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The Standard Life Assurance Company (continued).
I. Division of Profits.
The Profits of the Company are ascertained every Five Years* and Additions, by way of Bonus, have been made to the Policies at Four Periods, 1835, 1840, 1845, 1850. The following are examples:
Date of Policy. Sum in Policy Bonus Additions. Together.
1826 1828 1831 1834 1837 1840 1843 1846 £1000 1000 1000 1000 1000 1000 1000 1000 £873 0 0 729 0 0 585 0 0 441 0 0 309 10 0 203 0 0 121 10 0 52 10 0 £1873 0 0 1729 0 0 1585 0 0 1441 0 0 1309 10 0 1203 0 0 1121 10 0 1052 10 0
H. Surrender of Bonus for Value in Cash.
According to this method, if the person assured does not. wish the sum in his Policy increased, he may surrender the Bonus, and take its value in cash; that is, instead of the amount being paid with the sum assured at death, such a sum will now be given as the Directors may consider equivalent to it in present value.
In the case of the Policy of £1000 opened before 15th November, 1825, for instance, as quoted above, assuming the party to have assured, at the age of 35, and to be now 60 last birth-day, the
wou.k* he given for a surrender of the Bonus of £873, while the Policy will continue to receive its share of profits, at future investigations, as if the surrender had not taken place.
***" -Application of the Bonus to the Extinction of Annual
Contributions.
A person, aged 45, who assured in 1830 for £1000, has received Bonus additions to the extent of £633. He pays a premium of £d7 7s. bd. but wishes to apply the Bonus in extinction of the Annual Payment. His age being 65 last birth-day, he can redeem his future Premiums by surrendering £578 14*. 9d. of his Bonus, leaving ±,04ps. 6d. to be paid along with the sum assured at death, and will receive further additions at each Investigation he may survive.
XV. Select Assurances.
The public are indebted to this Company for the introduction of new and important benefits in the practice of Life Assurance. A Standard Policy which has existed for Five Years is admissible to a class of Select Assurances ;" and in that class all Policies are unchallengeable on any ground of objection whatever. The Directors have also made provision, in connexion with that class, for relieving the Assured Tvho have no prospect of going abroad, from the usual irkome restrictions as to residence beyond the limits of Europe. Persons lending money on the security of Policies, Marriage, Trustees, and, in short, all who rely on the security afforded by Life Assurance, cannot fail to appreciate these new and important advantages.
A full report on the late Investigation of the Company's affairs and lvision of Profits can be obtained by application at the Offices or Agencies of the Company.
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