Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1872-1873

EDINBURGH AND LEITH
LIFE ASSOCIATION OF SCOTLAND.
FOUNDED 34 YEARS AGO.
Claims and Cash Bonuses paid,
Income for 1871, . . . ,
Funds on hand in 1871, .
£1,843,375.
306,715.
1,350,000.
BONUSES FROM PROFITS.
ASSURERS have the choice of two separate classes of Assurance, — distinctive mainly
in the systems of allocating the Profits, and which in several respects are peculiar to the
Life Association. Thus :
The Expe7ise of Life Assurance is 7nuch
diminished by the Bonus System in
Class A.
The Cash Bonuses are allocated every year to Policy-
holders of five years' standing who have paid six years'
premiums, and are applied in part payment of the next
due premiums. The Bonuses thus virtually become
A Life Annuity to the Policy-holder.
The Outlay required for a Policy has thereby, after the
sixth year's payment, been reduced to 25, 30, or 375 per
cent, less than the usual amount, according to the dates of
the Policies.
This very Important Saving
to the Policy-holder in no way affects the Sum Assured,
and he is thus enabled to take a considerably larger
Assurance at first than he could otherwise adopt ; or, if
he continue eligible, he may afterwards, by means of the
Cash Bonuses, effect Additional Assurances.
The Bonus in any year may, of course, be greater or
less than formerly, or it may be of the same amount as in
past years.
Until the time of participation in Profits, the Policy-
holder need pay only three-fourths of the tabular pre-
mium ; the unpaid portion, with interest, remaining a debt
on the Policy so long as he pleases, and to be deducted
from the Sum Assured at death, if not previously liqui-
dated.
In Class B. the Bonuses are Additions
to the Sums Assured, a)id available as a
Provision for Old Age.
The System, it is believed, is peculiar to the Life
Association of Scotland, and the results are such,
that instead of being an Expense and Burden, the As-
surance becomes a source of
Income to the Policy-holder
in the after-period of his life, the Sum Assured remaining
untouched for payment at death to his representatives.
The PROFITS are allocated every five years in the
form of Additions to the Sums Assured. Further, they are
not frittered away in the usual comparatively small Bonuses
to all the Assured, whether dying early or late, but are
reserved for those who do not die before the average
period. At each of the Divisions of Profits in 1865 and
1870, the Bonus declared for every year's premium paid
on a Policy was £^ per ;£ioo, or £^o per ;^iooo, and pay-
able with the Sum Assured, in the event of the Policy-
holder attaining the average period of persons of the same
age. Further, the Bonuses may be exchanged at the
average period of life for a Cash Payment or a Life
Annuity to the Policy-holder himself, — the Sum Assured,
as well as future Bonuses, remaining intact.
NON-FORFEITABLE PREMIUM SYSTEM,
( Which this Institution was the fist to introduce into this Couiitry).
By this plan the whole Sum Assured is payable at the death of the person named, whenever it
may happen, but the premiums are payable only during 10, 15, 20, 25, or 30 years (as may be
agreed on), if he live so long.
Further, should the Policy-holder discontinue the Assurance at any time after two payments, lie
will receive, in exchange, a Paid-up Policy for as many loths, l^ths, iQths, Z^ths, or TiOths of tiie ori-
ginal Policy as he has paid p»-et!i!ums. The great advantages of this system are obvious. By each
payment (after the first), the Policy-holder secures unfailingly and finflly 2i^xoT^ox\i\ow3.\.G: part of the
Policy, whether or not he elect to go on with the remaining payments. He is thus completely p7-o-
tected against loss of Preniiunis, if from omissio)i, inability, or any otJier cause, he discontinue the
payments for his Policy. Such Policies are therefore unusually valuable ; and when taken in Class
B., in which there are no restrictions as to residence, they are virtually Absolute Bonds for the
Sums Assured payable on death. This privilege, however, is not applicable to any Policy until the
Paid-up Assurance, calculated as above, amount to not less than ;^25.
Prospectuses will be fonvarded on application, also the Annual Report, with Revenue
Account, Balance Sheet, and Details of Funds, etc., as deposited with the Board of Trade.
EDINBURGH, 82 PRINCES STREET.
LONDON, . . 5 Lombard Street.
,, (West End) 48 Pall Mall.
GLASGOW, . 123 St. Vincent Street.
DUBLIN,
BELFAST,
DUNDEE,
40 Dame Street.
19 High Street.
31 Reform Street.
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