Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1865-1866

SCOTTISH AMICABLE SOCIETY'S MUSTIMUM PREMIUMS.
of trouble saved, in many cases this will be found a great pecuniary gain. Many
of the principal Life Assurance Offices take premiums by quarterly payments,
and unquestionably their rates are less than those of the Government; and
while in the case of persons wishing to transact very sriiall Assurances I have
shown how desirable it is for them to be able to propose to Government for
their lowest amount, £20, I would now urge the important advantage which
will be obtained by those who feel themselves able to take out somewhat larger
Assurances, to make their proposals to a well-established Office for the lowest
sum it will accept, by Quarterly Payments. The foregoing remarks, as you
will have seen, have been entirely general in their character. I now propose
to contrast specially the Quarterly rates of our Minimum System with those of
the Government. And for this purpose I submit two tables, the first, of
Premiums payable during the whole period of life, and the second, of Premiums
ceasing after age 60. The Table of Premiums payable during life, gives, —
First, The Monthly Premium which the Government would charge for £100.
These are calculated from the Government Table 5, which shows what would
be assured by the Government for a Monthly Premium of Two Shillings.
Second, The Quarterly Premium which this Society would charge for £100,
payable immediately on death. And Third, The sums which would be assured
by the Scottish Amicable for three times the Monthly Premium charged by
the Government for £100. To state the result of the contrast in this Table,
in a moderate and simple way, it may_be said that the sums assured by the
Scottish Amicable are in all cq^e^Pte^l^he-third more than by the Government.
The Table of Premiums ceasin^v;alft^TI^Q,lg^7^s, — First, The Monthly Premium
which the Government would cii/^rge .fojft'^lOO. These are calculated from
the Government Table 7, whicir^"^trwrs what would be assured by the
Government for a Monthly Premium of Two Shillings. Second, The Quarterly
Premium which this Society would charge for £100, payable immediately
on death. It may be here noted that the number of Quarterly Premiums
will be regulated by the corresponding number of Annual Payments; and
in some cases there may be fewer Quarterly Payments than the correspond-
ing Monthly Premiums under the Government Table; but this cannot
affect the contrast to an extent of any consequence. Third, The sums which
would be assured by the Scottish Amicable for three times the Monthly
Premium charged by the Government for £100. The contrast of this Table
is even more favourable for the Scottish Amicable; the additional stims
assured by it being from nwre than a third to as much as a half. But I must
remind you of the grounds and principles on which the Minimum Premiums of
this Society, which have been thus contrasted with the Government rates, were
framed. The general reason for endeavouring to fix as low a Premium as possible
was because it was thought the full benefits of the system of Life Assurance were
thus best secured. This is undoubtedly the case as regards the great body of
persons possessing life incomes, who so regulate their affairs as to fix upon the
annual sum they are able to devote to Life Assurance, and who naturally desire
to have at once as much assured by it as they can. Formerly this could only be
effected through the non-profit rates of Offices; and, looking to the comparatively
small difference which these rates bore to the profit rates, it was thought prudent
rather to forego the advantage of having an additional sum assured, than to