LONDON ASSURANCE CORPORATION --LONDON LIFE, &e. 1115
LONDON ASSURANCE CORPORATION.
Mixed Company. Established a.p. 1721. 19, Birchin-lane.
Participating and non-participating rates.
The outline of the new plan adopted by the London Assurance Cor-
poration is,
That the premiums to be received annually from persons assuring
shall be accumulated for the payment, in the first instance, of the losses
which may be incurred, and of certain specified extraordinary expenses.
That at the expiration of the year 1836, and of every subsequent year,
an account and valuation of all engagements shall be made according to
certain defined principles.
That a sufficient portion of the accumulated fund shall be set apart to
answer all such engagements.
That one-fifth of the surplus shall be appropriated as follows: viz.,
two-thirds to the assured who shall have paid full five years’ premiums,
to be allowed in abatement of their premiums for the next year, and the
remaining third to the corporation ; the other four-fifths of the surplus
to fall into, and form part of, the fund for the next year’s valuation.
That the sufficiency of the accumulating fund for the full payment of
all losses shall be guaranteed by the corporation.
That the ordinary expense of conducting the business at their prin-
: cipal office shall be borne by the corporation.
sep
be eu LONDON LIFE ASSOCIATION.
ig) > Established a.v. 1806. 81, King William-street.
Is formed on the principle of mutual insurance, the profits being
applied to the reduction of the annual premiums after seven payments.
i Separate scale for non-members.
al All premiums become due annually on the 1st of July.
lip"
! MEDICAL AND INVALID.
Mixed Company. Established a. p. 1841. 25, Pall Mall.
This Society has for a main object the assurance of lives affected by
disease, on equitable premiums commensurate with the particular risk ;
whilst in addition it offers the benefits proposed by other offices in as-
suring on the usual rates ordinary or sound lives.
At this office, if restoration to permanent health be proved to the satis-
faction of the board, and should render a recurrence to the ordinary rate
of premium consistent with safety, the demand for extra premium will
be discontinued.
The society will grant loans upon the conditions annexed. It will
grant annuities, either immediate or deferred, and purchase reversionary
interests.
Assurances are effected for any sum not exceeding £5000. The age