LIFE DEPARTMENT.
The Accumulated Premiums are over £1,600,000. And the Annual Income exceeds £184,000.
Bonuses have been declared on Policies to an amount greater than the sum originally assured.
Premiums have been extinguished, where the parties assured have applied the bonus in reduction to the Annual Premium.
At the last valuation up to Christmas, 1854, there existed a Surplus of £268,691, which had accrued during the five years ending at that period—the whole of which Surplus belonging to the policy holders.
The next valuation will be made up to Christmas, 1859. Policies on the Participating Scale, in England or Ireland respectively, which may be effected before that date, will, if the parties be then alive, participate in the surplus in proportion to the time they may have been in force.
The sum of £3,130,975 has been paid during the existence of the Office for claims under Life Policies, of which amount a very considerable part was for Bonuses.
Persons assuring in Great Britain have the option of
Participating Rates of Premium, or of
Non-Participating Rates.
The Directors beg to announce that the rates of Premium have been recently revised and re-adjusted in accordance with a long experience, and that