The Sun.
London, England, 1852-12-04 00:00:00

ON THE ORDINARY SYSTEM.

The sum the ordinary
The sum the Life Offices would give
ordinary Life ihim if he were unable
Offices would to pay, or if he omitted
At the His give him for to pay his current
.0
45. end of policy the surrender annual premium of
41 Annual thirty at that or sale 81. 6s. 3d. after he has
4. premium yearswhen age, of his policy, paid into their coffers
74 to assure the party in case after thirty 249/.7s 6d.. and which
& 50E.* is fifty of years'payments they have had the use
te o years old, death amounting to 1 of at compound
•.1 hewillhave will be 249 /. 7s. 6d. Interest,t or in
paid into worth which theyhave the event of his death
the office. bad the benefit one hour after such
of at compound omission or inability
interest. to pay.
---- --
little more )
20 81.6 s 3d '2491 75 6d 5001. than 801. NOTHING.
perhaps 901.

• ON THE DEPOSIT SYSTEM.
If un able to pay, or not
desirous of paying or
omitting topay,thePo-
licy would still remain
of its ETU value,
522/.25.7d.ti1l death, if
20 years after, no fill,
ther payment beingre-
quired. If however the
party, from any cause,
wished to cancel the
Policy, he could not
onlydraw out all hehas
put in, viz., 2251., but
20 11. 10, Od 2251. 5221.257 d 2871. 2s. 9d, a certain bonus of 62/.2e. 9d. in the bargain,
which is more
than one-fourth of the
whole of his payments,
or he could either draw
out a part, 201. or 501..
diminishing the Policy
only by the assured
value of the sum se
drawn out at the age
when withdrawn. See
pagess and 7 in detailed
pamphlet, by
F. G. P. Nelson, Esq.

* The rates here selected are those adopted by the English and
Cambrian Office, and advertised in its distinctive features as low
rates of premium, and professedly for the lower and midd:ing classes.
In most offices, particularly the older ones, such as the Scottish
Equitable and the Globe, these rates would be much higher. In the
former of 101. 7s. 6d., with 10 shillings per cent. entrance fee, would
be the rate to insure 500/. at 20 years of age. In the latter 81. I3s 4d.,
to insure the same sum. The higher the rate the more in favour of
the DEPOSIT system.
t Money laid out at compound interest DOUBLES ITSELF every four-
teen years.
On comparison of these two tables it will be seen that a person
under the novel system of DEPOSIT assurance can secure the follow-
ing advantages, viz., Ist. For a less sum, paid annually, he can assure
a larger sum in case of death than under the ordinary system.
2ndly. In the event of a desire to surrender his Policy he can receive
in this Company, by the above example, which applies to all ages,
THREE times as much as on the ordinary system. 3rdly. In the event
of inability or omission to pay, his policy remains still his property,
of the same value as it was, though he cease his current payments.
fbr any number of years ; whereas on the ordinary system, he gets
nothing. 4thly. Should he require to increase or decrease the
amount of his policy he can do so at pleasure. He can, at any time,
by giving a fortnight's notice, withdraw any part from 11 up to the
whole amount of his previous payments and with interest. After he
has withdrawn part one year he can, by a single payment, three
years, or any time afterwards. raise his policy to a greater or even
its former amount ; and by this system he can at all times regulate
his annual savings by his annual expenditure, with the facility in the
bargain of having a fund to fly to in case of necessity, the same as
in a bank, with this palpable advantage, however, that he gets inte-
rest for his money, and in case of death his family receive mire than
the amount of his savings. In ordinary Life Offices he can do no
such thing, but his policy at once lapses or is cancelled the moment
he ceases to pay his current premiums, and, instead of having any
fluid to fly to for aid, all his hard-earned savings become forfeited to
the society, and his misfortunes serve to benefit the pockets of his
more fortunate co-assurers.
Such a system is too equitable and too striking to be overlooked
and DEPOSIT assurance is the only system of assurance which can be
universally recognized and adopted when the principles are impar-
tially canvassed, and its palpable benefits become widely diffused. It
confers greater advantages than a bsnk because it allows a fair rate
of interest In case of withdrawal, and gives twice the amount in the
hands of the Company to the representatives of the Depositor in
case of death, thus combining the
ADVANTAGES OF A BANK WITH THE BENEFITS OF