The Sun.
London, England, 1854-02-04 00:00:00

LIFE ASSURANCE;
REPORT of the SELECT COMMITTEE of the HOUSE
Of COMMONS, and the DEPOSIT SYSTEM—the New and
Important Feature of Life Assurance adopted by The DEPOSI
and GENERAL LIFE ASSURANCE COMPANY.
The following is an extract from the Report of the Select Corn-
Inittee -
" THE OBJECTS which persons HAVE ;Dr VIEW IN EFFECTING IN-
SUEANCES upon their lives, are GENERALLY OF AN IMPORTANT AND
SOLEMN chsracte,, viz., the PROVISIoN FOR WIDOWS AND ORPHANS
after the death of their NATcranx. PROTECTORS ; unliks any ordinary
transaction of trails, A CONTRACT ONCE ENTERED INTO CANNOT BE
DISCHARGED OR ABANDONED, it doubts of the stability of an
office should arise, WITHOUT A SACRIFICE OF PREMIUMS PAID IN
PAST YEARS, and the necessity 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 YEAIL, With SOME suspicion and doubt as
to the ultimate advantage of doing so, oz OF INCURRING THE SE-
RIOUS LOSS WHICH, UNDER THE• MOST FAVOURABLE CIRCUMSTANCES,
?RUST ATTEND THE ABANDONM3NT OR SALE OF A POLICY."
On the DEPOSIT SYSTEM a person is NOT "COMPELLED" to pay
from TEAL TO YEAR," and he does not, if desirous of " ABANDON-
ING" his Policy, incur any sE Ramos 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; AT 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Policy is diminished by the assured value of the part withdrawn.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 51., 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 slims amounting to 971., by which he had been insured
in case of death for 2601. 12s. 7d ; but A B re mires 22/. ; by draws
this stun out, and diminishes the value of his Policy by 601. Bs. 3d.
at different times. leavitm him in case of death a Policy for 2001.
4s. 4d., and during his life a fund of 751. to draw out at any time, in
part or wholly.
The first claim settled by the D sposit and Qeneral Life Assurance
Company was upon a deposit of 101. which W parent made for each
of five children, instead of aiding it to an account they had at the
Saviors Bank. One of them died a few days after the 101. was de-
posited, and the father received 34Z. 65., being the amount of the De-
posit Policy.

EXAMPLE. No. 2.

supposing A B, aged 23, when 33e opens a Deposit Policy his the
means, and continues VOLUNTARILY to pay the same sum every year
in the same way as he is COMPELLED to do in the ordinary system.

Age.