The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-11-20 00:00:00

AG E

Insurantt Wotira

li
ASSURANCE COMPA
64, CHANCERY LANE, LONDON.

CHAT RMA N.—Tbe Rev. George Roberts.
DEPUTY-CHAIRMAN.—OOI. Faris, R. E.
.fttf
theelq
T h 3 el
sfit rosft
Da eeceleamrabtei
ro nnoexf
tP, m
in which all peardseoni ins tna
sest
raet
that date will participate. • eedD
THE AGE—never disputed a claim and are by their
Settlement prohibited from doing so.
Probate, Administration and Legacy Duties are saved bY

peculiar plan adopted by this Office. -
Fractional parts of a year are allowed in calculating age:6
Branch Offices are established in LtvEapool,,—Bi,,."‘":
-BRADFORD, - SHEFFIELD, - MANCHESTER,- 0;-
IJPON-TYNE,-SUNDERLAND,-AHERDEEN,- DUNDEE,'
`.
SELS. EDWARD ROBES SO,

LOCAL MANAGER FOR LIVERPOOL:
R. R. WILJTCHINScEsT, Esq., 9, Eden Chambers,
_

South John-street.

INDISPTJTABILITY THE ONLY CON.
SECURITY IN LIFE ASSURANCE.
(Extracted from " The Register.")
What is meant by an indisputable policy ? In the first S.
is unlike other policies; the adjective being used totnir
thing to mark and distinguish such a policy from all l!!`,
cies. In the second place, it means much more—it idle
the policy to which the epithet " Indisputable" is
given
be disputed, except upon grounds beyond the reach full
e'
the contracting parties to control. In other words, t
represented as being as indisputable as man can make it.
Nothing can be more embarrassing than the situation
who, after making payments to an Insurance Comes'
twelve, or twenty years, on the supposition that b,
ments he has purchased for his family the absolute '
reversionary estate, is then told that at his death
may receive such property, but that there is a great cha
sibility—amounting to a probability, that they IllaY.rt
the contingency depends upon circumstances whi n...
foresee. Yet such is the position of those who are held
responsible for the precise and literal accuracy of ever'
in numerous documents and schedules which precede .ce
of a policy. Take one of these schedules as all instsn
ments, upon the accuracy of each of which the whole
the policy will ultimately be made to depend
declare that my age does not exceed years ; that
I
cow-pox or small-pox (state which); that I have (or list
the gout; that I have not been afflicted with allY;1
convulsions, nor with asthma, insanity, or spitting e'
that I am not afflicted with habitual cough, diseac
nor with, any other disease or disorder tending
and that the foregoing proposal contains a titts; "*„t.
every matter and thing thereby required to be setwh'oeliv, pa
lam now is good health ; and Ido declare that 1,,0%01; DlaY,
cealed or withheld any matter or circumstance toile'isio
or present state of health, habits of life, or conilitieeor
render an insurance on my life more than usually
with which the Directors of this society ought l°
aial
quainted; and that my private referees are well ace0.,,0
and fully competent to give, the requisite inforroathit
habits of life. And Ido declare that this declaration
iety,
basis of the contract between me and the said roe ~,e,
tl atroa tbi oe
contained
iinf
efAn
if any true allegation or statement be contained in
opmoSiatit,edorin
whichthi so
ought
shall have been or shall be paid to the said society,
such insurance, shall be forfeited to the use of the
and the policy be absolutely null and void."
Now, looking at the wording of this elauserit illaY
without much exaggeration, that there is no human
earth who, looking on it as the literal condition of
with a company, can possess a certainty that the
death will place his family in possession of the sunra.
the agreement. It is a professional notoriety that t;
merous diseases which may be in active play long be'
istence is suspected by the patient or any one eise.-
contrivance of making the proposer warrant the liters
of numerous statements, the Clause above quoted'
-and nullify the policy, if it could lie proved that the
bad commenced his ravages at the period when the
was issued. The responsibility of the party effeelil
ance is unconditiona', and wholly irrespective of the
whether the " omission" of any fact, material or
wilful or not.
The person who makes the statement must not
that he makes no wilful finis-statement—that lie hf
held any matteror circumstance," and observe, net
of design, but that he has not done so at all. The
quired is absolute as to circumstances or possibili
sphere of human knowledge; and the responsibill 11,e 05'
ythemreaitiel,riaalll info
rant is equally absolute, no matter how innocentlYaepi
been led into error. sole
All theauthorities are of the same opinion as to tl;)4010 rP9
divided responsibility of the assured. Thus, Lord P, De e.,10,
hear of any distinction as to whether an omission o'erres,e De;
terial or immaterial. "If material,,, his Lordship tbet
a materiality may be inquired into and shown ; ho;t:solly4 1
warranty, it is partcf the contract that the matter lily
represented to be; therefore materiality or inimate*his°4P
nothing. The only question is as to the mere fact. err'.
has been affirmed, to the total ruin of families, by nnialll,
sions of the Courts. the !:it
It may perhaps be supposed that 7iowever close 1,
narrow the meshes which are entwined round•thebtoref
life is the subject of assurance—however minute en oestlo/
and liable to error are the facts,
trio et stringent inncoo to
of law are the terms of the declar lie is called
yet that by great care he may be able to comply u'not
mand, and escape without a forfeiture of his policY• ded
cannot do; for there is something yet core tin in 'itt•C!!,
before he becomes entitled to a policy—a rettilirel"—lsoe,
the greatest amount of care, and prudence, and scraptdois.dfl
attendants is fno avail. The proposer must wt
omen nal.ei; sat; so
cal and two friends, each ofh turteille°4
to a long list of questions, and the facts and 5., poL.isv,
received by the company,..although theoser.2:ol4
acquainted with any one of them, are yet amore"!` jovso•
error in answer to any of the questions put tO tllebe„ci fro oftP:j
provisions
just noticed, which we select from a lartible
awsa warrantyeffectually
hi
vitiate ivn
thed ec lie,
oral
itci
as
n ss oi f thatad apre" Ic f_ne._:::eofepri;e_oeint:li.jou.
saisirs
iraerdclansme
ss,el
and
from the
emparkae, fortice of a o
highlyn y ornees
pee';:fas:Oto,011111
Wilshere v. The Law Life. Wilshere resided near Iler
on several occasions had consulted a London physici:os."„'
health, besides having the advice of a country '''erDAl"o,l„":3o_.'
came to London to effect an assurance on his hife',lo";telau,y-pos`i
to the question, " Who is your ordinary medical g;fitP„..tor,°'
gave the name and address of the London physician', din, stle`'
report and that of their own medical examiner, 11',It soV
the company were satisfied. Some years after o.,sttVoai
died, and his executors were defeated and claim aga,li;mr g),ctso
pany for the sum assured, InerelY'Ag =vol.° the phYsi .
because the name of the surgeon, an ',gal
ought to have been inserted in the ni-r°P—
s, there arose
which
In consequence of this state of mattnerLife sserailee,
n the coupe
mind a general feeling of insecurity occurring tr at (ot
increased by the perusal of numerous cases most of the 'OO
lusts law and reported in the- newspapers, but "otl'er's
ConlP . rtch o
nce of assured parties against Li d
them in which Life Companies were arrayed indisoaables to t
The great desideratum was to make pnliele' hensiell
appre -003 e
to remove all doubt, and dissipate every it bec boa
certainty of the sum assured being paid when
_nd the
whereby the public generally would be benefited, u
thisof Life Assurance much extended. ndertool'; sg'd
" The Indisputable Life Policy.CompanY tlieY feel!
and in order most effectually to make
ofthe theyPalicie ttiser ov,
disputable and certain documents security, eby cr.at
following clause in their Deed of Settlement, the!. csinP.,elo
an effective and legal obligation, imperative upon tlr,,,ber to
fulfil, and which it is tte right of every assured ru
ha,e{
and insist upon:— g
Clause 84. " That every Policy issued by the Co
~ing.l
indefensible and indisputable,,and the fact of 48'001;0 ;, oft;
shall be conclusive evidence of the validity of the `a„,7l,ot°,
shall not be lawful for the Company to delay 1)
0"; otsioti
money assured thereby on the ground of any r of. frhe
in the pu
omission, however important, made by or on the pa, !oil
ty
son or persons effecting such Assurance ; theP,' e
trary, the amount so assured shalt be paid at .0610 oi
by the Policy, as if no such error, mistake, or omissi .„
made or discovered." 010°. tet ,
We have said that the above clause forms a part reoi to
Settlement of the Company, and that deed being asps c(01
terms of the Act 7 and 8 Vict..c. 110. there is not hl_nti.L 00,
give it the fullest effect. It is not merely to he,,,t.°01,. s
spectus or other circular, which may or may not be forirlsere,fe
the Company, according to circumstances, but it A old,
ponent part of the existence of the corporate bode%as
mice of indisputability is not enough. Such a claus'we Veit);
is required to give legal efficacy. It appears to ha, cut., 01 fie'
fully and anxiously prepared, for the purpose °:iitlitlregot
every ground and pretext of dispute as to the loe
Policy; and we confess that we cannot find anY Wisoryt
of sentences more operative, effective, or coraltoo tita es
purpose. In order the more effectually to doe '(i3O.ofir
would invite onr readers to compare this elalbe 0011
law as laid down by Sergeant Marshall ill 'll'epf,
policies,p utab l e
says
already quoted from that learned authoritY-„elepi )If,
be indefeasible and indisputable, and the fact of issl tipt'iltl)
:ivieeriympniolaicteyriiasslufeodr
shall be conclusive evidence of thel validity of the or'ot
Sergeant Marshall,. speaking of the clause ordinal
what
rt
ec
what view it [a warrant] is made ; but being.once o,difft
policy, it becomes a.binding condition on the assilre,;o °;;;s,
he can show that it has been complied with, he ',4111,'",1.
benefit from the policy." In other words, an indisP," t
when once issued; declares that, de facto, all precelparie.,lll
are held to have been finally settled, whereas an tbe v;ctieciir
declares on the face of it that the Directors retal.ae
keep all these questions open to dispute, until theY tli",,,otd.
paid the amount of the policy to the executors. I.sa2boiq er
putable clause says, "It shall not be lawful for ti,,,`of 31,40 flt
delay payment,of the money assured, on the g,ronnts,r
mistake, or omission, however important, made bljgr.:( .40,
of the person,or persons effecting such insurance.- „ifieviso',.ril`
Marshall, on. the other hand, says, "-The very lnenn"sall'ipet'ote
ryas lip ,'
ranty is to preclude all question whether it bas hee"A
complied with or not. Whether the thing warrante-j,fiese;;V,
or not, whether the breach of it proceeded from fraore i$
mis-information, or any other cause, the (=segue"- io`ijed 'rer'
—i.e, the. policy is void." In the next place, tbesoltro 'ref'
clause says that, '` on the contrary, the atnount.s°o4'lol,%;el
be paid at the time stipulated by the policy, as tird..,ACt
mistake, or omission, had been made or dis Cove 4131:- rDio
geant Marshall says, " The warranty makes the ~"ty
thetical ; that is, it shall be binding if the icarfo:
with, The only question is, has the thing warrant' Ans"i.kf
or not? If not, the assurer is not answerable for of „rporl
though it did not happen in consequence of the breath
ranty." Can anything be more conclusive than thiladist'ity
the superiority of the Indisputable Policy? Tbe poll Ohl 't"
Policy settles all precedent questions—an ortlinur;, el/
Viem all unsettled. An. Indisputable Policy declarelh
fact of its issue, that all questions relating to the .7 011
age, &c., of the assured are, as far as the ConlPanY
set at rest for ever—an ordinary policy leaves ti
w.sehar Ate
open to dispute, until the claim has actually been 9
London Indisputable Life Policy Company, 72, --
Len
—Manager, ALExANDER ROBERTSON. .

ANT
mill 1

CON
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