The Sun. — 1852-09-28 (London, England)

WELLINGTON.  The principles and practice of life assurance are now universally recognised. There are few persons in receipt of incomes more than sufficient to meet their daily expenditure--so far as the mere necessaries of life are concerned—who do not deem it expedient to set aside a portion of their receipts for the purpose of meeting some extraordinary demand or emergency, for which they would be unable to provide from their ordinary resources. Even persons in the possession of accumulated atid realised property, who are themselves placed beyond the possibility of personal distress, so far as human foresight can make provision for future contingencies, desire to appro• priate a portion of their superfluities to the acquisition of additional means. The power of rendering wives and children independent—of securing the possession of an extra sum, beyond that included in the marriage settlement, or at the disposal of the husband or father, or, with a single man, the possibility of entering into those sacred relations—or even the mere desire of accumulation, although without any definite object—are sufficient to make every man of ordinary prudence set aside or save a considerable portion of his ordinary income. If, however, men of property and substance are thus provident, how much more desirable is it that those dependent on their own exertions for support, who owe their daily bread to their daily labour, should exhibit similar forethought, and endeavour to secure the means of livelihood for that period of life when the decay of his mental or physical powers may render each incapable of " winning his ein bread." Such persons are grossly culpable if they neglect this palpable duty, and the acknowledged necessity of such an appropriation is one of the strongest arguments against the present unjust, oppressive, and inequitable assessment of the income and property-tax. Under such circumstances, it is by no means surprising that the annual savings amount to about onefifth, or 20 per cent. of the annual revenue. That proportion is usually re-invested, and one of the most popular forms—for the advantages of mutual support and co-operation are now thoroughly appreciated—is by way of " LIFE ASiURANCE." A man full of strength and activity, confident in his own Powers, will brave every danger, so long as life be spared, but he must succumb to the ordinary lot 4. mortals. Death may approach at any moment, and he feels that to be the chief, if not the only, contingency to be guarded against. It ' S unnecessary to say that many companies have I been formed to meet the general demand for " assurance facilities ;" some have been in existence for many years, and have accumulated immense property. Any establishment indeed conducted on just and honest principles must have succeeded A larger proportion have more recently sprung existence, and they else, whenever the management hri been unexceptional, have , generally speaking, in their dealings have exhibited than the more ancient eratinldity established concerns. however, recently b, An onslaught has, been made on the junior branches by or on behalf of the seniors. It is said that there is no sufficient se unity for the assured—that nothing but an am Y ple, a colossal paid-up capital can give that perfect guarantee es_ sential in such a case. These cavillers appear to forget that if their arguments were well founded, the more ancient establishments should long since have closed their doors in a state of hopeless insolvency—they could not have successfully encountered the difficulties enumerated, but must either have made heavy calls on the proprietors and shareholders, or defrauded the assurers.  We do not wish to be understood as making any charge against the old companies. They discharge their obligations to the very hour, pay very handsome dividends to the shareholders, and have large reserved funds ready for any favourable investment. But these funds have been gained from " the assured," and the young companies can (10 the same, and become in due time as prosperous. =day, more, the great experience now obtained in matters once obscure and comparatively unknown, "sable new companies to offer advantages to the assured, and that without any loss to themselves, which the traditions of the ancient offices, and the influence of very re.pectable, but rather antiquated, officers, prevents their rivals from sanctioning. As an illustration of these points, we would direct attention to the advertisement of a comparatively junior company, which o will be found in another column. There we find the board of direction comprising a body of gentlemen of unimpeached and unimpeachable respectability, whose characters will afford ample security against any unfair play or hwiedi insolvent. i we ieg,fornothngelse can render an insurance company also find that the greatest objection to life assurance, which has prevented many parties from availing themselves of possibility of its advantages—the being un able to keep up the annual premium, is obviated. An option will be allowed to every person of withdrawing the sum which the policy is pay any further premiums, at hnedn havingwor worth, or otrh ceasing e aesqi nu g to pay value secured at death. The benefits thus conferred may be best estimated from the fact that without such a proviso the policy might lapse, and all previous payments become forfeited to the society. In addition, there is every other advantage offered by other companies. "The policies are not void by suicide." Diseased lives, refused by other offices, may be accepted, and payments received in the manner most convenient to the assured. The policies will really be indisputable, for the grounds on which the liability could be litigated will not be inserted in the policy, and will, therefore, not be regarded as a warranty by the assured, a failure of which would render void the obligation on the part of the company. The secretary and actuary deserves much credit for the manner in which he has got up the concern, for it is on that officer that the responsibility mainly falls, and Mr. C. W. &PAN has proved himself an acquisition to any company. We doubt, then, if any of the old companies could offer greater inducements to new customers than may be obtained from modern companies, and few offer so favourable a combination as