Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1871-1872

THE
SCOTTISH PEOVIDENT INSTITUTION.
6 St. Andrew Square, Edinburgh.
DIRE
GRAHAM BINNY, Esct-, W.S.
NEIL C. CAMPBELL, Esq., Sheriff of Ayi-shire.
P. GUTHRIE TAIT, Esq., Professor of Natural
Philosophy, University.
JOHN AULD, Esq., "W.S.
J. PARKER, Esq., Inland Revenue.
JOHN GARMENT, Esq., Preses, Society of S.S.C.
EDMUND BAXTER, Esq., the Auditor of the
Court of Session.
C T O R S.
JOHN COWAN, Esq., of Beeslack.
GEORGE ROBERTSON, Esq., C.E.
A. KEITH JOHNSTON, Esq., LL.D., H.M.
Geographer for Scotland.
JAMES CATHCART, Esq., Merchant, Leith.
WILLIAM WATSON, Esq., Advocate.
THOMAS STEVENSON, Esq., C.E.
JOHN MACFIE, Esq., Whitehouse.
STAIR AGNEW, Esq., Q. and L.T.R.
SHORT STATEMENT OF PRINCIPLES.
THE SCOTTISH PROVIDENT INSTITUTION is the only Office which combines the
advantages of Mutual Assurance with Moderate Premiums.
Instead of charging rates admittedly higher than are necessary, and afterwards return-
ing the excess, or a portion of it, in the shape of periodical Bonuses, it gives from the first
as large an assurance as the Premiums will with safety bear — reserving the Whole Surplus
for those Members who have lived long enough to secure the common Fund from loss on
account of their individual Assurances.
A Policy for £1200 to £1250 may thus at most ages be had for the Premiiim elsewhere charged
to assure £1000 only; while the effect of reserving the Surplus has been, that Policies
originally for £1000, which have shared at three Septennial Investigations, have already
been increased to £1400, £1600, and even to £1800.
TTS TERMS are thus well calculated to meet the requirements of intending Assurers.
They are specially adapted to the case of Provisions under Family Settlements or other-
wise, where it is of importance to secure, for the smallest present outlay, a competent pro-
vision, of definite amount, in the case of early death.
BUSINESS IN 187 0.
nriHE Directors' Eeport showed that, notwithstanding the marked falling off in the amount
-•- of Assurances last year in offices generally, the business of this Society maintained its usual
steady and progressive advance. The New Assurances accepted and carried out were 1163, for
£612,025, 8s. The Yearly Premiums were £19,481, Oa. 2d. ; Premiums by single payment,
£1283, 7s. 6d., with the further sum of £5521, 6s, Id. for 16 Annuities. Proposals for £103,176
were declined. The Claims, by 177 deaths, amount to £111,057, lis. 6d., — considerably being
within the estimates.
There had been issued in all 21,132 Policies, assuring £9,857,508, lis., of which 15,206, for
£7,188,565, 15s., with £192,475, Is. 3d. of Premiums, remain in force. The total Eeceipts in the
year, including interest, were £275,030, 19s. 4d. The Realized Fund, increased in the year by
£129,001, 15s. lOd., amounted on 31st December to £1,765,251, Os. 10s.— of which the details are
given in the Keport.
The Eates for other Ages, or for other periods, may be had on application.
*»* Example. — A person aged 30 may secure £1000 at death, by a yearly payment, during life, of £20, 15s. This
Premium, if paid to any other of the Scottish Mutual Offices, would secure a Policy for ^SSOO only, instead of £1000.4
Or, If unwilling to burden himself with payments during his whole life, he may secure the same sum of £1000
bv twenty-one yearly payments of £27, 13s. 4d. At age 40 the Premium, ceasing at age 60, Is, for £1000, £33, 14s. 2d.,
being about the same as these Offices require during the whole term of life.
Reports, with Statement of Principles, and every information, wm be furnished on application.
JAMES WATSON, Manager.
May 1871.