Towns > Aberdeen > 1848-1854 - Post-office directory > 1851-1852

The Northern Assurance Company.
more influential. Though our countrymen are noted for prudence and forethought,
generally speaking, they have shown less of these qualities in regard to Life As-
surance than might have been expected. How many instances may we see around
us, of widows, and children, and other relatives of deceased individuals being left in
straitened circumstances, which might have been greatly alleviated by a moderate
degree of economy and prudence in their natural protectors ! How many men in
the middle ranks of society enjoy such incomes as would, with a little self-denial,
enable them to provide against a contingency which may sadly affect their depen-
dents ! How many young men in the prime of life, and vigour of health and
strength, are earning, by the labour of their hands, liberal wages which are too
often wholly and needlessly spent, but which would enable them to insure An-
nuities for old age, or sums payable at the age at which bodily strength may be
expected to fail, or at which a young family is likely to be most burdensome ; yet
how few of either of these classes have recourse to this expedient ! Perhaps not
one in ten of the former class, and not one in five hundred of the latter. Indepen-
dent of the uncertainty of human life's duration, the method of Life Assurance
has one great advantage over that of attempting to accumulate small annual
savings. He who has assured his life, ceases to consider the Annual Premium as
part of an income at his disposal. He regards it as beyond his reach, and endea-
vours to aecommodate his expenditure to the remainder ; while he who attempts
to accumulate small annual savings, is often at a loss for investments sufficiently
productive and secure ; and, by temporary difficulties which might be otherwise
overcome, or by fancied wants, he is sometimes induced to withhold the annual
addition, or even to encroach^ upon the stock. When we take into account the
uncertainty of human life, the contrast between these two methods of providing
for the future, becomes far more striking. These considerations are deeply in-
teresting to us, and to the public. It is, therefore, extremely desirable that we
should all do what we can to lead others to view them in the same light.
I have only again to congratulate you on the state and prospects of our Institu-
tion, and to move the Kesolutions.
Those referring to the Bonus on the Participation Policies, are
as follow : —
I —That on current Participation Policies for Assurances effected
on or before 30th April, 1S46, and which obtained Vested Ad-
ditions at that time, there shall, for the quinquennial period ended
30th April, 1851, be farther Vested Additions at the rate
of One Pound Seven Shillings and Sixpence per Cent,
per Annum, on the Sums contained therein ; and, also, if said former
Vested Additions have not been commuted or surrendered, One
Pound Seven Shillings and Sixpence per Cent per Annum on the same.