The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-09-04 00:00:00

PRINCESS This Day Sept. 4.. at 4 o'clock, P.M.
PRINCESS Saturday .... Sept. 8.. at 8 o'clock, P.M.

PRINCESS Thursday

Sept. 13.. at *2 o'clock, P.M

PRINCESS Tuesday' .... Sept. 18.. at 3 o'clock, P.m.
PRINCESS Saturday .... Sept. 22.. at si o'clock, P.M.
PRINCESS Thursday.... Sept. 27.. at *2 o'clock, P.M.

From Clarence Pierhead on days marked *.

N.B.—Goods for shipment on the days marked * must be
alongside the vessel three hours before appointed time of sail-
ing, other days one hour.
Fares—Cabin (including Steward's Fee), 155.; Steerage, 6s.
Servants in Cabin, Full Fare.
•
ROBERT LAMONT, 17, Water-street, Liverpool.

Ensuranrc Noticz.

INDISPUTABILITY THE ONLY COMPLETE
SECURITY IN LIFE_ ASSURANCE.

(Extracted from " The Register.'
What is meant by an indisputable policy? In the first place, it
is unlike other policies ; the adjective being used to imply some-
thing to mark and distinguish such a policy from all other poli-
cies. In the second place, it means much more—it implies that
the policy to which the epithet " Indisputable" is given cannot
be disputed, except upon grounds beyond the reach and power of
the contracting parties to control. In other words, the policy is
represented as being as indisputable as man can make it.
Nothing can be more embarrassing, than the situation of a man
who, after making payments to an insurance Company for ten,
twelve,- or twenty years, on the supposition that by such pay-
ments he has purchased for his family the absolute property in a
reversionary estate, is then told that at his death his survivors
may receive such property, but that there is a great chance—a pos-
sibility—amounting to a probability, that they may not ; and that
the contingency depends upon circumstances which he cannot
foresee. Yet such is the position of those who are held as wholly
responsible for the precise and literal accuracy of every statement
in numerous documents and schedules which precede the issuing
of a policy. Take one of these schedules as an instance of aver-
ments, upon the accuracy of each of which the whole value of
the policy will ultimately be made to depend :—" I do hereby
declare that my age does not exceed years ; that 1 have had
cow-pox or small-pox (state which); that I have (or have not) had
the gout; that I have not been afflicted with any fit or fits, or
convulsions, nor with asthma, insanity, or spitting of blood ; and
that I am not afflicted with habitual cough, diseases of the lungs,
nor with any other disease or disorder tending to shorten life;
and that the foregoing proposal contains a true statement of
every matter and thing thereby required to be set forth; and that
I am now in good health ; and I do declare that I have not con-
cealed or witkheld any matter or circumstance touching my past
or present state of health, habits of life, or condition which may
render an insurance on my life more than usually hazardous, or
with which the Directors of this society ought to be made ac-
quainted; and that my private referees are well acquainted with,
and fully competent to give, the requisite information as to my
habits of life. And Ido declare that this declaration shall be the
basis of the contract between me and the said society; and that
if any true allegation or statement be contained in the said pro-
posal, or in this declaration, or if any material information be
omitted which ought to be contained therein, all moneys which
shall have been or shall be paid to the said society, on account of
such insurance, shall be forfeited to the use of the said society,
and the policy be absolutely null and void."
Now, looking at the wording of this clause, it may be affirmed,-
without much exaggeration, that there is no human being upon
earth who, looking on it as the literal condition of his contract
with a company, can possess a certainty that the event of his
death will place his family in possession.of the sum specified in
the agreement. It is a professional notoriety that these are nu--
merous diseases which may be in active play long before their ex-
istence is suspected by the patient or any one else. Yet, by the
contrivance of making the proposer warrant the literal accuracy
of numerous statements, the clause above quoted would vitiate
and nullify. the policy, if it could be proved that the invisible foe
had commenced his ravages at the period when the instrument
was,issued. The responsibility of the party effecting the assur-
ance is unconditionsvvand wholly irrespective of the contingency
whethei the " omission” of any fact, material or immaterial, were
wilful'or not.

The person who makes- the statement must' not only declare-
that he makes no wilful mis-statement—that he has not "
wither
held any matter or circumstance," and observe, not deliberately or
of design, but that he has not done so at all. The-declaration re
quired is absolute as to circumstances or possibilities beyond the
sphere of human knowledge ;• and the responsibilr of the decla-
rant is equally absolute, no• matter how innocentlrhe may have
been led into error.

All the authorities are of the same opinion as to the sole and un-
divided responsibility of the assured. Thus, Lord Eldon will not
hear of any distinction as to whether an omission has- been ma-
terial or immaterial. "If material," his Lordship observes, "that
a materiality may be inquired into and shown ; but if there be a
warranty, it is part of the contract that the matter is such> as it is
represented to be; therefore materiality or immateriality:looes
nothing. The only question is as to themere fact." This opinion
has been affirmed, to the total ruin offamilies, by numerous deci-
sions of the Courts,

It may perhaps be supposed that however close the netrand
narrow the meshes which are entwined round the party whose
life is the subject of assurance—however minute and important
and liable to error are-the facts, and yet stringent in construction
-of law are the terms of the declaration be-is- called upon to make,
yet that by great care he may be able to comply with every de-
Mend, and escape without a forfeiture of his policy. But that he
cannot do; for there ie• something yet more demanded of him
before he beComes entitled to a policy—a requirement in which-
the greatest amount of care, and prudence, and scrupulous accn--
racy is• of no avail. The proposer must give-the names of medi-
cal attendants and two friends,' each of whom returns answers-
to a long list of questions, and the facts and statements se
:received by the company,:although the proposer is not made
acquainted with any one of them, are yet as much the subjects of
warranty as his own declaration, so that a wilful or innocent
error in answer to any of the questions put-to these referees will
as effectually vitiate the policy as if bad pre.teded from the
assured himself. We can make room for only one example of the
previsions just noticed, which we select from a-large family of
similar cases, and fisom the practiceof a highly respectable office,
Wilshere v. The Law Life. Wilshere resided Rear London, and
on several occasions had consulted a London phy.sinSii as to his
health,- besides having the advice-of a country gentleman. He
came to London to effect an assurance on his life,. and,.in answer
to the question,. "Who is your ordinary medical attendant?"
gave the-name and address of the London physicisan, with whose
report and that of their own medical examiner, the director of
the company were satisfied. Some years after that, Wilshere
died, and his-executors were defeated in a claim against the coal-
patty for the suns assured, merely, and upon no. other ground,
because-the name of the surgeon, and not that of the physician,
ought So-have been inserted in the proposal.
In consequence of this state of matters, there arose n the-public
mind a general feeling of insecurity in Life Assurance, which was
increasetby theperusal of numerouscases occurring.in the courts
of law and. reported in the newspapers, most of them. at the
instance-of assured parties against-Life Companies, but many of
them in which Life Companies serve arrayed against each.other.
The g,restdesideratum was to make. policies indisputable, so as
to remove all. doubt, and dissipate every apprehension •as to the
certainty of the• sum assured being paid when it became due;
where.by the-pnbli, generally would be benefited, anchthe -buainess
of Life Assurance much extended,

" The Indisputable Life Policy Company" undertook.this• task,
and in ordermost effectually to make-the policies they issued in-
disputable- and certain documeuts, of security, they..inserted the
following clause in. their Deed et Settlement, thereby creating
an effective slnd legal obligation, imperative upon the-Company to
fulfil, and which it is the right of.every assured member to-plead
and insist upon :
Clause " That every Policy..issued by the Company shall be
indefensible, and, indisputable, and, the:fact of issusius. the• same
shall be soncluslve evidence of the, ....misty if the Poi-icy;: nsa it
shall not be-,lawful for the Company, to delay payment of the
money as wrest thereby on the ground, of any error,..inistake, or
omission,hoicecerimportant, mode. by,or on the part of the per-
son or pemons. effecting such Assurance; and that; on the con-
trary, the-amount so assured shalt- bepaid at the time stipulated
by the Policy, as if no such error, mistake, or onaistiou,.had been
made or discorered."

We have said that the above (dune forms a partaLthe,Deed of
Settlement ,of- the Company, and that deed being. registered in
terms of the Aet 'r and 8 Viet- c: 110, there is nothing wanting to
give it the fullest effect. It is not merely to be- found,in a pro-
spectus or othercircular, which may or-may not hisobligatory on
the Company,. according to circumstances, but it forms a com-
ponent part of the existence of the corporate body. A mere pro-
mise of instleputa4ility is not enough_ Such a clause as.the above
is required to give legal efficacy.. It appears to, have been care-
fully aad: anxiously prepared.. for the purposa -of cutting off
every wound and pretext ofi dispute as to the _validity of the
Policy; and we- confess that we •cannot .find any words or series
of sentences. more operative,. effective, or compulsory for that
purpose. _ in order the more effectually to show this, we
would invite- our readers, to compare this. olause with the
law se. laid. down by Sergeant Marshall. in. the passages.
already.„ quoted from that, learned authority. The india-
putable,clatioat says—" Every.poliey issued by theCtstupany shall
be indefeasible and indisputable and the fact of, imufrag the same.
shall be conclusive evidence of the validity of the- policy." Mr.
Sergeant Marshall, speaking of the clause ordinarily inserted it
policies, says, "It is quite. immaterial for what purpose or with
what view it [a warrant, is-made; but being once inserted in. the
policy„it :becomes a binding.coesition on the-assured, and unless.
he can show that it hes.heen complied with,, he can derive no.
benefit from the policy."' In other words, anindisputable policy,
when once issued, declares that, de facto, ail precedent questions.
arebeld to have been _finally settled, whereas, as ordinary policy
declares. on the face of it that the Directors retain the power to
keep at) these questions. open to dispute, until. they have actually.
p,aid the amount of the polizy to the executors, Again, the indis,
• pufatale clause says„." .It shall not be lawful . for the Company to,
delay payment of the money assured, on the wound of any, error-
mistake, or omissiou, however important, made by or on the past
of title person or persons. effecting such insurance.' Mr. Sergeaat
• Marshall, on the other loand, says, "The very meaning:a a. war-
ranty is to preclude all westien whether it has been sabstantibtly
complied with or,not, Whether the thing warranted was material
or not, whether the breech of it proceeded front frandoegligauce,
rills-information, or any other cause. the-consequence is the. same
—i.e, the policy is void." In the next; place, the iridispuable
clause says that„" tea the contrary,, the amount so. assured shall
be paid at thajime stipulated by the policy, as if no such error,
mistake, or omissiou, had been made or discovered., ° my. ser-
g:Lhieeathtni.tcaAlilibarstelinatllyli.ssq,atytesithi.oa,nlTihibse,ewbbaaisrgenetnyslymngtahkweeaswratliatcenodtynttiirs,:crt. Ipplylayecoae,
or not? If not, the assurer is not: answerable for any Loss, even
cpnclusivet .than this in proof of
nbeinmcoorzueettence of the brea.ch cif the war-
ranty."
relatinto the health, habits.,
the
thews
y. superiorityairutesao : leiode.
precedentthAenlndisputable
Indisputableesquestions—an
n splLoo
la!
a?-e Ti a
ordinaryhees, policy
yd indisputable
n ztaebrl
leavesae
'autsnisluai
ltretandi
el a
claim
a,,;ams farhas as thei I Companyd is
hcalrngceedr.n
fosaaegptceet7i°ttiCicatiosfpif:utohtree:ever—an ordinary policy leavesalt these points
hou g
h it diC
adn riot
anythingha
been discharged.
London Indisputable Life Policy Company, 72, Lombard-street.
—Manager, A LEXANDE.A.ROBERTSON.