The Sun.
London, England, 1863-03-27 00:00:00

The " British Nation" Life Assurance.

One of the most successful and deserving of our
provident institutions, is the " British Nition," at
316, Rogent-vreet. The company, and the so-
cieties amalgamated with it have paid upwards of
£1,300,000 in the defrayal of over 3,1.00
This is an institution which has -achieved far more
success than could justly have been prophesied by its
admirers when it was set on foot in the year 1852.
At first the institution erted a little on the side of
generosity to the public. Its conductors are en-
abled, however, now to publish the following
figures :

Annual income (nearly)
Invested funds exceed (irrespective of the capital) 257,000
New business effected 180:

And we learn that the business of the current
year presents still more graticying evidences of the
public aN4reciation of the principles of the associa-
tion. Hare is the plan of its constitution, clearly
and eloquently told in its own prospectus ;

`• Life assurance is one of the most important elements of
the principle of association, and affords the opportunity of
investment and pre vision to almost every class of society.
Not only is it a means of family provision to the man of
income, but to the wealthy landowner, the merchant, the
trader, and the artisan, it offers unequalled facilities. There
are practical difficulties, however, which have presented
themselves to the .minds of intending assurers, and have
prevented the more general adoption of life assurance.
These are-1. The want of some benefit to the assurer
himself, should he attain old age, and perhaps outlive the
persons for whom he assured, 2, The fear of litigation on
some disputed point, after the payment of many years'
premiums, whereby the assurer bequeaths a law suit in-
stead of a legacy to his descendants. 3. The fear of being
unable to continue the premiums on the policy, whereby
the payments of many years would be lost, and the object
of the assurance defeated. The policies of this association
obviate all these objections:—By the application of the
profits to rendering the policy payable during the lifetime
of the assured—by the avoidance of all uncertainty or liti-
gation, by making policies indisputable—and by the pro-
visions for the non-forfeiture of policies by inability to keep
up the payment of the premiums."

These are very important objects to achieve by
the instrumentality of life assurance, and it is satis-
factory to note that they are liberally dealt with
by the company. That the policies should be pay-
able during the life of the person assured, and with-
out any extra premium whatever, is a very impor-
tant feature in the programme. Upon this theme
the explanatory book already quoted from, stys

"It is frequently the care that the object for which a life
is assured passes away, or the family for which an assur-
ance is effected becomes richer than the person whose life
is assured in their favour; or that in declining years the
money,which is ordinarily only payable at death, would be
invaluable. The principle, therefore, of applying the bonus
at each division to the extinction of the latter premiums on
the life, and thus of making the amount of the policy pay-
abl3 in the lifetime of the assured, is one which recommends
itselt to the mind of every assurer. For instance, under the
ordinary plan, the survivors of a person assuring his life for
£5OO, would, at his death, receive £5OO, and either some-
, hinr, extra in the way of bonus, or the assured might dur-
ing life have paid a decreased annual premium. But under
this system he may receive, say on reaching 55 years, the
£500."

It is a grand and attractive feature in the plan of
operation that no policy can ever be forfeited after
a certain period by the non-payment of the pre-

MUM
" After the payment of five annual premiums on whole
life policies, effected with profits, the association will not
forfeit the policy by reason of the temporary inability of the
assurer to pay up his premiums, but will, on application,
advance the required amount for premiums at interest, as
often as the value of the policy will admit. Thus an as-
surer who has paid five annual premiums of, say £lO
each, being temporarily inconvenienced, could have the
sixth premium credited to him and charged on his policy at
interest, he having the same indulgence the following
year, or, at least, as often as the value of his policy
would admit of it. He would also have power to repay the
amount so credited as soon as convenient, or leave it a
charge on the policy. By the deed of settlement, five per
cent, of all the profits are also set aside for the formation cf
a fund for sustaining the whole life bonus policies cf those
who are temporarily unable to pay up the premiums."
We will now quote a few of the examples ap-
pended to the society's tables :
" Table I.—A person aged 30 next birthday may, at his
decease, secure to his family and survivors the sum of
£l,OOO by the payment during life of £24 Os. 103. annually,
£l2 7s. 6d, half-yearly, or a 53. quarterly, and will be fur-
ther entitled to a participation in the bonus of the associa-
tion, which may be applied—
(l) In rendering the policy payable during the lifetime of
the assured.
(2) In reduction of future premiums.
(3) In adding to the amount assured.
"Table lI,—A person aged 30 next birthday may. at his
decease, secure a fixed sum of £l,OOO by the payment dur-
ing life of £2l Is. Bd. annually, £ll Is. Bd. half-yearly, or
£3 Os. 10d. quarterly.
"Table lII.—A person aged 30 next birthday may secure
at his decease, provided he die within the term of one year,
the sum of £l,OOO by the payment of £ll Os. 10d. ; or may
-ecure, provided he die within the term of seven years, the
same sum by the annual payment of £ll9s. 2d. (This table
!tray be advantageously employed in commercial transac•
tions, either for securing debts, money advances, or short
eartnerseips, or any contingency certain to occur within.
ne or seven years )
" Table IV.—Single Payment Assurances—Assurances
may be effected under this table for any desired amnuet
,ay from £25 and upwards; and being wholly paid up, be-,
came absolute reversions, descending in all their entirety,
without charge or trouble, to survivors and heirs at the
teeth of the assured. A person aged 40 next birthday maY
3ecure £lOO with bonne, at death, by the payment of £5l
7s. sd. P. licies of this description are always available
,r present pecuri ry purposes, seeing that money may, at
111 times, be readily obtained upon them by the holders free
,f cost, for temporary accommodation.
"Table V —Joint lives—Two persons, aged respectively
25 aed 30, may secure £l,OOO payable at the death of either,
,y the annual paym, nt of £32 13s. 4d,, during the j Ant
a ntinuance of their two lives
Table VI —Endowment As=urances —A person aged
25 next birthday may, by the annual payment of £2B 18s.
td., secure to himself £l,OOO, together with the additions by
way of bonus, on his attaining the age of GO; or the same
tmount would be payable to his survivor, in the event of
his dying before that pet iod.
"Tabu Vll.—Endowments for children.—Exampleg-
( Ile moneys paid to be forfeited to the office in The event
of the chid not surviving the term.)
"XlOO may be secured to a child aged 3 years, on attain-
ing 14, by the annual payment of a 19s. 91, or by a single
sum of £59 13s. Id.
" (All premiums returned in the event of the child not
reaching the agreed age.) £lOO may be secured to a child.
aged 3 years, on attaining 14, by the annual payment of
£7 Os. 2d.
"XlOO may be secured to a child agad 3, on attaining 21,
by the annual payment, of £3 17e 91"
The profits, divisable every five years, it may
be remarked, arc apportioned in the following

liberal manner :
"Ninety per cent. to the assured, whereof 70 par cent:
is applied as follows:—I. In rendering the policy payable
during the lifetime of the assured. 11. In reduction of
future premiums. 111. In adding to the amount assured.
5 per cent. to the assured for a policy sustentation fund, to
secure policies from lapsing when assurers are temporarily
unable to pay the premiums. 15 per cent, to the assured
for purchasing up the shares at the market price, sa that
the association may become mutual, when the entire
assets will belong to the policy holders. 10 per cent. to the
shareholders, in addition to interest of not less than 5 per
cent. per annum, on all capital paid up."
The above illustrations will, however, be suffi-
cient, in regard to the British Nation Assurance
Company, of which Dr. George Birmingham is the
chairman and Mr. Lake the manager.

THE ROYAL WEDDING.—The estimate for " mis-
cellaneous, special, and temporary objects" show that the
mariiage of the Prince of Wales necessitates a vote for
£23,455. The L 23,455 is made up of the following items:--
Extraordinary charges devolving on the department-6 of her
MNjesty's househo:d and travelling expenses, £iO,3CO ; for
works at Windsor under the direction of the Office of Works
and Public Buildings, £3,200 ; for illuminations of public
buildings, £7,000 ; and for opening the theatres to the pub-
lic on the lOtb, £2,955.

Mr. LUMLEY AT HER MAJESTY'S THEATRE.--'
Some friends of Mr. Lumley have projecitd three
the idiant annals and Waits of
testimonial performances, to be given for his benefit, in
whicLt
ociated with his name; and Mr. Mv.plj-'
,Ilal
ca ,0 ai tn
tt
ihme
at
the el ay t
ar es
s,
son has most generously placed the Opera House at. their
disposal. Tho performances will derive an especial lustre
friqn the fact of Mdlle. Piccolornini (Marchion, ss Gaetaui)
having voluntecied her services for the three representa-
tions. Dldlle. Piecokinini, however, as has been rumoured,
does not intend resumirg the stage as a profession After
performing for Mr. Lumley she goes back to Italy and
retires again into priva'e life. With the invaluable aid of
The celebrated ex-prinn donna, with the principal arists of
her Majesty
's Theatre, and, indeed, all the talent in the
country— for everybody will be anxious to lend a hand on
HO interesting an occasicn—the three testimonial perfor-
mances cannot fail to prt,ve unpreecclentedly attractive.
l'ha nights for the three representations are fixed fir 'Wed-
noslay, May 6; Monday, May 11; and Monday, May IS.

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