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% FERGUSON CIAIROUX, Secretary.

NATIONAL LOAN FUND LIFE ASSU-
RANCE SOCIETY.

OFFICE, 26, CORNIIILL, LONDON.
Capital 500,0001.
Empowered by Act of Parliament.

The system of Deferred Annuities, originally proposed by the Na-

tional Loan Fund Life Assurance Society, for the better advance-
ment of the objects of Benefit and Friendly Societies, having received
the approbation of a considerable body cf the native members and
officers of those Institutions, and the Directors of the National Loan
Fund Society having been urgently solicited by them to estabiish a
Branch Office in connexion with tho.o gocieties and the Operative
Classes generally, in which their services might he successfully en-
gaged, a Committee has been sanctioned by the Directors to open
communication with the different Societies, with the view of more
effectually disseminating the valuable benefits amongst the Indus-
trious classes, and a plan has been proposed with that object.
ADDRESS OF THE COMMITTEE. _

Many praiseworthy but ineffectual attempts have been made to
bring within the scope and operation of the laws of mortality and
money the savings of the industrious classes, as well as various cal-
culations regulating their distribution, having for their object either
Immediate, contingent, or deferred benefits.
A slight examination, however, will demonstrate that the con-
struction of these associations or societies is defective; and that in-
stead of affording an easy access and a free choice of investment,
whicl, should be the privilege of every one, they confine too nar-
rowly the •cannel through which a benefit can alone be secured ;
and, in proportion as their action is circumscribed and embarrassed,
their utility is limited. For example, it is not to every individual
or to every class amongst the industrious community, that provision
in case of sickness is an object of such importance as to call for a
pecnuiary sacrifice; while to others such a provision appears more
attractive, and the loss of employment caused by sickness is a risk
against which they desire to be guarded. For this anomalous state
of things there is an effective and simple remedy ; that is to say,
instead of covering, by one weekly or annual payment, two or more
contingent or deferred benefits, so to arrange it that each separate
benefit should have its separate contribution.
It is to not having observed this rule, and to the association of
two dissimilar functions, and by confounding a sick allowance and
an annuity fund in one and the selfsame payment, that much of the
evils and mismanagement has arisen amongst Benefit Societies.
No mechanism can be so perfect for the management of a sick -
ness-fund provision as that afforded by the constant sectional asso-
ciation and watchfulness of the several members composing it. By
this means a thorough and constant check is mutually exercised, and
none but the really sick are likely to become chargeable upon it.
But the same perfection, or the same security, is seldom attainable
where a fund is to be accumulated through a succession of years,
and where results arc to bear out calculations, money investment
being in general beyond the experience of the industrious classes.
For these reasons it is clear that the fands destined for a provision in
sickness should be kept entirely distinct from the fund intended as a
provision for old age :-
Ist. Because the laws of sickness and mortality, though apparently
connected, do not depend on the same calculation.
2d. Because there are a great number who, in order to secure a
larger provision in old age are willing to take the risk of providing
for probable sickness on themselves.
3d. Because the responsibility of managing a provision for old age,
continued to a distant period is, in a great measure, incompatible
with voluntary associations, fluctuating laws, and individual irre-
sponsibility, and more exposed to a failure in the performance of
such a contract , that when undertakes on the same principles that
ordinarily govern commercial bodiei.
4th. Because the expenses of providing for sickness must, when
united in the same payment with provision for old age, tend to dimi-
nish still more this provision : nor is it wisdom or good policy to en-
danger the one for the sake of the other.
Impressed with these convictions, and with an intimate knowledge
of the discussions passing within the bosom of many of the existing
Friendly and Benefit Societies, the parties whose names are here-
unto attached, have had several meetings. with a view of proposing
Or adopting a remedy for those and other evils ; and in this manner
to give an additional force to the principles of brotherhood, unity,
and mutual aid, on which friendly societies are based, by guarding
them from the risks of sudden dissolution. _

•,
After much diligent search amongst the combinations ingeniously
proposed from time to time for the attainment of one of the principal
objects of Friendly and Benefit Societies, they have found none equal
In simplicity and comprehensiveness of design, as well as forethought
and sympathy for the wants of the industrious classes, as the plan
proposed by the National Loan Fund Life Assurance Society. It is
true that the author of that plan has furnished an argument against
provision in sickness; but, without concurring in the immediate ex-
pediency of abandoning a provision in sickness, no one can read the
other part of the plan itself, without being fully satisfied that the
convenience and safety of Friendly and Benefit Societies will be
greatly secured and consulted, by separating the payment of a sick
allowance from an annuity for old age.
A deputation having waited on the directors of the National Loan
Fund, who met in the handsomest manner tie overtures made to
them for the establishment of a separate office for the transaction of
business connected with Friendly and Benefit Societies, and the in-
dustrious classes in general, resolutions have been entered into, con-
stituting the undersigned as a Committee, with power to add to its
number, for the promulgation of the benefits contained in the an-
nexed prospectus, under the guarantee of the Capital of the Society,
and which, without interfering with the numerous objects connected
with the institution of Benefit and Friendly Societies, will in their
opinion greatly enlarge their sphere of utility, and afford a protection
to the working classes in old age and adversity, which nothing up to
the present day has adequately secured to them.
Thomas Burthom, P.C.R., Ancient Order of Foresters.
John Fussell, C.R„ Ancient Order of Foresters.
John It. Gordon, D.S.' Ancient Order of Foresters.
James Hale, D.C.R., Ancient Order of Foresters.
Henry Hunt, P. 0., Manchester Unity of Odd Fellows.
Joseph Nugent, Pro. C.S. Manchester Unity of Odd Fellows.
Joseph Reeks, 8.0. F. Order of Old Friends.
Samuel Timbrell, D.d.R.. Ancient Order of Foresters.
DEFERRED ANNUITIES.

Example.—A person aged 24 next birthday, by the annual pay-
ment of 1/. Gs., or quarterly payment of 75., or monthly payments
of 2s. 2d., may secure, on attaining the age of 60, the option of re-
ceiving Annuity, 101. 19s. 2d. ; Cash down, 1071. 3s. ; or a Policy
on his Life, 1371. 17s.
Example.—A person aged 26 next birthday, may secure, on at-
taining the age of GO, an Annuity of 101., with the other options, by
the annual payment of I/. Gs. 9d., or a single payment of 221. 17s. 3d,;
or on payment of 61. 14s. 3d. for disparity, he will be entitled to
the same benefits by an annual payment of 185. 11d., the same as
or age 20. •
Example.—A person aged 30 next birthday, by the annual pay-
ment of 1/. 65., or quarterly payment of 75., or monthly payment
of 2s. 2d., may secure on attaining the age of 65, the option of re-
ceiving nnuity, 181. Os. 4d.; cash down, 1481. 12s. ; or a policy on
his life 1751. I Is.
Example.—A person aged 35 next birthday, by the annual pay-
ment of it. 65., or quarterly payment of 7s. or monthly payment
of 2s. 2d., may secure, on attaining the age Of' 65, the option of re-
ceiving nnuity, 18/. Os. 4d. ; cash down, 1481. 12s. ; or a policy on
his life, 1751. lie.