The times., 1899-09-24
PRINCE OF WALES INSURANCE
Royalty Not n Good Risk, Though Its
Policies Are L1iree. -


A big insurance man told me recently in
New York that the Prince of Wales was the
heaviest risk of any patron of the insurance
business, and that his death would cost
English, German, French, and American
companies not less than $40, 100000 -
mo other person carries 20 per cent of
that insurance" he said, "but comparatively
little of it is for the benefit of the family;
perhaps not more than 100000. Some
years ago large policies were taken out by
his creditors as security for money loaned.
If he should ever pay his debts they would
of course revert TO him, and might be car
ried for the benefit of his family, but his
premiums, like the premiums on all of the
royal families of Europe, are very high
much higher than those paid by private
individuals for the same amount of in
surance.
1T is a curious fact" continued ny
insurance friend, who spends a good deal
of his time in England, that $1,000. 600 or
SO, GOO of insurance, perhaps more than
that, has been placed on the life OF the
Prince of Wales as a speculation by per-
sons who do not know him and have never
had any relations with him whatever. This
would not be possible under the insur-
ance laws of the United States, but 1t is
allowed by some of the English companies.
| Over there any man can secure policy on
the life of a neighbor, provided he can
persuade the neighbor to submit to a medi-
cal examination or find a company which
has recently had him examined. Thus,
when the Prince of Wales undergoes an
| examination for insurance lots of specu-
lators apply to the same company for poll
| cies on his life. or get certihcated copies
of the report of the medical examiner and
use them with other companies. 1t Is
pure speculation. They pay a high pre-
MUM, margin, so TO speak, or, TO put
| it in another way, they book wager with
| the insurance companies that the Prince
will die before the total of their premiums
exceeds the amount Of the policy. There
fore, many persons would be financially
| benefited if Albert Edward should drop of
| suddenly one of these fine days. The
! Prince is perfectly aware of this fact He
/ knows very well what advantages have
been taken of his situation, but ! do not
suppose it makes any difference with his
habits"
"Are kings generally insured - asked
''Yes, most of them, but they are not re-
garded as a good risk, and companies that
carry the policies do not advertise the fact
any more than necessary. 1t Injuries rath-
| er than benefits them. The late Emperor
Frederick. father Of the present Kaiser
carried nearly S.. .000.0 900 of insurance
| which is about all the money his widow
has to live on. for her pension from the
| German Government is small. Frederick
| was considered first-class risk. He was
man of robust health, splendid stature
with the training and frugal habits of g
soldier. and was an athlete: but all al
once cancer was discovered, which he
doubtless inherited from his grandmother
the beautiful Queen Louisa, and he failed
rapidly. The present Kaiser is not consid-
| cred good risk This is quite as mucf
because of his constitutional defects as fol
political considerations, but for obvious
reasons no company would decline an ap:
plication from him for insurance"
| 81 understand the Queen of Spain Ii
heavily insured?'
Yes, that is supposed to be the case, al
though little is known about it, and tht
prevailing impression is that most OF hel
policies are in American companies, which
have agencies in Madrid. Alfonso XII. hei
husband, was insured in several French
and English companies-some say to the
extent of $1,000, 600, but / do not know th'
| exact amount"