THE PRINCE OF WALES’S INSURANCE.

New Zealand Graphic, Volume XXIV, Issue VII, 17 February 1900, Page 295

THE PRINCE OF WALES’S INSURANCE.

The Prince cf Wales is the heaviest risk of any patron of the insurance business, and his death would cost English, German, French, and American eompanSes not less than £2,000,000. “No other person,” said a big insurance man, “carries 20 per cent, of the insurance, but comparatively little of it is for the benefit of his family, perhaps not more than £ 200,000.

“It is a. curious fact.” continued the insurance man,” that £400,000 or £600,-000 of insurance, perhaps more than that, has been placed on the life of the Prince of Wales as a

speculation by persons who do not know him and have never had any with him whatever. This would not be possible under the insurance laws of the United States, but it is allowed by some of the English companies. In England any man may secure a policy on the life of a neighbour, provided that he can persuade the neighbour to submit to a medical examination, or find a company which has recently had him examined.

“Thus, when the Prince of Wales undergoes an examination for insurance, lots of speculators apply to the same company for insurances on his life, or get certified copies of the report of the medical examiner and use them with other companies. It is pure speculation. They pay a high premium—a margin, so to speak; or, to put. it in another way, they book a wager with the insurance companies that the Prince will die before the total of their premiums exceeds the amount of their policy. “Therefore many persons would lie financially benefited if Albert Edward should drop off suddenly one of these fine days.”