The Sun.
London, England, 1821-09-29 00:00:00

PROPOSALS for ESTABLISHING a SOCIETY, for the
ASSURANCE of LIVES and SURVIVORSHIPS, for
the Benefit of the Members,of the,Profession of the Law, to
be called "The Metropolitan and Provincial Association
for the Asinirance of Lives and Survivorships."
AT a time when there exist so many Institu-
tions for the Assrance.of Lives and Survivorships, it will
be expected that the Projectors of the METROPOLITAN
and Pnovm A.
erAL L.,v ASSOCIATION should spew
the utility of such an Establishment, and the probability of
Its success ; and in their endeavouring to do so, it is necessary
ithem to remark upon the Institutions already existing ; but
ey disavow all unfriendly feeling towards them, being con-
nenefi Priced, that though in different degrees, they have been highly
cial to the public, and have saved from poverty many re-
spectable PamilieS. Most of the present Assurance Establish-
tents have originated in trading speculation ;—on thelkith of
s*Pitals, unnecessarily large the assurances have been effected.
xperienee has fully proved, that the Premiums received have
"al much more than adequate to support the Fund for the
PlkyinetitB of the sums assured, and the surplusage or profits in
this class of Offices have been divided amongst the Proprietors;
others have divided one-third of the profits among the h Sha-e-
-oldam, .and the remaining two-thirds amongst the assured.benefi te
fair of the Offices make the assured the parties SOLI d.
Life assurance is of
especiahutility to
professional eharacterS
arlr illernnes depmd ehiefly:.Upen their personal exertions,
law.topone more than those engaged in the pyofession of the
mrai 1•11 this profession there' arc at present, in England and
one giculTwards of ten thou rid liersons engaked ; and if only
bi• xp.";" this number were to contribute annually,the small stun
un " each, in payment of premium for a rateable assurance,
tatnu al income of £50,000 would be produced, a sum ex-
ed„flig hat of many of the Public Assurance Offices, sup-
-4-461g large and expensive establishments.
IvAnother source of advantage to be added to this Institution,
Slll be la.
"'at 13f -Assuring the Lives of Persons articled in the
c to cover tin case of death) the heavy expenses in-
s:=ljled by
1 the stamp duties, paid upon their articles of clerk-
tiP, and pi.ern. ium,. and of whichpersons there are annuall
N.artis of four hundred. p y
v" x1?0,1y so nuserous, and having a common object in
etas' that of securing to their families a comfortable independ-
combY anpropriating a small proportion of their annual in is only a matter of surprise that an Assurance Fund
more ' n.ofit long before been established by the profession ; the
ar:so, since Assurance as an act of prudence must have been
Pted bY, many ; anti- for want of such an establishment
ongst themselves, large sums must heretofore have been
this .begin
to other and distinct bodies; which, had a Society like
I,3iitslabieetzt earlier instituted, would have reverted to their own
• The •
,12 •Institution of Society will no doubt, be the'
cisr;_s c't* inducing many Professional 'Men, and also their
rntitO effect an assurance upon their lives, whpotherwise
„not have done ; and thus, instead of leaving their fa-
., Qeatitute and dependent upon the charity of others, they
°wnnave.the pleasing satisfaction of knowing, that from their
entlp their families after their death are in-depend-
ep for.
That
following are the Regulations proposed
4
I+qess;,,
shall confined to Members of the Pro-
Jnen of theoc Law, resident in England and Wales, viz.
Serleants at Law, Civilians, Barristera, • Attorneys,
c 4ciWrs Proctors, and Members of ono of the four Inns of
arouur,,t: ;•I'ing kept two or more terms, Officers of the several
•t, ofC Lem and Equity, and Prerogative 'Courts of Canter-
, 64Y, and York, and Constery Courts in England and Wales,
soma to the Judges and Pupils and Oaks to Barristers, At-
oneYs. Solcitors, and Proctors, and all others whOse incomes
,arelihood. may-depend upon the profession of the Law.
siu. That a fund, to consist of X 30,000, shall be raised by 3000
• i at .1110 each, and be distributed 'amongst Subscribers
..ic4'4lglittid and Wales, in the following proportions, viz. :
.ksnts resident in London and Middlesex - 500
Yorkshire - - - 200
Lancashire .. - 145
The 37 remaining Counties in
2035
England oa each
The Welsh Counties 10 each 120

. , .
In
to
„. 3000
ttiteeb,erth - ei 'any. deficiency of Subscribers in any of the. Con-
n at deficiency to be supplied by Subscribers in any
arY •
No oils ' • •
more Ir''. Peon to hold more than five, or a:Partnership firm
7.1' tuall) •en. shares.
the eat 40 Per cent. or, each share be paid into the Bankers, on
js le,?-connt of the Trustees, pro tempore, at the time of sub-
e %lull.; that 40 er cent. or £4 on each share, be paid within
.11100etnicrrhs afterwards, and the remaining part
.within six
ee'u" after the Society shall have commenced business.
up.' Oat for the first three years the Proprietors shall not receive
that Pere the suits siniseribeil more than five per cent., and after
.
,riii)eriosl seven per cent. per annum.
assured each Preerietor dO within 12 months, assure and keep
e''' upon his 'life, a sum, not less than £lOO.
of the
the shares he taken by and transferable only to Members
*e Law Profession, Whoselives are assurable in the Society.
nat Subscribers shall not be liable beyond the amount of
their,e, subfleeiptione
inert the funds of the Society shall be invested in Govern-
.(, or real sccnrity only, except as hereinafter provided for."
ree;'llt an Assurance shall not be effected upon any one life for
,4 than 3006. :
con, at to
business of the Society shall be conchiaed in Somp
Arraneniebt situation in London or Westminster, and the general
tors, thereofi.hre:nrituiljtols,
sengeni entrusted to five Trustees, thirteen Direc-
a Secretary, and Actuary.
threeflat there shall lie nine Directors for the County of York,
lee in each riding ; three Directors for the County of Rut-
of ti; and three for each of :the Welsh Counties ; and for each
reatttele Other Counties, except Middlesex, five ; to whom all
appoint matters arising in the Counties for which they are respectively
I.e, ellen be referred.
sceet the Trustees and Directors be chosen out of the Sub-
le, en's, tie
less than three shares, or Members whose
.eillYkre been assured Years for a sum of not less than 5001.
Cte, leTrustees, D'rectins Auditors, Secretary, and Ac-
.Y, fore general 'management' of the Society, shall be an-
• Le4.l3' elected by the Proprietors at large, and Assurers of three
eeisitisr?
_tiding of 5001. and upwards, at a yearly meeting to be
!ill London or Westminster.
Se in at the Provincial Directors shall be annually chosen at the.
Coan,ler Assizes for each County, by the Proprietors of those
Nero."'" Wherein such Directors reside, and for which they are
•se d • and b A resident therein of two years stand-
yet 04, y ssurers
~,. hat e d upwards.
-ewie?eeso proprietor of one share be entitled to one vote ;
partner-
--T A4e,s, two votes ; five shares, three votes ; and a paitre..-
„4at going seven shares, to five votes.
tlist eeeutbers be entitled to one vote for each 5001. assured.
Wit}, osnle life of noperson resident beyond the Bills of Mor-
aPProV'eneall be assured?, unless his certificate of health be first
than t et, by one Director, arid two persons holding not
_less
lu„:" shares each, or two persons whose lives are assured for
ez,','.olnot less than 5001. each.
' sitetluat at the expiration of the first seven years from the com-
ereree'eln'ut of the Office, and afterwards at the expiration of
atiee-e_.five years, the assets and liabilities of the Society shall be
apprTuedand such sulusage as may then appear, thall be
the eiP.nated as follows, viz.: two thirds in making additions to
date .4'113 of each person's policy rateably to its amount and.
hse tile r6maining one third to be reserved as a guarantee un-
dered next Period of valuation, when it shall again be eonsi-
Thes.Part of the surplus assets of the Society. .
conk :Part
the event of the Assured being at any. time unable to
Purchased
e annual payments of his policy, his interest shall be
aeothby the Society at a fair valuation, or he shall receive
ti
raT
eh es6breuaic
II ?Zell
ate to
tifeo.r a suer to be payable at his death proportion-
Assiired.shall be in -want of.a temporary loan, the
'len eel e granteti to him•not exceeding two thirds of the be.... n value bf ins policy, he paying an interest of 51. per cent.
•i,si, nom for the sarne.
• pia-i t,e'ro time to
elegi",aft after the
expiration of the first seven years the Society
`X lUnseribed, at a fair valuation.
time; have the option of recleaning the ea-
apporee_ed ef settlement to be immediately prepared after the.
neee.4flent of the Directors, and under their direction ; and, if
s I,`".Yi an Act of Parliament obtained.
' tuber e'criPrhms will not be received before the 22d day of oe-
. Ttestlx, by which tithe Presidents, Vice-Presidents, and the
inteti e 3' Pro tempore, it is eXpected will be named ; in the
21/r.
,;,,1 all communications are requested to be addressed to
eeryeaan't, esAnderton, Attorney at Law, Quality-court, Chan-
ti t'e
polnotilei
:rands toMetropotan Law Society for
Profeesion."....eptember 18, 1821.
nt honoura.ble practice, and preventing abuses