Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1870-1871

Scottish Amicable Life Assurance Society.
T,
HIS OLD AND WEALTHY CORPORATION is founded on the Mutual prin-
ciple, according to which the Whole of the Profits belong to the Assured. As a
consequence of this, large Additions have been declared at the successive Investigations
which have been made into the Society's affairs; the rates of Bonus having ranged
from 14 to 2 per cent, per annum, calculated not only on the Original Sums Assured,
but also on the previous Bonus Additions. It likewise makes a Prospective {or inter-
mediate) Bonus Addition to participating Policies which become Claims during the
currency of a Septennium, thus securing to its members all the advantages of an Annual
Division of Profits without any of its disadvantages.
The last Investigation into the Society's affairs took place at 31st Dec, 1867, and
the following Table shows the Bonus Additions then actually declared on Policies of
^"1,000, and Policies for larger or smaller amounts being, of course, increased in pro-
portion.
BONUS ADDITIONS ACTUALLY DECLARED TO 1867.
Policy
opened
in
Year
,£1,000 Policy
increased to
Policy
opened
in
Year
£1,000 Policy
increased to
Policy
opened
in
Year
£1,000 Policy
increased to
Policy
opened
in
Year
;£i,ooo Policy
increased to
1827
£ s. d.
1,911 IO IO
1837
£ s. d.
1,634 IS
1847
£
i,37o
J. d.
IO IO
1857
£ s. d.
1,163 ° O
1828
1,885 6 8
1838
1,610 17 6
1848
1,348
17 6
1858
1,143 13 4
1829
1830
1,859 1 8
1,832 13 4
1839
1840
1,587 2 6
1849
1,327
1,305
2 6
9 2
1859
I860
1,124 6 8
1,105 °
1831
1,806 8 4
1841
Sjbhabs
^851
>1852
1,283
14 2
1861
1,090
1832
1,780 1 8
1842
"^ftifij^£
1,262
10
1862
1,075 °
1833
1,730
1843
1,475 IS 10
1853
1,240
6 8
1863
1,060
1834
1,706 5
1844
1,447 19 2
1854
1,221

1864
1,045 °
1835
1,682 8 4
1845
1,420 1 8
1855
1,201
13 4
1865
1,030
1836
1,658 11 8
1846
1,392 S
1856
1,182
6 8
1866
1,015 ° °
MINIMUM PREMIUMS.
THE SCOTTISH AMICABLE holds out a special attraction to the Public in its
popular system of "Minimum Premiums." This scheme was originated by the late
respected Manager of the Society, William Spens, and is undoubtedly the most
economical adaptation of Life Assurance yet devised. It was introduced in 1854, with
the sole object of giving to the provident classes the largest possible Assurance for
the smallest possible Premium, and to do this without having recourse to what is
called the "half-credit system," or other similar inventions, which frequently prove
the reverse of benefits to the Assurer. A popular exposition of the Minimum
Premium system is —
That a rate of Bonus Addition is assumed as that which will, at least, be realized
tn the future, so that a person just assuring gets the immediate benefit of this
prospective Additio7i by having it applied to the reduction of the Premium from the
opening of the Policy, instead of having to wait tmtil the successive periods of division
arrive, when Additions to the sum assured would be made.