The Sun.
London, England, 1854-01-16 00:00:00

LI F E ASSURANCE;
REPORT of the SELECT COMMITTEE of the HOUSE
of COMMONS,
,ftpd the DEPOSIT SYSTEM—the New and
Important Feature of Life Assurance adopted by The DEPOSIT
and GENERAL LIFE ASSURANCE COMPANY.
The following is an, extract from the Report of the Select Com-
mittee : -

'` THE OBJECTS which persons HAVE IN VIEW IN' EFFECTING IN-
SURANCES upon their lives, are GENERALLY OF AN IMPORTANT AND
SOLEMN character, viz., the PROVISION FOR WIDOWS AND ORPEANS
after the death oltheir NATURAL PROTECTORS ; unlike any ordinary
transaction of trade, a CONTRACT ONCE ENTERED INTO CANNOT BE
ruscuaßGED os ABANDONED, if doubts of the stability of an
office should arise, WITHOUT A SACRIFICE OF PREMIUMS PAID IN
PAST YEARS, and the necessi'y of effecting new policies in other
offices at increased rates of premium, owing to the greater age
of the assured ; persons are thus placed in the ANXIOUS AND UN-
HAPPY DILEMMA OF BEING COMPELLED TO PERSEVERE IN PAYING
PREMIUMS FROM YEAR TO YEAR, with 809 E suspicion and doubt as
to the ultimate advantage Of doing SO, OR OF INCURRING atiE SE-
RIOUS LOSS WHICH. UNDER THE MOST FAVOURABLE CIRCUMSTANCES,
MUST ATTEND THE ABANDONMENT OR SALE OF A POLICY."'

•
On the DEPOSIT SYSTEM a person is NOT "COMPELLED" to pay
from " TEAR TO YEAR," and he does not, if desirous of " ABANDON-
ING" his Policy, incur any'' impious Loss," but, on the contrary, he
may pay such amounts, and at such times as he may find most con-
venient; he can stop paying whenever he pleases, and he can with-
draw the whole or part of his premiums. If the whole be with-
drawn the Policy is cancelled ; if part only, then the value of the
Policy is diminished by the assured value of the part withdrawn.
A B, aged 20, opens a deposit policy with a payment of Cl., which
it will be seen he increases from time to time, and occasionally
diminishes.

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Thus AB, in 10 years, has saved and invested at different inter-
vals various sums amounting to 971., by which he had been insured
in case of death for 2601. 12s. 7d ; but A B requires 22/. ; he draws
this sum out, and diminishes the value of his Policy by 601. Bs. 3d.
at different times, leaving hith in case of death a Policy for 2001.
4s. 4d., and during his life a fund of 75/. to draw out at any time, in
part or wholly.
The first claim settled by the Deposit and General Life Assurance
Company was upon a deposit of 101. which a parent made for each
of five children, instead of aiding it to an account they had at the
Savings Bank. One of them died a few days after the 10/. was de-
posited, and the father received 341. 65., being the amount of the De-
posit Policy.

Supposing A B, agei
means, and continues
in the same way as he

EXAMPLE No. 2.

23, when he opens a Deposit Policy has the
rotuNTAttus to pay the same sum every year
is comrELLsn to do in the ordinary system.

Ago.

£. g. d.
49 6 6
48 16 0
47 18 0
47 4 6
46 10 6
45 17 6
45 4 0
44 10 6
43 17 6
43 4 0

206 7 6

190 4 6

141 3 0

1,000 4 0