The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1850-11-20

By reference to our advertising columns it will
be seen that branch of another institution for the
Insurance of life is established in this city: we
speak of the Kentucky Mutual Life Insurance
Company - the parent establishment being at
Covngton, Ky.
Life insurance companies are comparatively of
recent origin; but, within few years, so great
have been found their advantages to the public and
to the stockholders, they have increased wonder
fully, both in number and in the amount of capital
invested in them. They are one of the distinctive
features of the times, and as clearly indicative
any thing else of the onward progress of human
affairs in this strikingy progressive age.
The subject of life insurance had, in the outset,
to encounter much opposition but the better it has
got to be understood the greater is the favor with
which it is received. We may say indeed, that in
all enlightened communities, the prejudces against
it have already subsidized and now human life has
come to be regarded legitimate subject Of in
suranee as a ship, dwelling house, any other
species of property.
For the benefit of those not thoroughly &C
quainted with the nature of life insurance we will
state that it is contract between company and
an individual, that, in consideration of a paid
annually to the company, during certain period,
or during life, his heirs or assigns, shall receive
from the company a larger stipulated sum when he
dies. In this proceeding there is not-as some
have, without consideration, supposed--an impious
attempt to prevent the will of Providence, but
wise and prudent endeavor to render such events
as are beyond our control less calamtous than
without such caution they would be. The amount
to be paid to the company, and the amount to be
received in case Of death, by the heirs or assigns
Of the party whose life is insured, settled by
calculations based upon observations made of the
duration of life at different ages and the value of
monsy at interest. An insurance may be made for
o@ year, for several years, or for the whole life,
IN the former cases, the money is paid by the COM
pany, il the individual insured die within the pc
Rod for which he is insured. In the latter case,
the money is to be paid whenever the insured dies,
From an interesting pamphlet before us, we learn
that the specific principles upon which the science
of Life Insurance is based, are derived from the
following sources By means of full aud accurate
records of all deaths at various localities in Eng
land, and long continued observations together
with careful and laborious cassiications, particu
larly at Carlisle and Northampton, by some of the
most scientific men of England, statistics have
been obtained showing the average proportion o.
deaths at every age of life. From these statistics
and from accurate records of all births in the same
localities, "Tables of Mortality as they are
Called have been constructed, showing that of ter
thousand children born, certain number, viz
fifteen hundred and thirty-nine, will die the first
year; a certain number, viz six hundred ant
eghty.two, will die the second year, and so on un
til the whole number are dead. The precision anC
accuracy with which these tables give the relative
proportion of deaths at each age, as corroboratei
by the experience of the Oldest Life Insurance Com
panies, is truly wonderful From these tables
other tables have been constructed, giving thu
average expectation of life at every age.
The subject of Life Insurance is susceptible o
great application; but we have not space now t
devote to discussion ofits advantages even ifthel
were not SO obvious to all prudent and reflective
men as te make their discussion unnecessary.
The Kentucky Mutual Life Insurance Com
pany" claims share of the public patronage.