Towns > Edinburgh > 1805-1834 - Post Office annual directory > 1826-1827

Insurance Companies. US
LIFE ASSURANCE SOCIETY,
(Founded on the original Model of the Equitable Society of
London,)
2 south st david's street, Edinburgh.
'This is the oldest Scottish Establishment for effecting as.
surances on lives and survivorships. From the nature of its
constitution, (which is formed on the original model of the
Equitable of London,) it presents advantages which no insti-
tution with which a body of proprietors is connected can pos-
sibly offer. The rates of premiums are lower than those of
the Equitable, and most of the other London offices, and THE i
whoi.e profits belong to and are divided periodicallj
among the assured. From this, it is evident, that assurance!
are effected at this office on the lowest possible terms ; an]
surplus funds, above what is required to answer the actua
demands against the Society from losses, and the expense o
an economical management, being returned to the members
The rules of distribution of the surplus funds have beei
formed upon the most equitable principles, by individuals o
great skill and experience in such matters. At the first pe
riodical investigation of the affairs of the Society, which tool
place at 1st January 1825, in terms of the- articles of constitu
tion, there remained, after setting apart one-third of the fre
surplus ascertained at that date, as a guarantee fund, a divi
sible surplus " sufficient for making additions of TWENTY
six per cent, to the whole benefits assured by policies is
sued prior to 1st January 1820, and entitled to additions, i
terms of the articles of constitution." In this way, a polic
opened prior to 1st January 1820, for £1000, is already in
creased to the sum of £1260, which will be paid on the d<
cease of the party assured ; and there is reason to think, thi
the future additions will be in proportion. Less considerah
contingent prospective additions, in the event of a membi
dying between any two periods of investigation, have likewis
been provided for. The office-bearers are chosen by the men
bers of the Society, and must themselves be members, and
course personally interested in the Society.
Copies of the prospectus, containing an ample expositio
of the principles and rules of the Society, together with tabl<
of rates, may be had gratis at the Society's Office, No.
South St David Street, where every information may be ol
tained.
John M'KeXN, Manager,