, 1870-04-12
LIE INSURANCE

to III Aea copy OF th6 new Life In.
sufanee Companies act, now pending be.
tore the british House of Commons. and
nkeiy TO be passed It Will be found
u one or two respects much more effective
LIED any statrte, 50 far as ne are avnre.
yet adopted in this country. In addition
70 providing for deposit of capital at
starting, 10 the amount of twenty thousand
pounds, with the Accountant General of
the Court OF Chanccry, and for periodical
examinations of its solvency by actunsios.
ENC publication of statements OF its condi.
non' anu forbidding the amalgamation or
consultation of companies without notioe
az and the consent of certain portion
OF its policy-holdera, there is tha follow.
1ng provision for testing the solyencr of
companies, and winding them up, on The
application of any policy-holder whom their
actual reserves fall below the point Of
safety We commend this clnuse to tbe
attention, as well Of the life insurance com.
panles themselves rs Of those Legislatures
IN the several States which are now acting
upon this Question It is as follows:
,o,,, Tag court may order the ndIuR-up Of anv
fsxa fsxapany, a u acceptance E1th1Thc Companlea act
mills
tae af sss mrep ~ being
insolseat md IN determining whe,ae. or nns ths
eount i5 enn1inHe me Coa ahhl take into
fo!tesst and annuity and other 47istn9 eoy.sacss.
don nntl sscnpte ~ ~. stse bearing to the pe-
The Judge shan thinr fsa.oaah,o % @1Sens aen a. a.
ests5,saed to t. s9se,3 1 {se &c S.se shall also be
u the caso Of proprietary campan, hsFtn;v Aan an
up he oai ases, oa n amount suMeent 70 mike
re ssstnsa,.d laea:i*s The Goart saal SUSPEND
be tine In H. i,crn,tn VI Inc m!tlon for reasons
.ne uneaed capital o. suetent mt taen 70 enf9o fS
y extended e or y risn H. sha tha o. tae 9gaa Or
hs haye bee been suspended, such an amount s6an aot
y nsssad asse to e. o. taa ea - as tbs wh tne
tSs connsne m u1ef IL ~, BE- made o. ne petition ~
Il Vii r. ~ saa., ~ s,.a ltusea 4nsolsent
OF insolvency under this act IL tha snn,s
which We have made in tbe ,rt;o1., 49, 49, . LaAe
published on thin nro,.;an ~ .-no
actual invested assets 1not Il .s.,.a..;. ~ 'no
course Of collection" aaafa,,ad -.
uns~ or u,ra.,;.,, -. p.onu-
anount Of the est;motad 1raz,,. e9ua ,.I,.'. tne
Of the comnenias7 r. 80 ~, s1ooNaA'es
of neootiai,lc sacn-;+;.. 49, @ =. A',410o'
tho company oou,1 h ;tx - aas,,,t1, sn % An4o ny
aucs reserya2 nndar ,n,h . .I.sS ae
a lsrco nn,nbor ~ .ha = a1o% .stol' 4ol'e
which are NOW 1a..o5 a.. aay~sS. - :
,,.,,,;t+.a =. -. e'oH' ~ oehg
tha;+ +,,,a.-:-- A..A VI t"o-InHos OF
mia nnem;n,n, ~ 49, 1ntr,-s ~ - .ue .ofm OF nh-
wound mn and c,oasd rs Snao,u.n. " NJ ~
an aske1 h. IN. ~ 49, I.- no
10 state xhich connnan;.s 4has.
not nurno.. r., hs r,;da5 - ~ ~ w w
cur statemonss .,r tbo r.,,,... - :..N.
oreans. without sttact;nn nns,t;,.1.. ea
usnies. We siur,,r ca,, N. st+o.tses ss ~
insurin5 rp1,1;c n ~. was,-ss.HN " oA .u'
IF Companies md 1aaro ~ thass - 80. ~ eA@ss
they easily may, which ara tbo comnaniaa -
IN question.
It makes no difTarancc IN nr;n,;,,o ~.
only In degree. rbe.her nran,;r,, .et1 oas
taken fno1n tha ,ner-os -. =,
Of the futnrc ravrar,a dn...r
axnected lifa of n. -, 49, {
.hev onlr t,,-,, So
either case il Il fntnra ;nco.na % Tsa N I
national eountaa tbie g et..~s ~
). reserv.s, esti,n,.;n, :. o xeu income as {
,ectca ,;rcs -, ;te ;,ss - 40, 'ne n "nols e. J
IN fo~ 1 +
Mia n,o.ont ...s. Ao se~t aa" oeen t
orty Tesrs xn,,1d '' ha-a t,n ,o,u.e , income for
INES },at,or o,J .so.a law oesn Only forty r
ncorno 10 - 49,. s.." a4uAoie: ntofe
,1e,ent asss, Eh;ot s1s'u, Vna'esof, valid Il
,.- =, ~. . NJ souteo ~ 4
49,. 'es OK LIE com- r
I,cn ~ ~. 'Ds payment o. it, policies =
,.a.A ' "e taase OF it :,
~ ~. @' Aot Il uas one advantage over
anr - csns ses ~, :. .. asse1a ": The CON- -
us1oa. 'peno Il 1nefe are n
companlea' ~ We have said, y
Aen cannot count up more than one-ihird ~
'e amount Of actual invested assets &c
onputed to be necessary for The nar1nant y
their future policies, and which oa1v
alntoln TIC eemblAnce Of solveucy by IL
uniting their {" deferred psemiums rro, to
i1m IL notes, and premiums IN eour.. Of N
'Aeeoon, Tor two-thirls Of their reseryes CO
Ibis, We say, is future income, and tho Sc
r. fFNr IL j