The Sun.
London, England, 1834-12-05 00:00:00

Those assurances marked thus t were not entitled to any addi-
tions ; but the extremely short period of their endurance shows the
benefit of Life Assurance in a very striking manner. Many other
instances might be adduced to the same effect; but the above are
quite sufficient for the purpose,
It may, however, tend to convey a clearer view of the advan-
tages arising from the principle on which this Institution is founded,
to show in detail the additions progressively made in the Equitable
Society to a Policy opened in 1796—that is, after the additions
(which had previously been irregular) began to be declared at re-
gular periodical intervals. Taking the original amount of the Po-
licy at £1,000., the additions stand as follows, viz.:--
Rate of Addition per
Date of Declaration Cent, per Annum on Amount of
of Addition. Sum Assured. Addition.
Ist Jan. 1800
lBlO
- 1820
1830 3 0 0

Sum of Additions at Ist of January, 1830 2,070
And original Sum Asssured l,OOO

Total £3,070

Had the sum originally assured been 5,0001. instead of 1,0001.,
then the total sum recoverable under the policy would have been
15,3501., and so on in proportion. This statement, while it shows
the important advantages of the principle of mutual assurance,
shows at the same time the utter fallacy of the opinion occasion-
ally stated, that it is only in the infancy of such institutions that
the full advantage of the principle can be obtained ' - for the rate of
addition declared by the Equitable goes on, it will be observed, in
an increasing ratio.

The immense benefit thus derived from assurances opened in the
Equitable Office at length drew the public attention so strongly
towards it, and so greatly increased the number of proposals of as-
surance, that, in order to prevent the business of the Society at-
taining an unmanageable magnitude, a resolution or bye-law was
passed in 1816, excluding those assured subsequent to that date
rrom any right to participate in the surplus funds or profits, until
the policies entitled to this benefit were reduced to a given definite
Number ; so that a party now taking out a policy at the Equitable
has not the slightest chance of entering on its peculiar advantages
fora long period of years.

This Institution was in existence two years prior to this import-
ant change in the constitution of the Equitable, and it has in con-
sequence received a great many proposals which, but for this mea-
sure, would have probably gone to the Equitable. The benefit
which the parties have obtained by doing so will at once be evident
from the fact that a policy opened in the Equitable in the course of
the year 1817, if now emerging and becoming a claim, would be
only entitled to an addition of about 91. per cent., while a policy
opened in this Office in the same year, and now becoming a claim,
would be entitled to an addition of 45% per cent., which is yearly
sncreasing.
There can indeed be no doubt that this Office is now rapidly ap-
proaching the same position (making due allowance for the compa-
ratively limited field of business which Scotland affords) that the
Equitable held in England previously to the enactment of the law
already explained. In proof of this no stronger fact can be stated
than the large and rapid increase of the accumulated fund and an-
nual revenue already noticed. The Accounts produced at the
Twentieth Annual General Court held in January last, showed
that in the last year alone an addition was made to the previously
large accumulated fund or capital of no less than Sixty Thousand
Pounds sterling. Independently, therefore, of the great benefit
arising to the parties interested, from assurances which may become
claims from sudden and premature death, and of which the expe-
rience of this Society affords many very striking instances, it is also
evident, from the principle of its constitution, and from the expe-
rience of the Equitable, that, even considered as an investment of
money, without any particular reference to the benefit of assurance,
a policy now opened in this office, and steadily kept up during the
whole period of a pi olonged life, may become a very valuable inhe-
ritance indeed. And this benefit is not operative only at death, but
may, even during the lifetime of the assured, be made available to
the most valuable purposes.
It is also proper to state that in only one instance has this
Society felt itself compelled to enter a court of law in opposition to
a claim made under its emerged policies ; and in that instance the
propriety of their procedure was fully evinced by the immediate
abandonment of the claim. This occurred very soon after the
Society commenced business ; and during the many years that have
since elapsed, every claim brought against the funds, under emerged
policies, has been at once discharged, and a great extent of good
both to the public and individuals thus accomplished.

TABULAR VIEW of the SUMS, including ADDITIONS,
payable under POLICIES of 1,0001., and so in proportion for
any higher or lower amount, if becoming claims during the re-
maining years of the current Septennial Period of the Society's
Progress :