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

SEACOMBE NEW BRIGHTON

HUYTON,

ROBY, RAINHILL

ROCK FERRY,

To Order left or sent by Post to the Undersigned,

23, CASTLE-STREET, LIVERPOOL

Or to the following Yards and Offices, viz.:--11, CROWN-STREET, Liverpool ; EGERTON DOCK QUAY, Birkenhead; DamEAN-

STRBET, Seacombe.

W. and H. LAIRD.

23, Castle-street, Liverpool.

[DECEMBER 11, 1855.

insurance Notices.

ECONOMIC LIFE ASSURANCE
SOCIETY.
HENRY FREDERICK STEPHENSON, Esq., CIHDTRISR•
ROBERT HIDDULPH, ESQ., Deputy-Chairman.
LIVERPOOL AGENCY.
T. 0. COOPER and SON, 7, Rumford-street, Agents.
FRED. WORTHINGTON, Esq., Medical Referee.

MANCHESTER LOCAL BOARD.
DIRECTORS.
Henry Houldsworth, Esq., Chairman.
John Bannerman, Esq. William Shorter Stell, gag
Archibald Finlay, Esq. Robert Stuart, Esq.
George Parr, Esq. Samuel Watts, Esq.
ACTING DIRECTOR—Joseph Chesborough Dyer, Esq•
PHYSICIAN—Sir James L. Bardsley, M.D.
SURGEON—J. A, Ransome, Esq.

ADVANTAGES
Tile lowest Rates Of Premium on the Mutual System. 0;0
The whole of the Profits divided among the Assured every
"6
Year,
No charge for Policy Stamps, nor for service in the Yeoostirl
or Militia Corps.
Policies in force, upwards of 7,000.
The Assurance Fund amounts to .e 1,500,000. Income, UP
of £240,000 per annum.
The sum of £397,000 was added to Policies at the last D ore.
which produced an average Bonus of £67 per cent. on the
miums paid.

For particulars apply to
ALEXANDER NIACDONALD, Secretary,
No. 6, New Bridge-street, Blackfriars, London'
or to any of the following
AGENTS
Messrs. T. 0. COOPER and SON, 7, RIM(Wir

LIVERPOOL
STREET.
Warrington .... Mr. Ed ward West.
Bolton f Selim nothwell, Esq. or
1 Henry Glover, Esq. OS'
Chester Messrs. Edwards and Roberts, Old nr,
Wigan .. Thomas Frederick Taylor, Esq., SODCI
Wrexham John Bury, Esq.
Ashton .under-Line.William Sunderland, Esq,

INDISPUTABILITY THE ONLY COMP
SECURITY IN LIFE ASSURANCE.

(Extracted from" The Register.")
What r
is mtant by an indisputable policy? In the first -"lan6eo;e:
is unlike other policies ; the adjective being used to implt_s",,oll*
thing to mark and distinguish such a policy from all other
cies. In the second place, it means much more—it inWlitoes,
the policy to which the epithet " Indisputable" is given
be disputed, except upon grounds beyond the reach and POOP
the contractine parties to control. In other words, the Pvrepresented as being asindisputable as man can make it. 0.0
Nothing can be more-embarrassing than the situation oVrtsla
who, after making payments to an Insurance Compani 1° liSr
cb
twelve, or twenty years, on the suppoeition that by eu_ntie
ments he has purchased for his family the absolute propel:Joel
reversionary estate, is then told that at his death his se" IA
nay receive such property, but that there is a great cisancel Or,
sibility—amounting to a probability, that they may not; 2°,00F:
the contingency depends upon• circumstances which be isoil
foresee. Yet such is the position of those who are held se.eoo,
responsible for the precise and literal accuracy of every eta.r.aaillo
in numerous documents and schedules which precede the. yep
of a policy. Take one of these schedules as an instance note'
ments, upon the accuracy of each of which the whole Moll
the policy will ultimately be made to depend Ide r:,;10A
declare that my age does not exceed that I ba,sylbt
.
cow-pox or small-pox (state which); that I, have(sr have Am
the gout;. that I have not been afflicted with alb), fit or:A%
convulsions, nor with asthma, insanity, or spitting of blonjoe
that I am not afflicted with habitual cough; diseasersof the 019
nor with any other disease or disorder tending toshort...ori
and that the foregoing proposal contains a' true etatewnd
every matter and thing thereby required to beset forth; 9",tti
I am now in good health ; and I do declare that' I. hfr/epP
cealed or withheld any matter or circumstance touching.. 071
or present state of health, habits of life, or condition W,lOO,
render an insurance on my life more than usually. hatef....of
with which the Directors of this society ought to be 'so_4
quainted ; and that my private referees are well acquaint/0n
and fully competent to give, the requisite information
bt
habits of life. And -I do declare that this declaration eba orldr,, •
basis of the contract between me and the said societyl'.id.
if any true allegation or statement be contained iwthe 100,5
pusal, or in this declaratioL, or if any material infort9, 05(
omitted which ought to be contained therein, all monk sot
shall have been or shall be- paid to the said society, on oCf
such insurance, shall be forfeited to the use of the 8104 ji
and the policy be absolutely null and void." stOrn);?.
Now, looking at the wording of this clause, it may be .0.04
without much exaggerction,. that there is no human irel,2,efro
earth who, looking on it as the literal condition of his g of
with a company, can possess a certainty that the evenevoi,
death will place his family in. possession of the sum el'a. ti•ps:
the agreement. It is a professional notoriety that there., a,
merous diseases which may.bcin active play long belcset: !Alt
istence is suspected by the patient or any one Mee- ,ccesle
contrivance of making the proposer warrant the Merolla ot
of numerous statements,. the clause above quoted 'o.°Losibleent
and nullify the policy, if it could. be proved that the strOur.
had commenced his ravages at the- period when the Irt'be ass
was issued. The responsibitisysof the party etiectiloppaarers'
ance is unconditiona,, and wholly irrespective of ar.„ezite rral' .
whether the " omission" of anylactonaterial or ifs"- Glare.
wilful or not.
OnlY Cie IV
The person who makes the statement mu
striot not " or
that he makes no wilful mis-statement—that be btliberatr"re,
held any matter or eircumstance,l7 andobserve, sr°ill.l-isratiorloi
of design, but that he has not done so at all. The,.;;-peyon.d lY
quired is absolute as to circumstances-or possibtiq. of the effoi
sphere of human knowledge; and the resporetil be may
rant is equally absolute, no matter-how igloo"—
been led into error.
All the authorities are of the same opiniOn' n'Llg.ctiley,krolne %tilt"
divided responsibility of the assured.. Thus,• been
hear of any distinction as to whether.an.omission ,0
terial or immaterial. "If material,"-lii-s-LordshipObler,r. Yf _,
tnhqeuci inquired ncttot mit
Stich ate!
represented to be; therefore materialify or initmatesialityMW
warranty, it iiiyismpaayrtboefi shirmwanttet"int
nothing. The only question is as to themere fact?' This ofl'Aeir
has been affirmed, to the total ruin of families,. by nunterolla'
sions of the Courts. sea
It may perhaps he supposed that however eese the netb-00
narrow the meshes which are entwined round, the party:ol

life-is the subject of assurance—however minute anti Llur,„""c`tioS
and liable to error are the facts, and yet stringent irs et!"7,;;iisee,
Of law are the terms of the declaration he is calird.:{anwery de;
yet that by great care he may be able to cl"nZsh)e'y. pl
wand, and escape without a forfeiture-ofhis 1). ,einande!!!),,,,bic.ll
cannot ; for there is something yet 'snore :1,,,,tr,t1 wadi•
re"! e-naMes wart
Wires, ninVinr.s erkSl6ficittinaePilialt glve t° returns
cal attendants and two friends, each el -whom. ,
ao
to a. long list of questions, and the- facts and -7; not alai
received by the company, although the, prOPo7iro;„ subjects:oi
accluainted with any one of them, are Y
"et 85
ruucilful or ing°c;il
warranty as his own declaration, so that ",.iiese refere_e° able
error in answer to any of the questione--put to t ale
as effectually vitiate the policy as it had Preeenplee; ei
assured-himself. We can make room for only one e_,,,taisiiiice
provisions just noticed, which we select frOola hic,irtobletw;o,l
similar casts, and n the practice of a.highly resC`, „iglo' his
Wilshere v. The Law Life. Wilshere resided near IV* ati to 00
on several occasions had consulted a Loudon phYSiespao•f
health, besides having the advice of a country gen in 015..7,,
caine to London to effect an assurance an his life, oes7tearnos
to the- question, " Who is your ordinary.medical ref
gavedhe name and address of the London phylietaTe' airerteberis
report and that of their own medical s.xaminer, tt' Wits 02.
the company were satisfied. Some ysars after thest,the co d,
died,, and his executors were defeated in_a clairmags!rilho polo,
pally, for the- sum assured, merely, cad • upon no 11_ „wig°
because the name of the surgeon, and not that of- to" blic
ought to-have been inserted in tlie proposal. h 0
ia,t-e by'
In consequence of this state of matters, there arose fp
tnicd.a general feeling of insecurity in Life Assurance) wallies
increased. by the perusa lof numerous cases occurring-t,!,0, at of
of law and reported in the newspapers; most of titiassir,
instance of assured parties against Life Companies, b_„eti,ollso
them in which Life Companies were arrayied against_.7,ol9,B tbt
The great desideratum was to make golicies indisim"_, 0 Wool
to remove all doubt, and dissipate every apprehenso,..ine „es/
certainty of the sum assured being paid when it he'-assfr
whereby the public generally would be benefited, and-the tAr
of Life Assurance touch extended. Ohifr d
" The Ludisputable Life Policy Company!? undertoo
and in order most effectually to make- the,-policies theY„seffvtiOi
disputable and certain documents of security, thee.r crly,
following clause in their Deed of Sattkwwnti there4topOki
an effective and legal obligation, imperative upon.the
fulfil, and which it is the right of every assured mewl° arti
and insist upon:—
opareKr
Clause 84.. " That every Policy ismed by ths
indefensible and indisputable, and the fact of issatin,q.Aaiir,
shall be conclusive evidence of the validity of the, Po'IV
shall not be lawful for the Company to delay ',One'',
money assured thereby on the ground. of any ernor,,,fitt'l
omission, however important, made by or on the pall „'",,.!Piai
son or persons effecting such Assurance; and that. "AO, NO
Crary, the amount so assured shall. be paid at the Nog,
by the Policy, as if no such error, mistake, or omissioP, 01
made or-diseosered."
,he
We base said that the above clause forms a part of `Listel„se'
Settlement of the Company, and that. deed being
termsdt the Act 7 and 8 Viet. c. la.. there is 110tbiRg 00
give it the fullest effect. It is not merely to, be foito'-stOusr
spectu&Or other circular, which may or -may not be oblig COry
the Company, according to circumstances,., but it f°,7;fe1!,7014
pOnent part of the existence of the corporate-body. the 0 ,fr
anise of indisputability is not enough. _Such &clause ss._`,.o //'Ol
is required to give legal efficacy.. It appears-do have to
fully and anxiously prepared,-for. the Purpose of ~,ckst
every ground and pretext of dispute as to the valna,, 01,0
an wem ocorenfoepssertaltiaivte7effcescniniNo,et, fint:..411.01740irrwd5ry.11.115.,1,"1
sentencespuraPolipcoys'. In order the snore effeetualitYksw clsanuse w"4101.
would invite onr readers to compare
in the ps- air
law as quotedow by Sergeant Mars",a- The i 0.411
already q from that learned autnority.__ oyei!J
putable clause says—" Everv,policy issued. by the UoFull,ily /I,D,
be indefeasible and indisputable, and the fact of itts'ay.,'
shall be conclusive evidence of the validity of the isle
Sergeant Marshall, speaiing of the claim ordilusrsr;',ose or ‘l:o,t
policies, sari, " It is quite immaterial for what F?n4rted
what view it [a warrant] is condition • hut being 00Ce '„,t, and oe pf
polity, it becomes a binding on the asslir",an aerireort
he can show that it has been complied with, he table In(
benefit from the policy." In other words, an indispu_lopd
when once issued, declares that, de facto, all precedentil,
are held to have been. finally settled, whereas an ordiw
paidlc p
theall tahnelsoeun questions
oi
the p
declares on the face of it that the• Directors retain theeY:,4
putable clause says, "It shall not be lawful for the Cowar
delay payment of the money assured, on the ground of e j/ off
olicy to
mistake, or omission, however important, made by or oos, or •
thsepeuxteeCuutnortisl.thAeygabianv,
of the person or persons effecting such insurance." 31,r.ptji
Marshall, on the other hand, says, "The very meaninkot*
ranty is to preclude all vestion whether it has been 0:1, APIA
complied with not. NN hather the thing warranted 11"„glIgstir
or not, whether the breach of it proceeded from fraud, Tote 7,11
mis-information, or any other cause, the consequenCe,,l4oeooS,
—i.e, the policy is void." In the next place, the ":000,00',,,'
clause says that, " on. the contrary, the amount so a 50.1,:
be paid at the time stipulated by the policy, as if 010 Prigif
mistake, or omission, had been made or discoveren•-trac.„oll,4 •
geant Marshall says, "The warranty makes the Coe is ev"10.5
thetical ;• that is, it shall be binding if the tea:Tall tote,l3 pct'
with. The only question is, has the thing warranted to;'
or not? If not, the assurer is not answerable for Ags-af 1,700'0t
though it did not happen in consequence of the bretr '0
ranty." Can anything be more conclusive than tilechBvies
the superiority of the Indisputable Policy'?" The
..,eliet,o!"
Policy settles all precedent questions—an ordinary by 104
them all unsettled. An Indisputable Policy declares,4ln?
fact of its issue, that all questions relating to the ue"coreill
age, Sze., of the assured are, as far as the Compa'Y lbesBcel.,to
set at rest for ever—an ordinary policy leaves .„ 010/011,'
open to dispute, until the claim has actually been to. ;her
London Indisputable Life Policy Company, 72, .1.4°-
—Manager, ALEXANDER Rouearsos.
NEW WINTER DRESSES' w' '
FRENCH ME RINOES.—A large,Sterlog
Imported direct, commencing with
Article in every colour, at 2s. 100. per yard. s 1
tit
LINSEYS.—This Fashionable Article, in all COWr
t
best quality, 'lid. per yard. o'
FLOUNCED ROBES.—AII the New Styles, frOns ,
0 ,
1
to 31s. 6d. each.
Style
15d,
FANCY DRESSES.—Every New and Useful 59.
eluding Two very Cheap Lots, at 12s. 9d. sod
HARRISON BROTHERS, r.stree
60 and 62, CHURCH-STREET, corner of Hailer-
p

moßrils°'
bi

Printed and P!

ti,9v 94t orrl,tvi
OM ERC AL ADVERTISER.