv T3.

H.—B.

FIFTH

Appendix No. 1— continued. THE PUBLISHED TABLES OF PREMIUMS

26

WHOLE-LIFE ENDOWMENT ASSURANCES, ENDOWMENT ASSURANCES, ASSURANCE, WITHOUT WITHOUT PROFITS. WITH EXTRA PROFITS. PROFITS. Premiums required to secure £100, Premiums required to secure £100, payable at End of Term, or at payable at End of Term, or at previous Death. previous Death. Premium required to secure £100, payable at Death only. " Age. Annual Premium. Aire Term, Term, , Term, Term, 6 ' 25 Years. 30 Years. rts °- 25 Years. 30 Years. Age. 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 £ s - d, 144 1 5 2 1 6 1 t 6 II 1 7 8 ■ 8 5 i 9 2 1 911 1 10 8 in 6 1 12 4 I 13 3 1 14 3 1 15 4 116 4 117 6 1 18 7 1 19 TO 211 ■_ I i_ ! £ s. d. £ s. d. £ s. d. £ s. d. 15 3°5 289 15 404 370 16 3 0 11 292 16 4 o 10 376 17 315 298 17 414 380 18 3 1 10 2 10 1 18 41 10 3 8 6 19 322 2 10 6 19 422 3 8 11 20 325 2 10 9 20 425 393 21 3 2 8 2 no 21 428 39 6 22 32 10 2 11 3 22 4 2 10 399 23 3 3 o 2 11 6 . 23 431 3 10 o 24 3 3 3 2 11 10 24 434 3 10 4 25 3 3 7 .2 12 2 25 438 3 10 8 26 3 3 11 2 12 6 26 441 3 11 2 27 3 4 3 2 12 11 27 4 4 5 3 " 7 28 3 4 7 2 13 5 28 4 4 10 3 12 1 29 3 5o 2 13 11 29 453 3 12 7 30 3 5 5 2 14 5 30 4 58 3 13 2 31 3 5 10 2 14 11 31 462 3 13 9 32 3 6 4 2 15 6 32 468 3 14 4 33 3 6 10 2 16 1 33 472 3 15 o 34 3 7-1 2 16 9 34 4 7 9 3 15 9 35 3 7 u 2 17 6 35 485 3 16 6 36 387 2 18 4 36 492 3 17 6 37 3 9 3 2 19 2 37 4 9 ti 3 18 5 38 3 10 o 301 38 4 10 8 3 19 5 39 3 10 10 311 39 4 ii 6 406 40 3 11 9 3 2 3 40 4 12 6 4 1 9 41 3 12 8 3 3 5 41 4 1.3 7 4 3i 42 3 13 10 3 4 9 42 4 14 9 4 4 7 43 3 15 o 363 43 4 16 1 461 44 3 16 5 371° 44 4 17 7 4 7 11 45 3 17 10 3 9 8 45 4 19 2 4 9 10 46 3 19 6 3 11 7 46 5 o 11 4 n 11 47 412 3 13 8 47 5 2 10 4 14 3 48 4 3i 3 15 11 48 549 4 16 8 49 4 5i 3 18 4 49 5 6 11 4 19 4 °0 4 7 4 ■ • 50 5 9 4 51 4 9 9 • • 51 5 12 o 52 4 12 5 •■ 52 5 14 11 53 4 15 5 .. 53 5 18 1 54 4 18 8 .. 54 617 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 225 2 3 9 2 5 3 269 2 8 4 2 TO I 2 II IO 2 13 8 2 15 3 2 17 10 3 o 1 32b 3 5 1 3 7 8 3106 3 13 5 3 16 7 3 19 11 4 3 5 4 7 3 4 11 3 • 4 15 6 5 o 1 5 4 11 5 10 1 5 15 8 6 1 6 679 6 14 5 7 1 5 7 8 11 Note.—In addition to participation in ordinary profits, a special Reversionary Bonus of 20s. per cent, per annum .. , on the sum assured will be allotted.

H.—B

27

SCHEDULE.

Which were in Use on the 31st December, 1914.

ENDOWMENT ASSURANCE DEFERRED ASSURANCES (For Children), (For Children), WITH EXTRA WITHOUT PROFITS. PROFITS. After Age 21 the Policy, in addition to participation of the ordinary profits, will receive an extra Reversionary Bonus of 20s. per cent, per annum on the sum assured. WHOLE-LIFE ENDOWMENT ASSURANCE. ASSURANCE. Premiums to secure £100, Premiums to secure £1 payable at Death after payable at Death aft the Age of 21. Age 21, or at Age 5; Premiums to secure £100, payable at Death after Age 21, or at Age so. Premiums to secure £100 payable at Death after Age 21, or at Age so. Premiums payable Premiums payable ui throughout Life. Death, or Age 50. Premiums payable until Death, or Age 50. Premiums payable until Death, or Age so. a « Annual A _„ Annual Age - Premium. Age - Premium. a t/o Annual Age - Premium. a »*, Annual Age - Premium. £ s. d. £ s. d. 0 0122 0 0194 1, o 12 8 1 102 2 0132 2 110 3 0138 3 tiii 4 0143 4 1 2 11 5 o 14 10 5 1 3 11 6 o 15 5 6 150 7 o 16 1 7 .162 8 o 16 9 8 175 9 o 17 5 9 189 10 o 18 2 10 1 to 1 11 0190 11 1 11 7 12 o 19 10 12 1 13 2 13 108 13 i 14 10 14 117 14 1 16 8 £ s - 3, 0 o 19 4 1 10 2 2 110 3 1 1 n 4 1 2 11 5 1311 6 '5» 7 1 6 2 8 17 5 9 189 10 1 TO I 11 1 11 7 12 1 13 2 13 1 14 10 14 1 16 8 £ s. d. 0 1 6 4 11 176 2 188 3 1 9 11 4 1 11 3 5 1 12 8 6 1 14 2 7 1 15 9 8 r 17 5 9 1 19 2 10 211 11 231 12 2 5 3 13 277 14 2 10 1 Premiums refunded if child die 1 1 refunded if child die befo: ire age 21.

H.—B.

FIFTH SCHEDULE.

Appendix No. 2. ASSURANCES FOR THE WHOLE TERM OF LIFE WITH WHOLE-LIFE PREMIUMS, WITH PROFITS, In force at 31ST December, 1914.

28

Age Number of attained. Policies. Amount assured. Bonus Additions. Ora'ioE Annual Pbemiums. Ordinary. Extra. Yearly Net Permanent Atfe Premiums. Reduction of attained. Premium. 29 1 30 1 31 3 32 8 33 13 34 20 35 24 36 35 37 60 38 70 39 91 40 92 11 I34 42 149 43 148 44 209 45 168 46 232 47 194 - 48 255 49 249 50 252 51 227 52 273 53 240 54 271 55 241 56 339 57 320 58 281 59 288 60 320 61 294 62 282 63 274 64 290 65 230 66 221 67 209 68 186 69 197 70 197 71 167 72 176 73 162 74 I7 i 75 I0 3 76 114 77 9 l 78 89 79 81 80 64 81 47 .82 3*3 83 21 84 l6 85 7 86 6 87 5 88 2 89 3 91 1 92 Totals 8,949 £ 650 300 700 1,800 3,200 5,150 4,400 8,585 14,160 17.525 24,550 24,520 33.445 36,565 39,285 51,990 45.945 65.765 57, 020 78,595 70,750 64,700 68,800 78,300 68,050 77,i8o 71,370 95,973 81,315 81,550 79,513 90,307 85,896 80,430 75,579 92,897 64,025 59,75i 63,316 53.693 57.748 61,482 49,901 47,295 51,210 50,514 25,382 3i,956 26,530 25,450 26,479 16,621 18,040 13,590 4.795 6,220 3.050 2,300 2,300 600 1,000 2,000 200 £ '• 90 8 41 16 116 5 300 10 463 5'" 758 9 736 17 1,468 7 2,487 5 3,247 2 4,847 17 4,833 16 6,670 II 7,382 14 8,496 4 ",344 4 8,557 11 14,450 12 12,317 i5 16,576 8 16,346 14 13,918 13 14,867 17 17,175 3 14,841 2 l8,Ol6 5 16,203 13 20,gio 18 17,366 5 18,450 4 17,881 6 22,533 7 19,462 4 18,411 7 18,744 8 23,420 9 16,331 19 14,918 1 16,573 4 M,337 1 17,000 6 17,238 9 15,415 0 12,855 8 16,485 3 15,586 5 7,955 19 9,517 o 7,154 5 7,877 6 7,921 15 5,203 1 5,839 19 4,372 2 1,766 2 1,890 7 1,203 7 716 6 780 9 152 19 418 8 778 7 80 6 £ s. d. £ s. d. 10 4 10 4 14 6 11 I 9 28 17 TO 52 0 g 85 18 o 74 6 6 145 17 4 246 7 II o 10 0 303 17 3 1 10 o 427 2 II 9 IO O 436 13 8 7 19 0 603 16 650 671 13 5 8 12 8 73° 17 12 5 o 979 71° 52 2 8g5 08 9 17 1 1,297 6 6 18 12 10 1,158 13 1 5 12 6 1,595 17 11 12 15 0 1,467 3 2 17 2TI r ,381 29 19 1 4 1.466 08 16 3 4 i,735 o 10 19 6 o 1,518 00 18 2 3 1,712 11 4 38 15 2 1,621 611 18 10 4 2,232 2 11 54 5 2 1,904 187 40 2 o 1,953 30 26 2 5 i,gog 87 42 18 2 2,187 12 34 o 7 2,120 11 3 37 2 2 i,g78 5 2 46 16 10 i,9I7 15 o 31 17 5 2,337 8 1 57 14 3 1,685 o o 48 15 g 1,608 14 5 31 7 11 1,763 14 1 60 16 7 1,448 5 5 39 3 6 1,581 26 37 15 6 1,767 o 8 39 14 g 1.467 611 30 o 7 1,427 17 3 26 16 5 1,475 81 45 2 o 1,508 11 32 19 9 750 18 5 17 14 3 1,014 3 9: 22 8 2 935 1 o 30 10 5 868 59 24 18 5 873 14 2 : 12 13 6 595 3 9 i 10 10 10 668 8 2 802 538 19 4 4 9 8 164 15 4 4 13 6 214 15 2 8 14 8 105 14 6 11 13 4 115 26 go 12 10 36 8 4 42 2 8 "7 3 4 12 10 o 0100 £ £ : d. 7-319 •• 29 3-498 .. 30 8-233 ■• 31 21.563 .. 1 32 38-919 .. 33 64-597 •• 34 56-106 .. 35 110-707 .. 36 188-201 .. 37 231-478 .. 38 325-626 .. 39 336-056 .. 40 464-789 .. 41 520-183 .. 42 567-336 o i 2 43 764-557 o 18 11 44 705-528 .. 45 1,025-297 .. 46 921-388 .. 47 1,269-110 .. 48 1,172-873 o 12 9 49 1,112-027 1 16 8 50 1,184-091 o 5 4 51 1,413-126 o 17 6 52 1 1,238-552 •■ 53 1,410-029 2 14 o 54 1,337-624 444 55 1,861-153 048 56 1,590-034 032 57 1,652-063 722 58 1,616-669 154 59 1,858-639 090 60 1,824-657 .. 61 1,705-605 5 o 4 j 62 1,653-906 190 63 2,025-590 .. 64 1,466-716 .. 65 1,410-490 1 9 10 66 1,553-600 .. 67 1,282-364 .. 68 1,400-311 048 69 1,572-401 8 11 o 70 i,309-793 7 9 4 71 1,280-299 0 2 10 72 i,325-357 •• 73 1.363-394 ■■ 74 678-682 o 18 8 75 919-762 1 12 o 76 846-746 .. 77 79i'35o 16 17 2 78 799-347 • • 79 545-415 042 80 612675 .. 81 499-482 o 10 8 82 153-216 .. 83 200-953 .. 84 98-702 .. 85 105-545 .. 86 86-335 • ■ 87 34-187 •• 88 40-032 .. 89 110-120 .. 91 11-712 .. 92 £2,542,208 32,542,208 Si £614,106 5 614,106 5 £62,076 14 7 £1,166 1 3 £52,786-115 £65 4 8

29

EL— 8

FIFTH SCHEDULE.

Appendix No. 3. ASSURANCES FOR THE WHOLE TERM OF LIFE BY LIMITED AND SINGLE PREMIUMS, WITH PROFITS,

In force at 31ST December, 1914. ti I Age J'g Amount Bonus attained. a£ j assured. Additions. IS J ttr ' Q -«oq ° » "to Officio Annual Yearly 53-SS oj Premiums. v . Permanent III ; || rl i Pi-emlums. Hrfnrtta. h fljjj 5 b >rt Ordinary. Extra. Premium. I j i I £ s. d. £ s. d. 35 2 950 00 142 16 o 36 2 350 00 - 55 15 o 37 2 400 00 61 13 o 38 3 700 00 no 11 o 39 7 2,000 o o 413 ti o 40 5 2,100 o o 562 1.6 0 41 7 3,000 o o 604 3 o 42 7 2,153 o o 456 15 o 43 8 2,307 o o 692 5 o 44 7 2,165 o o 618 13 0 45 11 2,055 o o 643 12 o 46 17 5,583 o o 1,774 3 o 47 8 1,732 o oj 466 o o 48 12 4,473 o o| 1,242 14 o 49 8 2,687 o ol 833 11 0 50 I0 4,308 o o| 1,47° 11 o 51 7 1,628 o oi 669 9 o 52 9 4,933 o o' i,59° 6 o 53 12 3,137 o o 893 4 o 54 12 4,895 o oj i, 446 1 o 55 6 1,547 0 oi 549 1 o 56 'i 4,686 o o 941 15 o 57 11 4,273 o oi 1,792 9 o 58 9 1,219 o ol 628 9 o 59 18 8,416 0 oi 2,716 1 o 60 22 8,050 o o 2,562 17 o 61 11 3,337 0 0! 1,187 1 o 62 '7 5,924 o oj 2,448 16 o 63 15 9,549 o o; 2,765 16 o 64 .15 7,312 o 0 3,650 T9 o 65 21 7,179 o o 2,869 18 o 66 27 10,418 o o! 4,570 2 0 67 16 9,508 o oj 4,077 1 o 68 15 4.579 0 0 i,743 17 ° 69 T 7 7.285 0 0 ?,7°5 13 o 70 19 8,862 o oj 3,537 14 o 71 23 8,136 o oj 3,287 o o 72 19 6,886 17 oj 3,419 4 o 73 29 15,772 o oi 6,270 17 o 74 23 9,224 o oj 4,721 6 o 75 18 7,5i3 o o 3,272 4 0 76 ! 17 7,320 o 0 2,984 4 o 77 ' 14 7,689 o oj 3,621 13 o 78 12 3,129 o oi ',329 3 o 79 14 7,242 o oi 2,978 9 o 80 2 285 o o, "7 3 o 81 5 2,717 0 0 i,433 6 o 82 2 1 1 °59 o °l 562 19 o 83 1 1,000 o oi 53° 5 o 84 6 3,143 o 0 628 4 o 85 2 356 oo! 6 18 o 86 4 3,i°4 o oj 598 3 o 88 1 500 o o 269 7 o Totals 598 £238,775 17 0/90,526 3 o £ s. d. £ s. el. £ £ 5. d, I 1915 : 7 50-9 I 81 19 11 .. 68-878 1 19 11 1916 6 46-3 ! 64 4 4 .. 52T17 1917 6 50-0 53 19 7 .. 45-492 1918 j 6 44-8 91 19 0 .. 75'77i 1919 I 4 45-3 35 10 8 .. 29-035 1920 I 1 43-5 288 .. 1-966 ' 1922 ; 2 j 53-5 26 II 4 .. 22-200 1923- i 41-5 7 11 o .. 6-027 1924 I 5 J 397 j 36 91 •■ 29-119 1925 2 46-0 17 5 0 .. 13-647 I ■ 1926 ! 3 48-2 J 16 1 o .. I3'i59 1927 1 : 48-5 1 2 11 10 .. 2-i2o ; 1929 i 2 48-0 23 9 8 .. 19-563 1934 ; I 505 2 12 8 .. 2-I70 1937 I 37'5 3 18 4 •• 3028 1939 I 35'5 3 14 8 .. 2-846 I I • . i . 1 • • ! 49 I 4 fi, 5 £470 69 .. £387-138 £1 19 11

H.—B

30

FIFTH SCHEDULE.

Appendix No. 4. ENDOWMENT ASSURANCES WITH PROFITS In force at 31ST December, 1914.

Appendix No. 5. ENDOWMENT ASSURANCES WITH EXTRA PROFITS. In Force at 31st December, 1914.

Year of Maturity. c Year of Maturit; 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1-946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 i960 1961 ig62 1967 by. Number Valuation of Age. Policies. ! !_ 598 53-5 565 52-2 621 51-1 6g8 49-8 767 48-5 756 i 48-0 788 47-5 821 46-2 949 45-2 9i8 44-4 994 42-8 919 42-7 997 4i-3 1,045 41-0 1,017 39-9 1,050 38-8 863 37-7 919 37'4 877 36-4 i 97i 35-3 836 349 745 33-7 716 32-8 656 32-1 690 31 • 1 481 31-3 439 30-3 401 29-5 431 28-2 379 28-6 174 279 160 27-0 163 26-5 170 26-0 1.30 I 25-7 50 i 25-5 57 ' 245 66 22-6 60 22-0 65 21-O 26 21-I 18 ig-i 10 T8-g 9 26-4 2 20-7 3 197 3 19-0 : 1 18-0 I 27-0 Amount assured. i £ "7.769 "4.773 124,575 j 139,450 147,474 M3,35o 151,500 i57,"i35 184,568 170,300 '76,950 170,585 I 190,195 205,225 ig2,825 199,275 166,750 182,TOO 167,516 192,005 168,770 149,400 '50,775 132,800 148,400 105,375 93,500 88,850 99,550 85,900 40,550 38,100 16,000 38,650 31,850 11,100 12,050 13,800 12,300 12,200 5,550 3,250 1,4°o 1,850 300 600 400 100 200 Bonus Additions. £ 1. 24,432 5 23,323 1 24,338 11 24,660 o 24,982 5 23,371 19 23,013 8 21,749 3 25,650 16 22,198 13 20,961 7 '8,754 7 19,685 o 20,695 18 '7,373 IO 17,159 14 12,398 9 12,ogg 1 9.563 11 9.717 '7 8,197 6 5,457 19 5,016 o 3,7o8 13 2,826 5 2,88g 4 1,774 12 1,253 5 g86 7 636 18 483 16 422 2 209 16 283 12 , 81 3 108 16 74 6 38 15 54 2 14 14 23 11 3 14 1. '7 12 12 1 1 21 , Office Annual Premiums. Net Premiums. Ordinary. Extra. £ s. d. \ £ s. d. £ 4,631 5 3 27 7 it 4,019-992 4,479 9 10 24 17 8 3,840-419 4,855 '7 3, 1169 4,169-9^ 5,527 78 12 o 7 4,736-901 5,860 ig 2 ii5° 5,023-267 5,578 ■'■ 2 16 14 8 j 4,733-652 5,962 17 4 28 18 6 ; .5,044-651 6,274 '4 5 22 9 7 5,311-831 7,008 15 4 20 10 8 5,908-954 6,436 12 2 964 5,418-256 6,576 0 6 19 8 8 5,462-256 6,477 '2 5 20 0 2 i 5,392'8l9 7,028 3 2 1., 5 3 5,825-629 7,371 17 6 20 I O j 6,II3-520 6,987 14 9 32 4 4 5,780-202 7,034 7 1 14 15 1 5,761-412 5,917 10 11 20 16 4 4,838-503 6,435 90 15 4 7 5,250-788 5,915 19 9 I 18 6 1 4,830-532 6,801 16 11 23 14 11 5,549'649 5,663 16 1 7 17 o 4,582359 5,034 7 9 644 4,079-754 4,989 18 r 220 4,037'92 2 4.35o 34 648 3,518-187 4,921 47 9 11 4 I 3,g66-g29 3,176 7 10 3 19 o 2,530-017 2,808 19 7 15 2 7 2,231-314 2,619 02 <) 16 1 2,082-215 2,909 13 5 I 3 II 10 2,308-712 2,519 0 ii 73 6 2,000-114 1,107 '8 6 406 865-323 1,011 8 2 .. 787-279 946 67 o 8 10 730814 984 16 9 090 762-159 j 817 1 o .. 632-785 269 03 2 14 o 203-643 ' 284 13 II .. 217-944 320 36 174 239890 279 135 • • 207-534 275 15 6 .. 205-801 117 1 6 .. 88-312 66 10 5 .. 50-055 27 16 10 . . 20-864 39 7 2 .. 2g-3i4 5 19 11 .. 4-276 12 2 o % .. 8-758 7 19 o .. 5-694 1 16 8 .. 1-358 340 .. 2-224 I 1 1 Yearly Permanent j Year Keduction of of Maturity. Premium. ; £ s. d. 4 9 5 '9'5 4 19 8 1916 2 13 4 1917 2 3 IO 1918 1 1 1 I9ig 0 12 g 1920 2 14 o 1921 1 15 10 1922 1923 0 12 o 1924 1925 0 2 8 , ig26 1927 1 2 o 1928 1929 1930 1931 1932 1933 1934 '935 1936 1937 1938 1939 1940 '94' 1942 1943 1944 1945 1946 1947 ig 4 8 1949 1950 I95i 1952 1953 1954 1955 1956 '957 1958 1959 1960 1961 ig62 1967 Yearly Permanent Keduction of Premium. £ s. d. A 9 5 4 19 8 2 13 4 2 3 10 1 1 1 012 9 214 o ] 15 I o 0 12 o 028, I 2 O 24,075 ; Single and 238 Lmtd. Pr'ms. 4,777.89o 73,602 430,710 2 •1.747 '3 i 168,733 19 5 1,801 3 8 466 6 1 139,414-702 13 4 2 1,431-417 22 6 7 Single and lumta Pr'ms. Totals • • J 24,818 £4,851,492 £485,45715 £170.535 8 1 £479 10 8 £485,457 15 £170,585 8 1 £479 10 -'I £140,846119 £140, i,846 ; I £25 Ii 7 j K Lidstone's mean valuation age for suras assured.

Year of Maturity. Number of Policies. Amount, Assured. L_ l-tonus Additions, Office Annum. Ordinary. r. Premiums. Extra. Net Premium*. Year of Maturity. 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1 12 9 24 15 8 £ 2,000 1,950 2,250 4.150 3.450 1,100 750 950 400 550 2,750 £ S: d. 54 18 o 36 9 o 26 14 o 15 9 o £ s. d. 117 '3 4 83 19 4 104 11 8 181 6 6 1.57 9 11 47 16 11 26 17 3 35 4 6 , 17 8 o 21 13 9 98 7 11 £ -- d, £ 104-000 70-806 87535 152-776 134-457 40367 22-543 29-028 14704 18-358 81-383 '934 1935 1936 1937 1938 1939 1940 1941 1942 1943 '944 4 4 2 4 14 Totals • ■ 97 £20,300 £133 10 0 £892 9 1 755-957

H.— 8.

FIFTH SCHEDULE.

Appendix No. 6. LONG-TERM ENDOWMENT ASSURANCES (MATURING AT AGE 80), WITH PROFITS, In force at 31st December, 1914.

6 —H. 8.

31

, Number of Age - Policies. Amount assured. Bonus Additions. Office Annual Prkmiums. Ordinary. Extra. Yearly Net Permanent Premiums. Reduction of Premium. Age. 16 5 17 1,8 18 13 19 18 20 26 21 24 22 20 23 31 24 32 25 39 26 55 27 54 28 66 29 72 30 60 31 76 32 97 33 99 34 105 35 112 36 119 37 109 38 140 39 140 40 150 41 j 143 42 140 43 152 44 119 45 129 46 155 47 138 48 no 49 147 50 102 51 120 52 96 53 96 54 70 55 71 56 66 57 58 58 51 59 40 60 31 61 41 62 26 63 31 64 30 65 22 66 to 67 26 68 13 69 5 70 3 71 8 72 5 74 4 75 2 76 1 / 2,300 5.550 4.050 5.450 7.I50 8,100 7.3oo 10, IOO 10,850 13,200 16,700 19,850 22,250 23.750 18,700 25,250 32,200 30,700 32,600 33,8oo 34.050 31.400 40,500 48,000 42,750 43,550 39,150 45,ooo 34,800 41,100 44.550 39,700 34,450 49,800 27,850 32,950 27.497 24,700 22,550 17,800 16,859 17.047 11,goo 11,iog 7,612 10,183 10,200 5,75o 6,850 6,300 3,000 6,150 6,750 1,500 1,7°o 2,950 600 1,050 650 200 1 t 1 1 i 1 1 1 1 1 1 1 1 1 t t 1 1 t £ -• 4 4 35 14 II 12 51 14 100 8 226 4 259 14 188 3 186 16 367 5 46g 16 431 12 919 3 847 1 963 1 1,028 9 1,094 1 1.137 2 1,632 10 1,806 ig 2,398 15 2,495 15 1,886 16 2,315 11 i,8rJo g 2,437 l6 2,711 12 2,226 8 2,355 14 3,213 6 1,645 17 2,og5 10 1,804 4 i,75o 14 1,654 1 9 1,251 10 1,001 13 746 7 812 8 500 3 663 13 663 10 454 2 426 4 572 10 262 19 462 1 399 1.3 96 8 142 5 332 10 43 7 100 1 54 16 23 4 • £ s. d. £ s. d. 36 5 4 91 5 1 68 5 3 94 15 8 125 5 5 142 1 4 133 13 4 186 11 3 2 10 0 202 38 247 16 9 322 57 500 397 19 o 455 12 9 2 19 0 493 3 2 150 383 6 5 19 9 543 1 11 688 17 4 596 676 24 2 19 6 726 9 10 880 77i i 3 806 1 o 3 9 7 743 3 1 976 16 6 9 18 4 1,192 10 5 30 6 4 1,031 10 o 1 10 4 1,095 10 7 1 g 11 1,025 18 3 12 2 4 1,205 7 11 15 5 6 956 14 1 2 14 5 1,151 13 5 8 8 8 1,292 04 13 15 8 i.i95 o o 5 5 3 1,025 4 10 5 14 8 1,546 90 420 922 15 10 6 8 6 1,086 89 4 3 10 935 7 10 17 13 o 848 19 n 10 15 o 799 7 n 672 688 07 5 9 6 645 no 290 724 19 3 192 524 4 11 5 7 3 462 19 4 090 343 18 6 14 10 500 32 g 19 8 512 15 294 18 1 2 14 11 368 6 I 6 15 8 325 4 6 5 15 10 165 126 362 14 3 3 11 10 464 no 11 4 10 108 64 117 5 10 188 3 2 129 41 4 11 84 17 9 57 6 8 16 g o I £ s - <*• 26-404 65813 49-294 68-731 91-489-104-812 98907 138-805 150-610 182-785 238-935 297-190 342-890 371-259 291-037 416-682 522-966 515-960 558-687 591-990 623-904 576920 761-075 938-489 806-343 857-592 811-467 956-452 758-300 917-017 1,029-226 959-874 824-191 1,252-783 749-304 882-122 763-990 691-625 652-406 567-054 534-884 602-329 440-770 j 385-674 ! 285-217 419-410 437-107 246-456 312-764 272-959 141-710 307-308 399:291 92-626 102-882 161-373 35793 74-387 ; 49-821 14258 l-9fi.899-.399 '' 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 74 75 76 Totals 1 3,941 £54,778 9 £33.619 3 9 £252 15 6 £26,822-399 £1,180,357 xioi,owov»

ri. —B

32

FIFTH SCHEDULE.

Appendix No. 7. DOUBLE-ENDOWMENT ASSURANCES, WITH PROFITS, In force at 31st December, 1914.

Appendix No. 8. TEMPERANCE NON-PROFIT SECTION (Constituted according to Section 39, Government Life Insurance Act, 1908). In force at 31st December, 1914.

Year of Maturity. 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 ig28 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 194° 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 J i i Number Valuaof tion Policies. Age.* J , I 49 51-9 7° 48-9 33 49-0 44 49-o 54 50-2 i°4 47'3 167 46-4 87 45-6 '37 45-1 151 43-1 168 45-2 186 44-7 '99 4'-i 297 39'3 361 38-2 371 38-4 373 37-3 329 35'9 517 34'4 533 33-8 392 33i 406 33'0 47i 33-6 447 307 538 30-2 285 29-8 310 29-6 354 28-5 547 27-4 652 257 201 266 196 255 290 24-1 409 227 411 21-3 1 210 Amount assured. £ n,ioo 18,200 9,500 11,100 13,500 23,850 42,300 21,700 37,300 36,200 46,600 47,200 53,600 75,95o 91,200 100,600 94, 200 82,000 132,200 131,300 98,100 104,100 121,300 r16,800 146,700 70,700 79,000 93,200 156,200 187,800 47,800 54,100 76,800 106,800 103,300 500 Bonus Additions. OFFICE Annual Prfmiums. , Premiums. | Year of Maturity. Ordinary. Extra. 1 1 4 niiiHiiuri, 1 £ t. 8ig 6 1,258 16 527 11 619 5 667 18 1,598 10 2,708 8 1,083 6 i,756 15 1,509 6 2,202 3 2,036 1 1,849 13 2,79i 15 2,821 9 3,355 4 2,608 15 1,886 5 2,693 18 2,607 19 1,980 3 1,542 19 1,427 15 1,125 17 1,166 4 1,062 10 909 13 796 7 855 3 605 6 393 3 178 6 £ s. d. £ s. d. 501 1 10 811 16 4 ■175 6 10 544 °5 675 10 4 8g8 14 7 i,5og 18 10 894 16 10 I,505 61 i,453 13 8 1,636 16 1 158 1,686 12 10 1,930 o g 2,565 3 6 3,o39 3 9 3,129 9 1 2,916 10 2 2,536 07 4,076 16 n 3,912 7 n 2,665 16 5 2,832 25 3,276 18 4 3,154 3 11 3,910 10 o 1,609 14 o 1,778 ig 10 ( .. 2,081 14 2 3,519 11 1 4,245 14 8 947 3 7 1,065 3 9 1,518 5 9 2,119 10 4 2,051 16 o n '7 17 8 ■ I £ 457-350 1915 741850 1916 428-925 1917 495075 1918 620700 1919 801-525 1920 1,346650 1921 798-175 1922 1,342-000 1923 1,289-850 1924 > 1 1,481-200 1925 1,484464 1926 1,693-800 1927 2,233000 1928 2,645-950 ig2g 2,714-400 ig30 2,523825 1931 2,179-115 1932 3,514-100 1933 3,353350 1934 2,252-375 1935 2,395-550 1936 2,747-75o 1937 2,656200 1938 3,298-750 1939 1,313-025 1940 1,450-600 1941 i,695775 1942 2,888-175 1943 3.503-775 1944 740900 1945 838-550 1946 1,190-400 1947 1,655-400 1948 1,601-150 1949 6325 1950 3 19 '10,140 'aid-up Policies— : 21 2,642,800 1,962 49,449 8 158 18 73,534 9 3 1 5 8 62,380-004 jTotals 10,161 £2,644,762 £49,608 6 £73,534 9 8 II 5 8 £62,880-0(14 * Lidstoi te's mean vahiatioi age for sums assured. *

Age attained. Nombei i™, ,,i Additions ° FPICE ANNDAL Pbemiums. of Amount (allotted n N< ?' uniifiuB assured. ,':„,„ t „ Premiums. Age attained. Assurances for the whole Term of Life, with Whole-life Premiums. 58 69 71 if £ s. d. £ s. d. £ i 300 .. 6146 .. 5-469 1 200 4 18 o 584 .. 4'9i2 1 150 •• 444 .. 3-818 58 69 71 Totals 8 £650 £4 18 0 £16 7 2 .. £14109 44 Endowment Assurances. 1 200 11 17 o 5 17 o .. 4-868 44

H.—B.

33

FIFTH SCHEDULE.

Appendix No. 9. ASSURANCES FOR THE WHOLE TERM OF LIFE, WITH WHOLE-LIFE PREMIUMS, WITHOUT PROFITS, In force at 31st December, 1914.

Appendix No. 10. ENDOWMENT ASSURANCES, WITHOUT PROFITS. In force at 31ST December, 1914.

„ A ?« . N S?JJJ of : Amount assured, tttained. Policies. I £ 15 4 8oo 16 14 4,750 17 14 3,700 18 8 3,300 19 12 2,500 20 19 6,700 21 20 9,200 22 21 9,500 23 31 13,100 24 38 19.500 25 56 27,700 26 63 24,600 27 50 20,700 28 78 28,300 29 62 22,200 30 97 35,900 31 92 33.8oo 32 85 37,3°° 33 90 29,250 34 73 28,050 35 78 26,750 36 84 32,100 37 80 31,200 38 58 17.300 39 73 25,450 40 7° 23,700 41 49 17.650 42 52 16,950 43 51 16,600 44 46 14,450 45 43 16,100 46 41 15,600 47 31 12,350 48 42 12,150 49 19 6,900 50 16 4,800 51 17 6,350 52 29 9,850 53 15 5,150 54 17 5,400 55 , 11 2.500 56 8 4,300 57 11 1,850 58 7 5,ooo 59 6 1,350 60 7 2,100 62 3 1,200 64 1 500 65 2 850 67 1 1 500 Office Annual Premiums. Ordinary. Extra. £ s. d. £ s. d 10 8 o 62 8 6 49 9 1 45 1 9 36 o 4 96 16 7 137 3 3 144 16 5 206 TO 311 gil 453 15 11 411 17 o 353 o 1 498 64 404 6 11 o 19 6 669 16 o IOO 647 19 g 723 17 o 5 5 0 589 15 2 150 588 57 1 10 0 575 10 9 1 10 o 713 15 3 1000 718 13 o 5 10 o 408 19 4 620 74 5 5° 601 64 3 10 o 468 6 7 458 9 o 500 465 96 800 419 18 8 476 13 5 2 10 o 483 19 8 150 400 18 1 415 10 2 300 242 4 10 I78 18 9 TOO 239 14 8 394 9 11 210 5 9 200 232 17 6 100 III TO 203 15 2 500 go 9 9 100 264 10 5 74 7 3 o 10 0 126 16 5 76 16 o 37 4 7 500 58 11 8 3 15 o 37 4 7 Net Premium.. 9-416 15 57084 16 45-476 17 41-958 18 32899 19 90146 20 128-500 21 135-263 22 191-891 23 291-512 24 427-474 25 386-218 1 26 331746 27 469743 28 380-295 29 632-647 30 613-174 31 686-122 32 S59-330 33 557-976 34 548-010 I 35 680-758 36 684-738 37 390-305 38 589-907 39 574-627 40 448-245 41 43gi6i 42 446-673 43 403-962 44 458-061 45 463-205 46 385-657 47 400-722 48 232-580 49 171-505 50 232-207 51 380-729 52 202-261 53 227-892 54 107-712 55 197-352 56 87-922 57 257-568 58 72-105 59 123-982 60 75-074 62 36-510 64 57-384 65 36-510 67 Totals 1,895 £697,800 £16,247 19 11 £74 14 6 £15,482-194 I j i

I Year ; Number , valuation of of Aire laturity. I Policies. s J ! L I 1932 I 290 1934 I 31 -° 1935 18 39-0 1936 , 23 37-7 1937 42 38-9 1938 35 34-7 1939 22 32-5 1940 23 30-4 1941 16 33'7 1942 47 30-3 1943 54 i 28-1 ! 1944 26 35-3 1949 1 , 31-0 —| 1Totals 309 Amount Assured. £ 300 300 5,950 6,200 13,800 10,550 6,500 4,100 3,100 14,900 15,500 7,650 300 £89,150 1 Office Annual Premiums. Ordinary. Extra. £ s. d. £ s. d. 12 12 6 II 8 6 205 19 9 213 i-l 3 483 11 1 359 14 11 220 96 112 25 86 14 10 405 6 1 420 18 2 222 6 II ;. 7 0 6 |iS2,761 19 5 Net Premiums. £ 11-652 10-527 188-189 195-386 443-317 329-544 201-544 100-132 78-569 367-831 379-269 200-810 6.360 £2,513 130 Year of Maturity. 1932 1934 1935 1936 1937 1938 1939 1940 1941 I 1942 '943 1944 1949 Totals 309 £89,150 £2,513 130

H.—B

34

F/FT// SCHEDULE.

Appendix No. 11. Table showing the Minimum Surrender Value of Policies for £100.

Whole Life Assurance by Equal Annual Premiums . ., J ** Assurances payable . ° r ,l „ „ ,„ • in Fifteen Years, or at Whole Term of Life. _ ' previous Death. ' Endowment Assurances payable in Twenty-five Years, or at previous Death. Endowment Assurances payable in Thirty-five Years, or at previous Death. True Age at Entry MINIMUM SURRENDE ' UM SURRENI ER VALUES AT THE Er 2R VALUES AT THE E END OF ;D OF __ .._ ! '_ ,_:.. i i ~r .... l I L „ 5 Years. 10 Years. 20 Years. I 30 Years. 34 Years. 5 Years. 10Tears. 15 Years. 25 Years, j 35 Years. 5 Years. 14 Years. 5 5 Years. 14 Years. 5 Years. 10 Years. ; 20 Years. 24 Years. j Years. 10 Years. | 20 Years. 24 Yea] irs.j 5 Ys 'ears. 10 Years.; 20 Years. I 30 Years. I i I ] iii £ a. A. £ a. A. £ a. A. £ s. A. £ a. A. £ s. A. \ £ a. A. £ 15 3 10 6 8 0 ; 10 2 0 18 18 0 130 7 0 25 0 0 89 5 0 11 20 2 16 0 6 19 0 11 4 0 21 15 0 34 17 0 25 0 0! 89 5 0 11 £ s. A. £ a. A. £ a. A. £ s. A.£ s. d. £ a. A. j £ s. d.l £ s. A. £ s. A. £ a. A. £ s. A. £ s. d. £ s. d. £ a. A. i £ a. d. £ a. d. £ s. A. £ a. A. £ a. A. £ s. d. £ a. d. £ s. d. £ a. c 1 8 0 26 10 0 67 5 0 j 90 2 1 8 0 26 10 0; 67 5 0 90 2 d. £ s o 6 i: o 6 i: s. d. £ s. d. £ s. d. £ s. d. .1 0 15 8 0 37 8 0 72 1 0 .1 0 15 8 0 37 8 0.71 6 0 £ a. A. £ a. A. £ s. A. 15 3 10 6 8 0 ; 10 2 0 18 18 0 130 7 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 ' 90 2 0 6 11 0 j 15 8 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 37 8 0 72 1 0 91 3 0 20 2 16 0 6 19 0 11 4 0 21 15 0! 34 17 0 25 0 OJ 89 5 0 11 S 0 26 10 0:67 5 0 90 2 0 6 11 0 15 8 0 I '; 25 0 0J 89 5 0 11 8 0 26 10 0; 67 5 0 90 2 0 37 8 0.71 6 0!90 12 0 25 3 10 0 8 7 ol 13 8 0 25 15 0 40 7 0 25 0 0 89 5 0 11 25 3 10 0 8 7 0 13 8 0 25 15 0 40 7 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 25 0 o: 89 5 0 11 8 0 26 10 0 67 5 0,90 2 0 1 8 0 26 10 0 67 5 0,90 2 0 6 1: .1 0 15 8 0 37 8 0 70 14 0 •37 8 0 70 14 0 89 18 0 30 4 2 0 9 18 0 : 16 1 0 30 4 0 45 19 0 25 0 0 • 89 5 0 11 35 4 19 0 12 0 0 19 3 0' 35 5 0 j 51 17 0 ,25 0 0 j 89 5 0 11 j * 40 6 2 0 14 10 0 22 17 0 40 10 0 i 57 9 0 24 6 0 ; 88 7 0 11 45 7 7 0 17 5 0 26 17 0 45 19 0,62 4 0 23 16 0 87 14 0 11 50 8 17 0 20 9 0 31 0 0 51 4 0 65 14 0 23 5 0 1 87 0 0 11 30 i 4 2 0 9 18 0 16 1 0 30 4 0 45 19 0! 25 0 0 89 5 0 11 8 0 ;,26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 25 0 0 89 5 0 11 8 0;,26 10 0 67 5 0 90 2 0 18 0 ;,26 10 0 67 5 0 90 2 1 8 0 26 10 0 67 5 0 j 90 2 1 4 0 26 6 0 j 65 14 0 88 12 1 5 0 26 8 0 j 64 15 0 87 15 1 10 0 26 17 0 i 63 11 0 86 13 0 6i: o 6 i: o 7 ■ 0 0 .1 0 15 8 0 37 8 0 70 0 0 .1 0 15 8 0 37 8 0 69 6 0 4 0 16 19 0 38 15 0 68 12 0 37 8 0 70 0 0 89 3 0 37 8 0 69 6 0 88 6 0 35 4 19 0 12 0 0 19 3 0' 35 5 0 151 17 0 ,25 0 0 j 89 5 0 11 8 0 j 26 10 0 67 5 0 j 90 2 0 6 11 0 15 8 0 25 0 0: 89 5 0 I* 11 8 0 26 10 0 67 5 0; 90 2 0 11 4 0 26 6 0; 65 14 0 88 12 0 11 5 0 26 8 0 164 15 0 87 15 0 40 6 2 0 14 10 0 122 17 0 40 10 0 57 9 0 24 6 0 ; 88 7 0 11 4 0 26 6 0 j 65 14 0 88 12 0 7 4 0 16 19 0 24 6 0 J 88 7 0 38 15 0 ! 68 12 0 87 8 0 45 7 7 0 17 5 0 j 26 17 0 145 19 0 j 62 4 0 23 16 0 87 14 0 11 5 0 26 8 0 j 64 15 0 87 15 0 23 16 0 87 14 0 50 j 8 17 0|20 9 0 31 0 0 51 4 0 65 14 0 23 5 Oj 87 0 0 11 10 0 26 17 0 163 11 0 86 13 0 23 5 0 1 87 0 0 11 10 0 26 17 0 63 11 0 86 13 0 .. I I ' ■ 22 12 0 86 1 0 I 55 10 10 0 23 14 0:35 10 0:55 12 0i69 16 0 22 12 0 86 1 0 15 55 10 10 0 23 14 0 35 10 0; 55 12 0 69 16 0 22 12 0 86 1 0 12 2 0 27 12 0| 62 9 OJ 85 9 0 12 2 0 27 12 0:62 9 0 85 9 0 2 2 0 27 12 0:62 9 0 85 9 0 60 12 3 0 j 27 5 0 39 16 0 j 58 10 0 j 77 17 0 21 12 0 84 15 0 I 60 12 3 0 27 5 0 39 16 0 58 10 0 \ 77 17 0 21 12 0 84 15 0 21 12 0 84 15 0 I | III I ! I ; NOTE. —In addition to the above Values the full H M - 4§ per cent. Cash Value of all existing ordinary B< muses is granted.

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ACTUAKY'S EEPOKT ON THE VALUATION OF THE GOVERNMENT INSURANCE DEPARTMENT AS AT 31st DEOEMBEK, 1914.

Presented to both Houses of the General Assembly pursuant to Section 40 of the Government Life Insurance Act, 1908.

Wellington, 7th April, 1915. In accordance with instructions received 1 have made a valuation as at the 31st December last of the actuarial liabilities of the Department, with the object of ascertaining the net surplus available for division amongst the policyholders, and in compliance with section 40 of the Oovernment Life Insurance Act, 1908, I have now the honour to report the results of the investigation. Progress of the Depabtment. The progress of the Department during the last three years, when compared with the three previous trienniums in respect of new business and total business in force, is as follows : —

From the above it will be seen that not only has there been' a satisfactory increase all round in number of policies, sums assured, bonuses, and annual premiums, but the regularity of the increase has been conspicuous. The Consolidated Revenue Account, given below, shows the total income and expenditure for the past three years, and also the growth of the funds of the Department during the triennium. For purposes of comparison the Consolidated Revenue Account for the preceding triennium is also given.

New Business of Trie; inium. In Force at End of Triennium. ! Trion ilium. Number of. | Sums ; Keversionary i Annual Policies. assured. Bonuses. Premiums. £ £ £ 45,137 10,468,316 954,751 319,221 47,033 10,955,749 1,068,950 331,830 49,376 11,514,657 1,168,620 348,285 52,273 12,550,465 .1,246,610 370,882 Number of ; Sums Policies. assured. Annual Premiums. 1903-1905 1906-1908 1909-1911 1912-1914 £ .. ; 9,526 2,112,927 9,739 2,261,767 10,476 2,487,472 11,721 3,197,694 £ 70,423 72,803 77,477 89,715

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36

Consolidated Revenue Account.

It will be seen that the regularity of the increase of income and outgo has also been well marked. Income.— The chief item of importance, besides v substantial increase in the premium income, is the revenue from interest, which exceeded by £77,509 the interest earnings of the previous three years. The average rate of interest realized each year for the past six j'ears has been as follows :— Mate of Interest (deducting Taxes from Interest). £ s. d. £ %. d. 1909 .. .. .. ..472 1912 .. .. .. 4 7 11 1910 .. .. .. ..467 1913 .. .. .. .. 4 810 1911 .. .. .. 4 6 11 1914 .. .. .. 4 10 7 These figures were obtained by dividing the interest, less the mortgage and other taxes, by the mean of the funds at the beginning and end of the year, and they show that the rate of interest earned on the Department's investments has been more than maintained. Outgo. —The claims have considerably increased, but the death-rate is still much lower than assumed in the valuation, and the surplus has consequently received a large accretion from favourable mortality. The amount paid through policies maturing has steadily increased from year to year, and the sum received by policyholders during the triennium—£433,Bss —shows the important dimensions this form of thrift has now attained. The surrenders show a large decrease, as was anticipated, those for the previous triennium being considerably above the average owing to the number of policies relinquished immediately after the expiry of the Tontine Savings Fund No. 2. The decrease in the bonuses surrendered for cash is also attributable to the same cause. The Valuation. The business to be valued consisted of 52,273 policies, assuring £13,797,075 inclusive of bonus additions, and £22,523 immediate and deferred annuities per annum, the ordinary annual premiums thereon amounting to £368,723. The Department also receives £2,070 per annum, representing additions to the tabular premiums imposed when assurances are effected on lives which are estimated to fall below the requisite standard for any reason. These extra premiums are held to cover the current year's extra risk, and are not brought into the valuation as an asset. Basis of Valuation. —'Hie net premium method of valuation has been strictly adhered to, whereby the whole margin of loading has been reserved as a provision for future expenses. The H m Table of Mortality, with 3A per cent, interest, has been used, but an additional reserve of £108,000 has been added to the liability, making it equivalent to that produced by an H m valuation. The annuities were valued by the British Offices Life Annuity Tables (1893), using 3 per cent, interest. £ The value of the total liability under the several contracts is ... 8,110,987 Deduct the value of the future net premiums ... ... ... 3,407,168 4,703,819 Add special reserve of ... ... ... ... ... 108,000 Making an immediate net liability of ... ... 4,811,819 The accumulated funds (-after making further provision of £75,458 towards the Investment Reserve Fund) are ... ... 5,033,884 Difference, being excess of assets over liability, or gross surplus at 31st December, 1914 ... ... ... £222,065

Triennium ending 31st December, 1914. Previous Triennium. Triennium ending 31st Dece: iber, 1914. Previous Triennium. Funds at beginning of triennium Renewal premiums New premiums Consideration for annuities Interest Fees Tontine Savings Fund No. 2 transferred at maturity £ 4,699,970 986,253 89,689 39,264 700,918 22 £ 4,264,685 936,581 75,810 47,755 623,409 10 18,562 Death claims Matured claims Annuities paid Surrenders Bonuses surrendered for oash Commission Taxes Expenses Investment reserves Funds at end of triennium.. £ 485,688 433,855 53,269 166,724 18,694 72,045 46,947 129,552 75,458 5,033,884 £ 416,364 332,899 47,944 •197,055 24,712 58,151 39,152 120,565 30,000 4,699,970 Total £6,516,116 Total £5,966,812 £6,516,116 £5,966,812 •Ii icluding tbntim policies at maturity.

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The Surplus. Of the surplus of £222,065 (which does not include the interim bonus paid during the triennium, amounting to £17,052), I recommend that £9,057 be carried forward, and that £213,008 be divided amongst all the participating policyholders in the form of a uniform reversionary bonus per cent, on the sum assured and existing bonuses for each premium paid since the previous valuation. The result is that, after distinguishing between general and temperance policyholders in regard to profit from favourable mortality in the manner provided for by the Act, policies in the General and Temperance Sections respectively will again receive compound bonuses of 21s. per cent, upon the sum assured and existing bonuses for each year's premium paid since the last valuation, the total reversionary bonus so allotted amounting to £338,760. This compound bonus of 21s. per cent, is equivalent to a simple bonus commencing at 21s. per cent, per annum to new policies, and increasing with the duration of the policies to 335. per cent, per annum in the case of the older policies. In a report obtained for the Department from Mr. George King, F.1.A., the eminent British actuary, to which special reference is made in the Commissioner's annual report, Mr. Kingmentions, inter alia, that the compound bonus of 21s. per cent, per annum is a good one when it is remembered how very low are the premiums charged by the Department. A statement of this character from such a quarter is, of course, most gratifying, especially when I ■am able to say that an increase may be reasonably looked forward to in the future. The market price of Government and other securities quoted on the Stock Exchange has, of course, naturally fallen owing to the war, and it is satisfactory that the surplus has been sufficient to enable the Department to write its securities down to the lowest quotation and at the same time to maintain the high level of bonus allotted on the previous occasion. A complete valuation statement, prepared in accordance with the Government Life Insurance Act, 1908, is appended. Respectfully submitted, Percy Muter, The Government Insurance Commissioner. Actuary.

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Summary and Valuation of the Policies of the New Zealand Government Life Insurance Department as at 31st December, 1914.

FOURTH SCHEDULE.

Approximate Cost o) Paper.— Preparation, not given printing (1,750 copies), £85.

By Authority : 'John Mac-kay. Government Printer. Wellington.—l9ls.

Price Is.

! ' II DESCRIPTION OF THE TRANSACTIONS. I For Assurances : Institute of Actuaries' H"i Table, Particulars of the Policies for Valuation, Values p 3*% |nter«t .(adjusted to Hm 3 basis) r or Immediate Annuities on Lives : British Offices i Annuity Tables, 1893, 3% Interest. A CCTTD A ATPTTC INumberof Sums assured Office Yearly Net Sumsassured Office Yearly Net Net j Policies. and Bonuses. Premiums. Premiums, and Bonuses. | Premiums. I Premiums. Liability. i i i i 1 r r I ASSURANCES. ASSURANCES. T -\XrirV. + lnn 1 v, Of^f-He £ £ £ £ £ £ £ £ I I I.—With Participation in Profits. Whole-life Assurances —Uniform Premiums .. .. .. 8,949 Limited, Single, and Commuted Premiums 598 Endowment Assurances —Uniform Premiums.. .. .. 28,016 Limited, Single, and Commuted Premiums .. .. .. .. 238 With Extra Profits.. .. .. 97 Double Endowment Assurances —Uniform Premiums .. .. ' 10,140 Limited, Single, and Commuted Premiums .. .. 21 Deferred Endowment Assurances —with return of Premiums .. 34 Joint Life —Whole-life Assurances .. .. .. .. I 18 Survivorship Assurances .. .. .. .. .. 2 t t 3,i56,3M 329,302 6,443,735 78,350 20,433 2,692,249 2,121 6,150 8,702 562 £ I.—"With Participation in Profits. Assurances —Uniform Premiums Limited, Single, and Commuted Prei Assurances —Uniform Premiums.. 8,949 3, I 56,3 I 4 62,012 52,721 2,014,645 619,159 5 l6 ,774 1,497,871 imiums 598 329,302 468 385 231,671 1,796 1.462 230,209 .. 28,016 6,443,735 202,331 166,215 3,989.181 : 2,185,663 1,770,783 2.218,398 3.156,314 329.302 6,443,735 62,012 468 202,331 52,721 385 166,215 Limited, Single, and Commuted I Pre78,350 20,433 2,692,249 1,801 892 73,535 '*"-„„ _ „__ miums With Extra Profits., lowment Assurances —Uniform Premiums .. .. I 238 j 78,350 1,801 1,431 40,333 j I7,79i 13,930 26,403 .. 97 I 20,433 892 756 12,273 i 12,869 10,879 i,394 .. 10,140 2,692,249 73.535 62,380 1,262,850 94 I >777 7 8 9,984 47 2 ,866 756 62,380 Limited, Single, and muted Premiums .. idowment Assurances —with return of Premium Whole-life Assurances p Assurances surances Com- .. I 21 I 2,121 .. .. J ,456 ! .. .. ',456 is .. 34 6,150 113 93 242 .. .. 242 .. 18 8,702 360 288 4,940 4,34 2 3,449 ' I -49 I .. I 2 562 85 90 86 58 32 ( 18,805 ) .. I 74 J, and deferred Y 9 2 3 848 22,439 9,823 9,059 13,380 2,121 6,150 8,702 562 ( 18,805 -land deferred (annuity, £3,821 "3 360 8 93 288 j 5 ( Annuity Assurances .. .. .. .. .. I 74 j > 18,805 and deferred 923 848 1 | (annuity, £3,821 ) Reserve for extra Premiums extra Premiums Reserve of Loading rotal Assurances with Profits .... . . . . .. 807 . . .. 807 3,116,378 4,464,549 .. -j. .. ._■ ._. .. 5,974 Add 5,974 .- 48,187 12,756,723 342,443 285,122 7,580,927 j^, 3,1107404 4,470,523 annuity, £.3,021 i Additional Reserve of Loading .. .. .. .. __j^_ Total Assurances with Profits .. .. .. 48,187 12,756,723 12,756,723 285, 122 342,443 II.—Without Participation in Profits. Whole-life Assurances— Uniform Premium's .. .. .. 1,898 Limited, Single, and Commuted Premiums 3 Endowment Assurances —Uniform Premiums .. .. 3 IC j Deferred Whole-life Assurances —with return of Premiums .. 62 Deferred Endowment Assurances „ „ .. 246 < Joint Life —Whole-life Assurances .. .. .. .. 1 Survivorship Assurances .. .. .. .. .. 4 Industrial Assurances .. .. .. .. .. 3 Temporary Assurances .. .. .. .. .. 22^ Total Assurances without Profits .. .. 2,549 Total Assurances .. .. .. .. 5°,736 I. — Without Participation in Profits. Assurances— Uniform Premium's .. , Limited, Single, and Commuted Pre t Assurances —Uniform Premiums /hole-life Assurances —with return of Premiums ndowment Assurances -Whole-life Assurances ip Assurances Assurances 1,898 698,455 16,264 15,496 279,440 270,853 257,624 21,816 smiums 3 J^ 00 7 2 7° 7 2 4 j 522 505 219 310 j 89,362 2,768 2,518 43,283 41,878 38,083 .5,200 3 .. 621 S 0 ,^ 0 237 215 246; .. .. 246 246 53,300 779 69I I,28l ; .. .. I,28l I 500 22 10 275 278 246 29 4 4,°°° 64 53 364! 371 306 58 3 60 1 28 ..- .. 28 698.455 1,500 89,362 30,150 53.300 500 4,000 60 4.75o 882,077 13,638,800 698,455 1,500 89,362 53.300 5°o 4,000 60 4,750 16,264 72 2,768 237 779 22 64 60 15,496 70 2,518 215 691 19 53 Assurances 22 4,750 60 j 42 I .. .. 42 2,549 882,077 20.267 19,062 325,683 313,902 296,764 28,919 13,638,800 362,710 .'04- I s 1 7,906,610 4,107,208 3,407,168 4,499,442 108,000 4,607,442 ENDOWMENTS. Simple Endowments —with return of Premiums .. .. 322 Endowments —Premiums cease on death of purchaser .. .. oj6 Total Endowments .. .. .. .. T j,y ;~ "8,175 40,100 158,275 * Adjustment to place a? surance resei ves on Hm 3J fo basis 4>4 2 5 1,582 36,456 10,250 46,706 1 36,456 10,250 46,706 1,138 ijS.-?:,-6,007 •■ ■• I 1.13° ; 150.2-/3 ANNUITIES. Immediate .. .. .. .. .. 398 Deferred .. .. .. .. .. .. 1 Total Annuities .. .. .. .. _ 399 1 Total of the Results .. .. .. 52,273 (Per annum 1 18,682 20 18,7-T 1 3, 797. °75 and £22,523 per annum. 6 •• 148 157,671 157.523 148 157,671 399 18,7. 2 • • !3>797, °75 and £22,523 per annum. 368,723 and £2,070 extra premiun j (not valued). 304,184 8, no. 987 4,107,208 3,407,168 4,811.819 __!