Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1853-1854

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ADVERTISEMENTS.
MUTUAL ASSURANCE BY MODERATE PREMIUMS.
SCOTTISH PROVIDENT INSTITUTION,
FOR LIFE ASSURANCE AND ANNUITIES.
Incorporated by Act of Parliament.
TRUSTEES.
The Right Hon. William Johnston, of Kirkhill.
Charles Cowan, Esq., M.P.
John Masterjian, Junior, Esq.,
Banker, London.
William Campbell, Esq. of Tilli-
chewan.
James Peddie, Esq., W.S.
GLASGOW BOARD OF DIRECTORS.
Wm. Jas. Davidson, Esq., Merchant.
John Innes Wright, Esq., Merchant.
Anderson Kirkwood, Esq., Writer.
William West Watson, Esq., Merchant.
Jas. A. Campbell, Esq., yr. of Stracathro.
George Readman, Esq., Banker.
Medical Officer — Dr. John J. Fleming, 12 Abercromby Place.
npHE SCOTTISH PKOVIDENT INSTITUTION is the only Office which com-
.1. bines the advantage of participation in the Whole Profits, with moderate Pre-
miums. It is a Mutual Assurance Society, in which the Whole Profits belong to the
Policy-holders ; and it is free from the objection of excessive premiums, which is
urged by the Proprietary Companies against other Mutual Societies.
The Premiums are as low as those of the non-participating scale of the Proprietary
Companies. The} - admit of being so not only with safety, but with ample reversion
of Profits to the Policy-holders — being free from the burden of payment of dividends
to Shareholders.
The principle on which the profits are divided is at once safe, equitable, and favour-
able to good lives — the Surplus being reserved for those members who alone can have
made surplus payments ; in other words, for those whose Premiums, with Accumu-
lated Interest, amount to the sums in their Policies.
This principle, while it on the one hand avoids the anomaly of giving additions to
those Policies which become claims in their earlier years, secures on the other hand
that there is no Member who has not been, in a pecuniary sense, a gainer by the
transaction, who does not receive a share of the Profits.
On this principle bonuses as high as 54 per cent, were added to some of the older
policies on the first division of profits declared at last annual meeting, detailed re-
ports of which may be had on application.
SPECIMEN OF TABLES.
Annual Premium for Assurance of £100 at Death.
Age.
Premium.
Age.
Premium.
Age.
Premium.
Age.
Premium.
20
£1 18 6
32
£2 3 5
38
£2 11 3
44
£3 3 3
27
1 19 2
33
2 4 6
39
2 12 11
45
3 5 9
2S
1 19 11
34
2 5 7
40
2 14 9
46
3 8 5
29
2 8
35
2 6 10
41
2 16 8
47
3 11 5
30
2 16
36
2 8 2
42
2 18 9
48
3 14 8
31
2 2 6
37
2 9 8
43
3 11
49
3 18 1
It -will be seen on comparison that the same premium which, at age 30, for
example, is charged in the other Scottish Mutual Offices for Assurance of £1,000, will
secure, in this Society, a Policy for £1,230. And it is to be borne in mind that the
higher immediate Assurance in this Office does not involve the sacrifice of the mem-
ber's interest in the profits, or any portion of it.
This advantageous comparison holds good, to nearly the same extent, with the
participating scale of the Proprietary Companies.
Forms of Proposal, Copies of the Annual Reports, and every information may be had
on application at the
Office in Glasgow— No. 67 ST. VINCENT STREET.
Wm. CHURCH, Jun., Secretary.