Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1890-1891

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THE CORPORATION OF THE Jy^i^-]-*'
Scottish Provident Institution.
NO. 6 ST. ANDREW SQUARE, EDINBURGH. j^Q ^^
SXrectors.
GEORGE M PAUL, Esq., W.S.
Professor P. G. TAIT, Edinburs;h University.
Sir WM. MUIR, K..C.S.I., Principal Edinburgh
University.
A. R. GILLESPIE, Esq., Trinity.
M. T. STORMONTH DARLIN i, Esq., Q.C,
M.P., Solicitor-General for Sc >tland.
Prof. S. H. BUTCHER, LL.D., Edinburgh
University.
Sir ALEX. KINLOCH of Gilmerton, Bart.
FINDLAY B. ANDERSON, Esq., C.A,
GEORGE DUNLOP, Esq., W.S.
Sir THOMAS J. BOYD, Chairman of the Fi.shery
Board for Scotland.
Sir CHARLES PEARSON, Advocate, Sheriff
of Perthshire.
JOHN J AS. COWAN, Esq., Papermaker, Edin-
burgh.
JOHN CAY, Esq., Solicitor to Post Office for
Scotland.
WM. JOHN MENZIES, Eso., W.S.
JAMES PATTEN, Esq., Advocate.
The 52nd ANNUAL GENERAL MEETING was held at Edinburgh on 26th March 1890.
The following are the Results reported for the year : —
The NEW ASSURANCES completed were ^^i, 023,179.
Being for the idth year in succession above a Million.
PREMIUMS in year ;^6i2,i92. Total INCOME ^893,109.
The Expenses were under 10 per cent, of premiums, or 55 of Total Income.
The CLAIMS of year (including Bonus Additions*') were _^3i2,7o6.
* These averaged so'j per cent, on Assurances which participated.
THE ACCUMULATED FUNDS NOW EXCEED SEVEN MILLIONS.
Their Increase, the largest in any one year, was ^£476,999.
THIS SOCIETY combines the advantages of Mutual Assurance with Moderate Premiums.
The premiums are so moderate that at usual ages for Assurance
^1200 or ^1250 may generally be secured from the first for the yearly
payment which usually would be charged (with profits) for £,\ooo only —
equivalent to an immediate Bonus of 20 to 25 per cent.
The WHOLE PROFITS go to the Policy-holders, on a system at once safe
and equitable, — no share being given to those by whose early death there is a
loss. Large additions have thus been, and will be, made to the PoHcies of those
who participate, notwithstanding the lowness of the premiums.
The SURPLUS at last Investigation was ;^i, 05 1,035, of wh-'ch ;^350,345 was resen'ed
for future participation. The number who shared was 9384. First shares (with a few
unimportant exceptions) ranged from 18 or 20 to 34 per cent-, according to age and class.
Other Policies were increased in all 50 and 80 per cent.
N.B. — It is to be borne in mind that had the higher premiums usually charged been paid, not only would
the original assurance have been greater, but the amount of bonus additions would have
been correspondingly larger.
[The usual non-participating Rates differ little from these Premiums.]
* A person of 30 may secure £1.000 at death, by a yearly payment, during life, of £10, 15s.
This Premium would generally elsewhere secure £800 only, instead of £1000.
OR, be n.y secure ;£iooo by 21 yearly payments of ^27, 13s. 4d. — being thus fi-ec 0/ payment after age 50.
t At <yQ 40, the Premium ceasing at age 60, is, for iJiooo, ;£33, 14s. 2d.— about the same as other Offices
require duir,g the whole of life. To PROFESSIONAL MEN, whose income is dependent on health, this
limited payient system is specially recommended.
Arrangeients as to Surrender, Non-forfeiture, Free Residence, etc., are specially liberal.
Policies,!^ a rule, are World-Wide after five years^provided tlie Asswed has attained the age of 20.
Copie^f the Report for 1S89, with full Statement of Principles and Tables of Rates, may be had.
Edin-burg,, I\fay iSgo.
JAMES GRAHAM WATSON, Manager.