Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1899-1900

926
POSTAL DIRECTORY— RATES.
Forms of proposal for the insurance of lives
and the purchase of annuities may be obtained at
any Post Office Savings Bank.
Persons pi'oposing to insure their lives or pur-
chase annuities, must furnish a statement, giving
full particulars of their age, upon a form which
will be supplied by the Postmaster with the form
of proposal.
If such statement can be verified by the Ee-
gistrar-General, Loudon, no further evidence of
age will be required, but if not, proposers must
provide, at their own cost, such certificates of
birth or baptism, or other evidence of age, as
shall be required of them.
When the age has once been proved, further
contracts are granted without requiring any
further evidence of age.
The premiums will be payable through the
medium of Savings Bank deposit accounts, and
will be accepted in addition to ordinary deposits
and deposits for immediate investment in Govern-
ment Stock.
An annuity or insurance contract is issued on
payment of the purchase monej' if a single pay-
ment, or of the first annual premium in full.
Provision can be made for the payment of pre-
miums by increasing the money in the Bank by
deposits of not less than Is. at any Post Office
Savings Bank, and by the use of the penny
jDostage stamp slips, the provision can be made
in sums of Id. at a time.
So long as there is a sufficient sum standing to
the credit of the deposit account, each premium
will be deducted therefrom as it becomes due,
without the depositor being troubled in the matter,
and notice will be sent as evidence that the pre-
mium has been paid. If the balance in the ac-
count is insufficient to cover any premiiim due,
the depositor will be informed accordingly, in
order that he may make a deposit, which may be
done at any Post Office Savings Bank. If desired,
the premiums can be transferred from the account
of any person other than the annuitant or insurant,
with the consent in writing of the depositor.
INSURANCES.
The following examples show various ways in
which insurances may be effected : —
The life of a male or female between 24 and 25
years of age may be insured for £10 —
By an annual payment throughout life
of £0 4 4
By an annual payment to the age of 60
of 4 10
By a single payment of . . .490
A sum of money may be insured on the attain-
ment of the age of 55, 60, or 65 years, or sooner in
the event of death, by the payment of a single or
annual premium, and a sum of money may be
insured at the expiration of 10, 15, 20, 25, 30, 35,
or 40 years, or sooner in the event of death, by the
payment of a single premium according to the age
of the insured person.
Insurances for sums not exceeding £25 will be
granted without a medical examination, upon pro-
duction of satisfactory evidence as to health; but
in such cases, if the insurant should die before the
second premium becomes payable, the amount of
the first premium, and no more, will be paid to
his representatives ; and if he should die after the
payment of the second premium and before the
third premium becomes payable, half the amount
insured, and no more, will be paid to his repre-
sentatives. In either of these cases, however, if
it shall be proved to the satisfaction of the Post-
master-General that the death of the insured
person was caused by accident, the full amouni
insured will be paid. In any case, immediately
after the payment of the third premium, th't
insured person is entitled to the full benefi.t ol
insurance.
Persons proposing to insure for more than £211
must undergo a medical examination by a medica
practitioner appointed by the Postmaster- General
the cost of which is paid by the department
And persons proposing to insure for sums nc
exceeding £25 may undergo a medical examinas
tion, if they so desire, by payment of a fee of 2s. 6d
to the medical examiner. In all cases of insuranc*
granted after medical examination, the insurec
person is entitled to the full benefit of insurance
immediately the policy is granted.
No one life can be insured for less than £5, ana!
no insurance above £5 will be granted to persona
under 15 years of age.
If, after having paid not less than two annua
premiums, an insurant should be unable to continue
or should desire to discontinue the payments, sucl:
sum of money as the National Debt Commissioner-Jill
shall determine to be the surrender value will h:
returned.
Permission is granted to persons over 30 yean
of age, who have been insured 6 years, to reside ii
any part of the world free of any extra premium.
li
annuities, immediate and deferred
(old age pay).
Premiums, with examples.
The sums charged for the purchase of Imniediat*
Annuities or Deferred Annuities, sometimes calle(
Old Age Pay, vary with the age and sex of tht
person on whose life the Annuity is to depend
and in the case of Deferred Annuities with thu
number of years to pass before the commencemen
of the Annuity, and with the conditions of thi
contract as to the return or non- return of tb
purchase money.
The following are examples of the variou
classes of annuities and the cost: —
A male aged 65 can purchase an Im-
mediate Annuity of £1, payable
half-yearly, for . . . £9 13
A female aged 70 can purchase an Im-
mediate Annuity of £1, payable
half-yearly, for . . . 8 14
When the condition of a Deferred Annuity con
tract is that, in the event of the death of the perso:
on whose life the Annuity is to depend before th
commencementof the Annuity, the purchase mone;
is to be returned to his representatives ; and tha
if the purchaser at any time before the commence
ment of the Annuity wishes to discontinue th
purchase, the purchase money shall be returned :-
A female aged 24 may purchase a De-
feiTed Annuityof £l,to commence
on her reaching the age of 60, and
to be payable half-yearly, either
by an annual payment until she
reaches the age of 60 of . . £0 4'
Or by a single payment of . . 5 4 1;
When the condition of a Deferred Annuity
contract is that, in the event of the death of th
person on whose life the Annuity is to depend
before the commencement of the Annuity, thi
purchase money is to be returned to his represen-
tatives ; and that if the purchaser at any tim*
before the commeucement of the Annuity wishei
to discontinue the purchase, the purchase mone;
shall be returned : —
A male aged 24 may purchase a De-
ferred Annuity of £l,to commence
on his reaching the age of 54, and
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