The assurance of diseased and doubtful lives on a new principle, more advantageous and equitable to policy-holders than the system hitherto adopted / by Morrice A. Black ; with observations on the characteristics of assurable and non-assurable lives, by A.P. Stewart.

  • Black, Morrice A.
Date:
1862
Catalogue details

Licence: Public Domain Mark

Credit: The assurance of diseased and doubtful lives on a new principle, more advantageous and equitable to policy-holders than the system hitherto adopted / by Morrice A. Black ; with observations on the characteristics of assurable and non-assurable lives, by A.P. Stewart. Source: Wellcome Collection.

Provider: This material has been provided by The Royal College of Surgeons of England. The original may be consulted at The Royal College of Surgeons of England.

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    ,i:‘ ■ The Advantaoes op the New STsirBM op Assubing ©iseased AND Doubtful Lives, contrasted with the Method HITHERTO ADOPTED, ri Preparatory to detailing the Special advantages to Policy-holders, it may be well to observe that the New Scheme will have an important bearing with, reference to the Extension of Life Assurance. It has been justiy-observed, by Mr. Scratchley, “the number of Assurable Lives is greatly contracted, and many persons who in the long run do not die before their time, are debarred , from the benefits of Life t, Assurance. We urge therefore that the field of Assurance iv should no longer be limited; that inasmuch as Life Assui’ance is merely the result of judicious money measurement of the contingencies of human existence, the system may safely be extended. ... If this were done, we should cease to meet with aged persons who tell us of their having been declined by such an Office when young.” The Scheme we I have been illustrating will in an especial manner meet such cases as are here alluded to. Those who take out Policies at an increased rate of f ' premium have generally great confidence in their own lives; they believe, notwithstanding their tendency to some disease, that the ' precautions they adopt, and the regular lives they lead, will go far not only to delay the development of active disease, but procure for them the enjoyment of a “green old age.” Those, therefore, who are liable for Extra Premiums under the New Scheme are offered a Premium for leading careful sober lives. The endeavour to prolong life, however, is just taken at what it is worth. This, notwithstanding, is a fact of importance to those who have to pay an extra price for their Assurance, on account not of any organic disease, but solely 0 2