Towns > Greenock > 1847-1912 - Post-office Greenock directory > 1857-1858

ADVERTISEMENTS.
MUTUAL LIFE ASSURANCE.
SCOTTISH PROVIDENT INSTITUTION,
14, ST ANDREW SQUARE, EDINBURGH.
The only Office which combines the Benefit of Participation in the
WHOLE PROFITS WITH MODERATE PREMIUMS.
The Premiums,, at early and middle ages, are about a fourth lower
than in the other Mutual or Participating Offices. They are about
as low as the Non- Participating Rates of the Proprietary Companies
— which they admit of being, not only with safety, but with ample
reversion of Profits to the Policy-holders, being free from the burden
of Dividends to Shareholders.
Examples of Annual Premium, to Assure £100 at Death.
Age 25 | ~30 | 35 | 40 | 45 | 50
£1 18 J £2 1 6 1 £2 6 10 | £2 14 9 ] £3 5 9 \ £4 1 7
Thus a person of thirty may secure £1000 at death for a yearly
payment of £20 15s., which, if paid to any of the other Mutual
Offices, would secure a Policy for £800 only, instead of £1000.
The arrangement by which the Premiums are reduced to a rate
commensurate with the risk, is obviously more suited for securing a
competent family provision, in case of early death, than that which,
by the same yearly outlay, secures a much smaller present sum,
with the hope only of prospective and contingent additions.
PROFITS.
The principle on which the Profits are divided is at once safe,
equitable, and favourable 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 accumulated Interest,
amount to the sums in their Policies.
The practical working of the system has been that, at the First
Division of Surplus, Bonus Additions were made to the Policies which
had come within the Participating Class,
varying from 20 to 54 per cent, on their amount.
Li all points of practice — as in provision for the indefeasibility of
Policies, facility of license for travelling or residence abroad, and of
obtaining advances on the value of the Policies — the regulations of
the Society, as well as the administration, are as liberal as is consistent
with right principles.
Reports, explanatory of the principles, loith every information, may
be had on application at the Head Office, or any of the Agencies.
JAMES WATSON, Manager.
Edinburgh, May, 1857.
AGENTS.
Greenock ARCHIBALD DENNISTON, Writer.
ARTHUR O. LEITCH, Commission Agent.
Campbeltown J. Buchanan, Chemist.
Dumbarton John Robson, Commercial Bank.
Inverary Scipio Mactaggart, Sheriff Clerk.
Paisley Archibald Hodge, City of Glasgow Bank.
Port-Glasgow M. L. Inglis, Writer.
Rothesay Daniel Macbeth, Sheriff Clerk.
I 2