, 1869-02-13

e'n'ts .te ltss#, aud Al lops ~ e'saasb ii
s''.tt, N i,+y .le akpeptAb Of msnsAaa
4nebt Of me t4Ras, and lhey afe managed
with lnlsg'lt7, tlfa tnauFA,1ne h aafa lhF
Tia pp'ioy '|,o|hnt heynnh question,
There Ia in l4ond0n a haoietY Of An
tuattes" land there are psraons af high
standing In this enuntsy In the same pFo'
icssion, indeneudens of any lie Insurance
company, whafe business 1t Ia to deter
mine, BY mathematical calculations, the
rate OF premium tho companies shall
charge, In order to provide for all ex-
pcnEee, and still mako the pollcy-holder
safe. Tic Ac!uaries base their cal
culations on the average rate OF
mcr.ality among healthy peraons,
and compute interest On money at
~ per cent. To this ca1culstion an ad-
diuon Of from 25 10 40 per cent. called
loading" is made for expenses. Ia the
practical management Of company
there are, however, as will be seen, TWO
sources Of profit not Included In the ca
culatiou first, they get "eelected lives"
that is, extra healthy pcrHons, as policy
holders; second, they get from seven to
ten per cent for their money instead Of |
four and half. And there is still an
other Of almost equal Importance, in |
what the insurance men call "lapsed |
po1icies.a These are cases in which the |
insured person, after paying a few pre- |
miunas, neglects to pay more, and allows
his policy to BIZ forfeited. The statistics
Of Insurance show, that Of the 92,150
policies issued in 1867, by the twenty
eight life insurance companies Of the
State OF New York, 10.818 were for.
ielted in this way, thus abb
solVlrg tho companies from liability
on them. It must be perceived, from
thtse iacts, that the income of the life
insurance companies il, on The average, q
coed deal more than double what i ne
cesEary to psy the policies on the basis Of
the calculations OF the Actusrics without
the "losding," and that On the average
the companies could absorb at least fifty
per cent Of their income In expenses and
still The policy.ho1ders be safe. But the
Law Of New York {as we'll as that OF
Massachusetts and some other Gtstes), In
order to make assurance doubly sure, pro-
vides that no life insursncc company
shall begin business In the State with
q psid.up capital Of less thaa $100,000,
and Tor the security Of polcT-hollers
s'e.y .'n:,any lsluioo w nuu uoes
/ Albany, 100000 In securities worth that
eum in tie matket. In addition to this,
the law requires every c3mpsnY to keep
always IN hand, In available securities.
ss .s,,,,s.,s,as. -. .n. ,,,,a -,,,'a.,t
snes e.,,u. ,,r.,aN tss., H.. ' n''a,a. "sua
1,aa v''Ie t. ' .,,,a m''' ,ann.
lso !.,on.. ~, - .,.'.....u., sn. ss'u 't.p"n,
es'J Ptno! ~ ps -. .t4sn a.s;.. 80. 10y ="
.u.ue' 3avm .,,,t' =. .,s s'..'9 .a.s sn.non'
uune,.n t,tt4w. n 'uete .t - tea.oa H.. 49,, " po-
't,t "'t t ,Nllu,n.J .y1 % ..uu ~ ''.r tt ,n''
~ 'ne ~ wv "1h tonl'l,'Hst Wv .'',.
,i'ifnt "f,e",t 1T rl"ss'tt',ab'3' ' WI, 80. y
NV wv ~ n,ss,ne"''neu h"snm5 IN '",i
'"H'F' '"y8 e""' ~" n"''A'tT "'a"ae'''
'l't lha"taht" h'f"phht h7y aa'"'! ~
y" ,'t "'H' '. W w" n."',.'''. ~. .I, :" ,,'
Hf1H III 1|fH NV fHHt nttHf IN ~ hHF4
ttu, In natttuu ,,nt. lnt.l,,t a. xI,it sttIt N.
nun III Hotl'hh NV" ''"H"'H.' ""t' n','' ~
f,"','"' ~ n'"A'y' .'R".".' MI n''" ~ W.
: h'cf 'T"s'a"'"1 III W" '""' "at !" W.
'hn nnt'"y',"lur,n an1s.
! wv" t'''" ''"""'staa"'"A VI "" '"'o
H.. ''S ~" At" ""H. -"' nv" . " w..
D ~" tnHn' ANU e""Pa.'e" -, ~ ~" ~
"h"', 'ne t"'1"" ana ',,"n"e ,',u1 Ivy a -
ta'Rtn Ra'o 'ope ~ ''"tt & a'u =, ."' ,sn
.ney esa"e, W. tshe LUZ ''n.''.S' ,,''!' ~ '.''
! !cf"n1" lug anH"t"1." o"n,,'',''''' ',',t',H,
'"!'1' .u, ,'.'' T. n"a Jus r'5''"." -. ~.