Towns > Edinburgh > 1838-1846 - Post-Office annual directory and calendar > 1838-39

S34 ^^ Insurance Companies.
NATIONAL LOAN FUND
LIFE ASSURANCE SOCIETY,
CAPITAL £500,000.
A
Patron,
His Grace the Duke of Somerset, F.R.S.
Direclors,
T. Lamie Mueray, Esq., Chairman.
George Lungley, Esq.
Kenneth Mackenzie, Esq.
John Rawson, Esq.
.Joseph Thomson, Esq.
W. S. B. Woolhouse, Esq. Actuary.
Col. Sir Surges Camac, K.C.S.
J. EUiotson, M.D., F.R.S.
C. Farebrother, Esq., Aid.
H. Gordon, Esq.
Robert Holland, Esq., M.P.
F. Ferguson Camroux, Esq. Secretary.
69, CORNHILL, LONDON ; and
36, M''estmoreland Street, Dublin ; 45, South Castle Street, Liverpooi, ;
28, Corn Street, Bristol.
LOCAL BOARD FOR EDINBURGH.
Directors.
J. S. More, Esq., Advocate.
Dr Sanders.
Joseph ISIacgregor, Esq. Accountant.
George Grant, Esq., Advocate.
William Taylor, Esq., Leith.
Robert Anderson, Esq., Leith.
Bankers^ — The Commeeciai Bank of Scotland,
R. \V. Jameson, W. S., Agent and Secretary,
Office, 36, New Buildings, North Bi-idge (corner of Princes Street.)
LIFE ASSURANCE SOCIETIES are of incalculable value iu mitigating the evils flowing out of
the individual uncertainty of life, and in equalizing to the survivors of a short life the fruits of
a long one.
The important advantages they confer, however, are as yet almost exclusively enjoyed by the upper
classes. The great bulk of society, possessed of no certain income, relying on the exertions of indus-
try for support, however ample for tlie present, but subject to the various uncertainties of life, seldom,
in any number, resort to Life Assurance for the provision of a family. The apprehension of misfor-
tune, and the uncertainty of a continuation of their income, deter them from entering into Contracts for
Assm-ance, where the advantage, being so remote, is moreover made to depend on the chances of
• a, permanent state of prosperity, over which the most prudent have no kind of control.
To remedy the defects of the present system, the application of a new principle is required, viz. — to
make the advantage derivable from an annual saving or accumulation contingent on two or more
chances, — death — or misfortune during the lifetime of the party assured. Therefore, to include all
classes, those who do, and those who do not, possess certain incomes, that plan of Life Assurance
•would far surpass all others in utility and attraction, which would convert the annual saving or pre-
mium paid by the assured, either into a protection to him, in the event of misfortune, — the means of
promoting at all times his present interest, — or a provision for his family at death.
By the plan of this Society, it is intended to give the most powerful encouragement to lay up a pro-
vision for the future. It is therefore proposed, that the fund arising out of the premiums paid by the
assured shall be made capable of fulfilling two or more objects, — ist, The payment of the conti'act on
the policy, -dly, A loan fund, out of which the assured will be entitled, imder certain guarantees, to
borrow equal to two-thirds of his payments. 3dly, in tlu' event of inability to continue his payments,
such equitable disposition of Ids interest in his policy will be allowed him as he may choose. By this
means his apprehension of great pecuniary loss, in the event of non-payment of premium, will be re-
moved, a vast class of society will thereby be admitted, and every individual while steadily pursuing
one object, a provision for his family at death, will have, by the plan of this Society, a door open to
his saving, which will never be closed against liis own v.ants or his own use ; and thus that great class
of the community, those possessed of no certain income, who, for want of better, have hitherto availed
themselves of those useful institutions the Saving's Banks, will find, that, combined with a Life Assu-
rance, the advantage of a Savings Bank and of a Benefit Society is secured to them from the same
.source, — viz- their earnings, through means of this Society-
Under the following heads the principles of this Society are briefly enumerated ; and on considering
th^ge it will be found that in no case will the assured become a loser. In the event of death, his family