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CLERGY MUTUAL ASSURANCE SOCIETY,
1071 full sum assured and bonuses are paid to the assured himself if he be alive, thus forming a provision for his old age, which he can either receive in cash or invest in the
CLERICAL, MEDICAL, AND GENERAL LIFE ASSURANCE SOCIETY, 15, St. James’s-square, London, S. W. purchase of an annuity from the Company (at age sixty, £500 Annual income, ;B334,474; assurance fund, £2,808,935; would purchase an annuity of £49 4s. 2d. per annum for claims by death already paid, £5,659,956. This Society, by virtue of its origin, its objects, and its life). The Company’s bonuses are declared every fifth year (intermediate bonuses are also given should the policy constitution, claims to have a special affinity with the become a claim between the periods of division). At the medical profession. Founded by a distinguished physician last division in 1889, the rate of bonus for the five years then ended ranged from El5s. to 9-2ls. 2d. per cent. per annum on the sum assured. The rates of premium are moderate, and the bonuses high in comparison with the premiums charged. The Company’s conditions include paid-up policies granted to those ceasing payments, minimum surrender values fixed, free foreign travel, free foreign residence in most parts of the world, immediate payment of claims. -
CLERGY MUTUAL ASSURANCE
SOCIETY,
2 and
3, The Sanctuary, Westminster. This Society was founded in 1829 on strictly mutual principles, and is conducted solely for the benefit of the dergy of the respective Churches of England and Ireland and of the Episcopal Church in Scotland, together with their near relatives. It has never entered into unwholesome rivalry with other insurance societies, but has trusted to its intrinsic merits and exceptional advantages. Without the employment of agents or the payment of any commission, it annually attracts a fair share of business, the average for many years having been slightly
solid
£300,000 a year.
over
for the purpose of dealing with impaired as well as healthy lives, its constitution ordained that, for the safe and more equitable conduct of its business, eight out of its seventeen directors should always be medical men, and it has ever had at its service the highest medical skill. Its present medical directors are-Sir Wm. Bowman, Bart., LL.D., F.R S. (deputy chairman), Dr. Lionel S. Beale, F.R.S., Sir Prescott G. Hewett, Bart., F.R.S., Professor Humphry, F. R. S., Sir Wm. Jenner, Bart., G.C.B., F. R. S., Sir Jas.
Paget, Bart., D.C.L., LL.D., F.R.S.,
Dr.
Douglas Powell,
and Dr. W. 0. Priestley, LL.D. As was natural, it was among the earliest to recognise the principle of paying fees to medical attendants when consulted; while now it follows the probably unique practice of consulting medical attendants in all cases, and of allowing the full fee of one guinea for each report. For the high place it holds in the favour of the medical profession, it depends, however, less on these personal con-
siderations than on that general excellence which both deserves and commands support. Its security is based on reserves as ample as any known to assurance practice ; its profits, notwithstanding its moderate rates for all forms of assurance, are so large and well sustained that it is able, at its periodical divisions, to return in cash one premium out of every three premiums paid ; while its form of policy, from which all restrictions are removed, is so absolutely simple that the payment of the stipulated premium is the sole condition on which the maintenance of the assurance
At the present time it has on its books 9528 life policies, depends. assuring the sum of £8,121,954, and to provide for the
ultimate liability under these policies it has an accumulated fund of f3,589,181 and an annual income arising from premiums and interest amounting to £371,000. The financial position is acknowledged to be unimpeachable. The distinctive features of the Society which merit the close attention of intending assurers are :1. No agents have ever been employed or commission paid for the introduction of business. 2. The expenses of management are on a remarkably low scale, averaging 6 per cent. on the premium income. 3. The business is chiefly with the clergy, among whom the death-rate is very much lower than among the general
community. The premiums charged are lower than those of the great majority of assurance societies, a fact which should be carefully borne in mind in considering the question of bonus. The following statement compares the profit divided on the three last occasions with the total life premiums received
Though the Society has the advantage of the service, as agents, of many members of the medical profession, who are, of course, remunerated as agents, it does not offer
special terms of assurance to them, of the community.
ment
to any other class
COLONIAL MUTUAL LIFE ASSURANCE
SOCIETY, LIMITED, 33, Poultry, E.C. This Society was established in the year 1873, and during the seventeen years of its existence has attained the position of second in respect of new business completed during the year 1889 among all the Life O fifs transacting business in the United Kingdom, and has accumulated funds which now
amount to
over
..................
£1,050,000
Its annual income exceeds £370,000 Being a Mutual Office, all the profits belong to the members, while at the same time the Articles of Association provide "that no liability attaches to them, the funds of the Society alone being liable for claims &c." Premiums are exceedingly moderate. The rate at age ...............
Under the 20
The bonuses declared are thus on a very high scale. We understand that the Society is about to grant endow-
or
-
years’
Limited
Payments
The bonuses are handsome, while the low rate of premiums secures a larger sum assured at the outset than can be obtained from the majority of Life Offices for an equivalent payment. For example :Office A, at age 30, whole life assurance charges
assurances--namely, assurances payable at a specified at earlier death,--and that the premiums will be lower than the general average. Of the prospects of bonus Or, in other words, for an equal premium paid to each a sanguine expectation may be formed from the statement Office at age thirty, the Colonial Mutual can grant a policy for £1160 as against £1000 in A Company, thus securing to made above. A very large number of the members of the medical the assured an immediate advantage of f160. All policies are absolutely non-forfeitable and incontestprofession, being relatives of the clergy, are qualified to share in the exceptional facilities of the Society. able from the time of issue, and no restrictions exist as to age
or
CLERICAL, MEDICAL, AND GENERAL LIFE ASSURANCE SOCIETY, 15, St. James’s-square, London, S. W. purchase of an annuity from the Company (at age sixty, £500 Annual income, ;B334,474; assurance fund, £2,808,935; would purchase an annuity of £49 4s. 2d. per annum for claims by death already paid, £5,659,956. This Society, by virtue of its origin, its objects, and its life). The Company’s bonuses are declared every fifth year (intermediate bonuses are also given should the policy constitution, claims to have a special affinity with the become a claim between the periods of division). At the medical profession. Founded by a distinguished physician last division in 1889, the rate of bonus for the five years then ended ranged from El5s. to 9-2ls. 2d. per cent. per annum on the sum assured. The rates of premium are moderate, and the bonuses high in comparison with the premiums charged. The Company’s conditions include paid-up policies granted to those ceasing payments, minimum surrender values fixed, free foreign travel, free foreign residence in most parts of the world, immediate payment of claims. -
CLERGY MUTUAL ASSURANCE
SOCIETY,
2 and
3, The Sanctuary, Westminster. This Society was founded in 1829 on strictly mutual principles, and is conducted solely for the benefit of the dergy of the respective Churches of England and Ireland and of the Episcopal Church in Scotland, together with their near relatives. It has never entered into unwholesome rivalry with other insurance societies, but has trusted to its intrinsic merits and exceptional advantages. Without the employment of agents or the payment of any commission, it annually attracts a fair share of business, the average for many years having been slightly
solid
£300,000 a year.
over
for the purpose of dealing with impaired as well as healthy lives, its constitution ordained that, for the safe and more equitable conduct of its business, eight out of its seventeen directors should always be medical men, and it has ever had at its service the highest medical skill. Its present medical directors are-Sir Wm. Bowman, Bart., LL.D., F.R S. (deputy chairman), Dr. Lionel S. Beale, F.R.S., Sir Prescott G. Hewett, Bart., F.R.S., Professor Humphry, F. R. S., Sir Wm. Jenner, Bart., G.C.B., F. R. S., Sir Jas.
Paget, Bart., D.C.L., LL.D., F.R.S.,
Dr.
Douglas Powell,
and Dr. W. 0. Priestley, LL.D. As was natural, it was among the earliest to recognise the principle of paying fees to medical attendants when consulted; while now it follows the probably unique practice of consulting medical attendants in all cases, and of allowing the full fee of one guinea for each report. For the high place it holds in the favour of the medical profession, it depends, however, less on these personal con-
siderations than on that general excellence which both deserves and commands support. Its security is based on reserves as ample as any known to assurance practice ; its profits, notwithstanding its moderate rates for all forms of assurance, are so large and well sustained that it is able, at its periodical divisions, to return in cash one premium out of every three premiums paid ; while its form of policy, from which all restrictions are removed, is so absolutely simple that the payment of the stipulated premium is the sole condition on which the maintenance of the assurance
At the present time it has on its books 9528 life policies, depends. assuring the sum of £8,121,954, and to provide for the
ultimate liability under these policies it has an accumulated fund of f3,589,181 and an annual income arising from premiums and interest amounting to £371,000. The financial position is acknowledged to be unimpeachable. The distinctive features of the Society which merit the close attention of intending assurers are :1. No agents have ever been employed or commission paid for the introduction of business. 2. The expenses of management are on a remarkably low scale, averaging 6 per cent. on the premium income. 3. The business is chiefly with the clergy, among whom the death-rate is very much lower than among the general
community. The premiums charged are lower than those of the great majority of assurance societies, a fact which should be carefully borne in mind in considering the question of bonus. The following statement compares the profit divided on the three last occasions with the total life premiums received
Though the Society has the advantage of the service, as agents, of many members of the medical profession, who are, of course, remunerated as agents, it does not offer
special terms of assurance to them, of the community.
ment
to any other class
COLONIAL MUTUAL LIFE ASSURANCE
SOCIETY, LIMITED, 33, Poultry, E.C. This Society was established in the year 1873, and during the seventeen years of its existence has attained the position of second in respect of new business completed during the year 1889 among all the Life O fifs transacting business in the United Kingdom, and has accumulated funds which now
amount to
over
..................
£1,050,000
Its annual income exceeds £370,000 Being a Mutual Office, all the profits belong to the members, while at the same time the Articles of Association provide "that no liability attaches to them, the funds of the Society alone being liable for claims &c." Premiums are exceedingly moderate. The rate at age ...............
Under the 20
The bonuses declared are thus on a very high scale. We understand that the Society is about to grant endow-
or
-
years’
Limited
Payments
The bonuses are handsome, while the low rate of premiums secures a larger sum assured at the outset than can be obtained from the majority of Life Offices for an equivalent payment. For example :Office A, at age 30, whole life assurance charges
assurances--namely, assurances payable at a specified at earlier death,--and that the premiums will be lower than the general average. Of the prospects of bonus Or, in other words, for an equal premium paid to each a sanguine expectation may be formed from the statement Office at age thirty, the Colonial Mutual can grant a policy for £1160 as against £1000 in A Company, thus securing to made above. A very large number of the members of the medical the assured an immediate advantage of f160. All policies are absolutely non-forfeitable and incontestprofession, being relatives of the clergy, are qualified to share in the exceptional facilities of the Society. able from the time of issue, and no restrictions exist as to age
or