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HAND-JN-HAND INSURANCE SOCIETY (continued).
That the profits are divided annually amongst all Members of Five Years standing, and applied towards reducing Life Insurance to the lowest possible rates of Premium, the abatement for the year 1842 being at the rate of 45/. per cent., that is, a Policy taken out on or before the 24th June, 1837, at an Annual Premium of 100/., will be charged 55l. as this year's Premium, and it is expected that an equal abatement will in future be annually made.
That Persons insuring their own lives, or the lives of others, may become Members.
That Persons who are willing to forego participation in the profits can insure at a lower rate than that charged to Members.
The Business of the Society comprises not only insurances on lives, but also the granting of immediate, deferred, and contingent annuities, either by single or annual payments.
The following Table will show the effect of the reduction made by the Society on Members' Policies that have been Five Years in force:—
Age when Insured. Sum Insured. Annual Premium for first 5 Years. Reduction on 6th Premium. Premium Payable for 1842.
£ s. d. £ s. d. £ s. d.
27 2000 50 1 8 22 10 9 27 10 11
28 2000 51 1 8 22 19 9 28 1 11
35 2000 59 16 8 26 18 6 32 18 2
43 2000 73 13 4 33 3 0 40 10 4
52 2000 96 8 4 43 7 9 53 0 7
57 2000 114 0 0 51 6 0 62 14 0
This system of reducing the Premiums affords immediate benefit to the Members, or enables them to insure a further Sum upon their Lives equal to one-third of the present Policy, without any additional outlay.
The Society's Rates and Proposals may be had at the office in London or of any of the Agents in the Country, who are authorised to report on the appearance of lives proposed for insurance.
AGENT FOR SOUTHAMPTON AND ITS VICINITY:
THOS. HANS EDWARDS, Esq., Solicitor.
MEDICAL REFEREE:
JOHN RUSH WORTH KEELE, Esq., Surgeon.
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