The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-12-11 00:00:00

ADVANTAGES

The lowest Rates of PienlitlinJ.WiielCiutual System. Ruth
The whole of the Profits divided among the Assured every
Year.
No charge for Policy Stamps, nor for service in the YeolinnarY
or Militia Corps.
Policies in force, upwards of 7,000.
Arlo
The Assurance Fund amounts to .4'1,500,000. Income, upwards
of £240,000 per annum.
The sum of £397,000 was added to Policies at the last Difig.t.'
which produced an average Bonus of 43'67 per cent. on the r"
miums paid.
For particulars apply to
ALEXANDER MACDONALD, Secretary,
No. 6, New Bridge-street, Blackfriars, London;
or to any of the following
AGENTS:—
LIVERPOOL.... Messrs. T. 0. COOPER and SON, 7, Rubtf°
STREET.
Warrington Mr. Edward West.
f Selim Ilothwell, Esq.; or
Bolton Henry Glover, Esq. narA•
Chester Messrs. Edwards and Roberts, Old r.
Wigan ..... Thomas Frederick Taylor, Esq., Solic,"
Wrexham John Bury, Esq.
Ashton -under-Line.William Sunderland, Esq.

INDISPUTABILITY THE ONLY COMPLETE
SECURITY IN LIFE ASSURANCE.

(Extracted from " The Register.")
What is meant by an indisputable policy? In the first ple,
is unlike other policies ; the adjective being used to imply was—lao thing to mark and distinguish such a policy from all other vvh
cies. In the second place, it means much mote—it implies neat
the policy to which the epithet " Indisputable" is given ae°,.
be disputed, except upon grounds beyond the reaeh and pos's te
the contracting parties to control. In other wordaa the polic'
represented aa•being as indisputable as man can make it. ao
Nothing can be more embarrassing than the situation of a Tea,
who, after making payments to an Insurance Company for
twelve, or twenty years, on the supposition that by such
.Po's
ments,he has purchased for his family the absolute preperta !ors
reversionary estate, is then told that at his death his sUrViL,S.
may receive such prOperty, but that there is a great chance-1 Yost
sibility—amounting to a probability, that they may not ; anaasot
the contingency depends upon circumstances which he anal,
• foresee. Yet such is the position of those who areheld as I"__a'eet
responsible for the precise and literal accuracy of every statefioe
- in-numerous documents and schedules which precede the issaasa
of a policy. 'rake one of these schedules as an instance of ityvt
meats, upon the accuracy of each of which the whole Valuweaa
the- policy will ultimately be made to depend do her ad'
declare that my age does non exceed years ; that 1 have ad
b cow-pox or small-pox (state which); that I have (or have not) or,
the gout; that I have not been afflicted with any fit or dtsSaci
convulsions, nor with astbroarinsanity, Or spitting of blood r,
that lam not afflicted with habitual cough, diseases of the e;
nor with any other disease or disorder tending to shortenaref
and that the foregoing proposal contains a true stateastrost
every matter and thing thereby required to beset forth; aws coo•
lam now in+good health ; and do-declare that I have no. asst
cealed or withheld any matter or circumstance touching 00;iss
or present state of health, habits of life, or condition wnicb _pr
render an insurance on my life mope than usually hazardolaassa
I with which the Directors of this society ought to be oistac,4o,
quainted; and that my private referees are well aequaintedsTroy
and fully competent to give, the requisite information as l; the
habits of life. And Ido declare that thardeelaratiou shall "'at
, basis of the contract between me and the said society; a!daro •
if any true allegation or statement be contained in, the as op be
posal, or in this deelaratim„ or if any material inforass.S,aica
omitted which ought to be contained therein,- all !none/5 a' sit
of
shall have been or shall be paid to the said-society, ow aect)aaatta
such insurance, shall. be forfeited to the-use of the said w—
and the policy be absolutely null and voids"
Now, looking at the wording of this clause, it may. be R- ppl,
without much exaggeration, that there is no human beitas toe
earth who, looking on it as the literal condition of his-aaat Did
with a company, can possess a certainty that- the event. f_ato
death will place his family in possession of the sum speclre pa-
the agreement. It is a professional notoriety that thereaairea-
menus diseases which maybe in active play long before aa aa, tae
istence is suspected by the patient or any one else,- Yetaa"aleaer
contrivance Of making the proposer warrant the literal TOOL
of numerous statements, the clause above quoted woltpleil„
and nullify the policy, if it could be propveadrtythae,tactl:ienginf:::;,:.,
had commenced his ravags-at the period when. the ion ~stu:;
walaisened. The responsibilityof the
anee unconditionaa and wholly irrespective of
.abeaconeel,
whether the " omission" of anyfact. material or tin trotter'
tr
wiTlfhegloprernsootn. who makes the statement must not on aefarre that he makes no wilful mis-statement —that he licts-^no, ,AyOr
ei'retdecl:f d
ehfelddeeajegny rn„bautttetrhoartcliirechuamssntaentced,ms",easendaotbesellr.v delibera's
radon jar
quired is absolute as to circumstances.or possibilities beyond a
sphere--of human knowledge; and the responsibily of 'the deacoae
rant equally absolute, no matter how innocently be maY- "
been led, into error.
All the authorities are of the same opinion as to the sole and
_ unat
divided-responsibility of the assured.- Thus, Lord Eldon-will la,.
hear of any distinction as to whether an omission has been Ma,
terial or immaterial. •` If material,"' his Lordship obaervesi ..the..
a materiality
may be inquired into and shown ; but it there be e
i warranty, it s part of the contract that the matter is such as-it-is
represented to be ; therefore materially or immatealitysiguttles
nothing. The only question is as to the mere fact." This-opinion
has been.affermed, to the total ruin of families, by numerous deci
sions of the Courts.
he art),
narrow •the meshes which are entwinedounde
ni *earon
It may perhaps be supposed that however close the net nom.
life is the subject of assurance—however toia'", aarastrtgako,
and liable to error are the facts, and yet strinrn tiaoa to
of law are the terms of the declaration he is called, „A-a, crerr,..
v. Lilts. c 61.11 1.41 1. tray cart. SA" 0.17.00 out,that
mend, nescape without a forfeitureof his riolicY'iuded Of. bun
cannot do a for there is something yet more de
'lntent in' Which
before he. becomes entitled to a policy—a requirement
the greatest amount of care, and prudence, andnisrce
racy Lao( no avail. The proposer musts givetheP artswerS'
cal attendants and two friends, each of,whom returns so
to a long. list of questions, and the facts and statements
Abe not a..
received, by the company, although the propose odl,
acquainted with any one of them, are yet a&MUCY s_Ufilnocent •
wilful or
warranty as his own declaration, so thaa a
refeloes will
sheen-:
ruarrieusilfs
error in. answer to any of the questionapulato these d
frona.the
as effectually vitiate the policy as ifs had, preac e _aale,os the
assured himself. We can make room for only one exa1"..a.....aa of
provisions-just noticed, which we select from a ce,
similar casesaand from the practice of &highly respect sad
Wilahere v.. The Law Life. Wilshere resided near Lonaaaa ais
on several occasions had consulted a London physiciqn as_ la He
health, besides having the advice of a.elanntry gentleranataffer
came-to London to effect an assurance on hialife, and. r' ss"
to the question,. " Who is your ordinary medical atteTaahose •
largelle.weifi
gave- the name and address of the London physician,
with 'C'tor°l'
report; and that of their own medical examiner, the direr here
the company were satisfied. Some years alter that ai.s
died, and his.eaecutors were defeated iu. a claim against ,"00511,
patty for. the suns assured, merely, cad spoil no other qiesn,
because the name of the surgeon, and nut tlaat of the OP
ought.to havebeen. inserted in the proposal.
e
In consequence of this state of matteas,therearosein tij ptias°
mind a general feeling of insecurity in Life- Assurance, libel 0°1;1
increased by the perusal of numerous cases occurring i 0
aat at ta
of law and reported in the newspapera, most of °
instance of assured parties against Life-Companies, hutZ„therl.
them in,whichLife Companies were arrayed against eWa, se 'l'l
The great desideratum was to make poliiies indispolsw"o the
to remove all doubt, and dissipate every apprebensioa as due;
certainty. of the stun assured being paid when it becaroasioese'
whereby the public generally would be-benefited, and the-"
of;Life Assurance much extended. tal114"
" The liadisputable Life Policy Company"undertook.lo'
s amain order most effectually to make the policies they isa“;d, tits
disputable and certain documents of, security, they Arise
men
following, clause is their Deed of Settlet,. theiebY. ere O
Oa
an effective and legal-obligation, imperative upoiathe Cl)MP.saaa
fulfil, andov.hida it is the right of every assured member to v
and insiat upon hallb!
Clause "That every Policy issued by the ConspanY 0111
indefensible and indisputable, and the fact ofisaeise Mg
shall.be- conducive evidence of the. validity of tile-Policy; 740'
shalt not be lawful far the Company to delay payment ,
money. asiursd thereby, on the yrcuoad of-any error, psistiver-
omission,-ho.vever important, made by or on thepart of toe lion;
son or persons effecting such Assurance; and that, on tlO, 1i
n. to
t.,, the- amount so assured skull, be paid at Ms time itipThen
bythe, Poliey, as if iso such mar,' *stake, or mission, Ito'
made on discovered."
of
We-have said that the above-clause forms apart of the Van is
Settlement of the Company, and that . deed being* segiste!`; to
terms. of the Act 7 and 8 Vict..a. Ile. there is nothing vcantlo,:ra.
give-it the fullest effect. It is not merely to. be found in aa on
spectua or other circular, which-Pay _°r. tray net be abaeatorlur
the- Company, according to,circuaistances, but it forms a coca,
portent part of the existence- of the corporate body. A. mere
- r`;
raise of indisputability is not enough.. Such a.clause as. the 0°
is required to give legal elica7
CY- It appears to
purpose hays
of cutting been ca
0"
fully and anxiously prepared, for the 2111.1 - validity of tbe
every ground and pretext of dispute as. to. the -
Policy; and we confess that we cannot fillatallY words or aeries
ry for that
of sentences more operative, , effective, or. coropoiso
purpose. In order the more effectually to show the
would invite onr readers, to compare this. clause_ saaasages
law as laid down by, Sergeant Marshall in
already quoted from, that learned. authority.
..„-„"any shan
putable clause says-9 livery policy. issued. by the C°`"" age WO
be indefeasible and indisputable, and, the fat* of , gr.
shall be conclusive evidence of the validity of the
Sergeant Marshallaspeaking of the clause ordinarily ii►tze
policies, says, "It isquite immaterial for what parnowio the
what view it is warrant] is made ; buts being once inserteda unless
policy, it bedomesubinding condition on the assured, _
he can show that it has been complied with, he can d rtrad,
benefit from the-policy." In other words, an indisputable P0.1.',11
rted
when once issued, declares that,. defect°, all precedent quesaiial
are held to have been finally settled, whereas an ordinary Per tA
declares on the face of it that the Directors retain the Powolif
keep all these questions open to dispute, until they have acaajirs
paid the amount of the policy to the executors. Again, the 1y
putable clause says, "it shall not be lawful for the ContrA,,7oo
delay payment of the Money assured, on the ground of
cant
of or, omission, however important, made bor on tb:geall
of the person or persona effecting such insurance.' Mr. war,'
Marshall, on the other hand, says, "The very meaning of
ranty is to.preclude all question whether it has been substWterie
complied with or not. Whether the thing warranted was ts3eoca
or not, whether the breach of it proceeded from fraud, neeagort
misainformation, or any other cause, the consequence is tileatab
—i.e„ the policy is void." In the next place, the indisi'd she
clause says that, "on the contrary, the amount so assure error'
be paid at the time stipulated by the cy, as if nO so%r. nv,
mistake, or omission, had been made orbdiscovered."' ',
geant Marshall says, "The warranty makes the contrac` oiler
thetical ; that is, it shall be binding if the warranty c°, Vlsc
with. The only question is, has the thing warranted okra e+l„
or not? If not, the assurer is not answerable for anY l°,Viaaof
though it did not happen in consequence of the breach of `...01,4e
misty." Can anything be more conclusive than this istaiaotal'es
the superiority of the Indisputable Policy? The lataaasaaes`sr' t
Policy settles all precedent questions—an ordinary Ponlie flip,
them all unsettled. An Indisputable Policy declares, by
fact of its issue, that all questions relating to the health, ea? t,
age, &c., of the assured are, as far as the Company is C'e,pnCpol°
set at rest for ever—an ordinary policy leaves . the.'" edak
, open to dispute, until the claim has actually been discharf atre
London Indisputable Life Policy Company, 73,Lombarer'
' —Manager, ALEXANDER ROBERTSON.

NEW WINTER DRESSES.
FRENCH ME RINOES.—A large Stott;
Imported direct, commencing with a Steil'
Article in every colour, at 2s. 100. per yard. t
LINSEYS.—This Fashionable Article, in all Colour.,
hz
best quality, 11id. per yard.
FLOUNCED ROBES.—AII the New Styles, from 145'
to 31s. 6d. each.
in'
FANCY DRESSES.—Every New and Useful StY,, e'd,
cluding Two very Cheap Lots, at 12s. 9d. and 15s. 9

ItARRISON ,
60 and 62, CHURCH-STREETB,ROTHERS corner of Hanover-,tree'

LIVERPOOL : by o,e
~
Printed and Published every TUESDAY MORSIN,I3; S(!;.;0

Proprietor, ROBERT PEARSON THACKER, °,2.110411%,
Percy-street, at the STANDARD GENERAL P'". rpool'
OFFICE, No. 4, ST.. GBORGIE's CRESCENT,
Tuesday, December 11, 1855.