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

DUBIiLN" OFFICE-16 COLLEGE GREEN.
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Division of Surplus.
The System on which the Profits are divided is pecuhar to this Society
and is specially fitted for dealing with a surplus arising from moderate
Premiums.
The Assurance itself having been provided to all the Members at the
lowest rates which are perfectly safe, the system takes up their interest in the
Surplus at the point when they become really contributors to the Profits, and
thus gives a legitimate advantage to those who have mainly created the Fund
by which the Assurances on the early deceasing Members, as well as their
own, are made good. T/ie Surplus is reserved entire for those Members whose
Premiums, with accumulated iftterest at four per cent, atnount to the sums
in their Policies. This principle, while avoiding the anomaly of giving
additions to those Pohcies which become claims in their earlier years, yet
secures a share of the profits to every Member, who has not, from the sum
realized by his heirs exceeding what he has lived to pay, been a gainer by the
original transaction.
A Surplus thus divided among a comparatively limited number (though
that will comprise a full half of all the Members) must obviously afford
larger additions to those Policies which share in it, than when distributed
among all indiscriminately, according to the usual systems. The practical
working has been that Policies originally for^iooo, which have come within
the participating class, have been increased to ;£i300, ;^i5oo, and in some
instances to upwards of ;^ 1700.
TABLE SHOWING THE PREMIUM payable yearly during Life
For Assiirance of £100 at Death. 'With Profits.
Age.
Premium.
Age.
Premium.
Age.
Premium.
22
^I 16 9
35
£2 6 10
48
^3 14 8
23
I 17 2
36
282
49
3 18 I
24
I 17 7
37
298
60
4 I 7
25
I 18
38
2 II 3
51
4 5 6
26
I 18 6
39
2 12 II
52
4 9 5
27
I 19 2
40
2 14 9
63
4 13 5
28
I 19 II
41
2 16 8
54
4 17 8
29
208
42
2 18 8
66
5 I II
30
2 I 6
43
3 II
66
564
31
226
44
3 3 3
57
5 10 II
32
2 3 S
45
3 5 9
58
5 15 9
S3
246
46
3 8 5
59
610
34
2 5 7
47
3 II 5
60
667
The Premium for ;r^iooo in the other Scottish Mutual Offices (which give the whole
Profits) is, at age 30, £2.ij WJ-.ii, which in this Institution would secure a Policy
of;^i2So from the first. The Premium in this Office for;^iooo is only ;,^20 : 15s.,
which in them would secure not more than ;i^8oo.
The Premiums, moreover, are as low as by the non-participating Rates of the
Proprietary Companies, so that persons who assure with them by that scale
virtually throw away the prospect of additions from the profits without any compensa-
ting advantage.
^ A Table showing the Premiums in all the Assurance Offices in the Kingdom will
be found in the "Post Magazine Almanac," " Letts's Diary," &c.
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GLASGOW OFFICE-e? ST VINCENT STREET.