THE RESULTS OF BUSINESS EFFECTED IN 1853 ARE:—
| 1. | Number of proposals accepted | 716 |
| 2. | Amount of new assurances exclusive of annuities | £309,393 0 0 |
| —————— | ||
| 3. | Amount of annual premiums on new assurances | £8,038 12 5 |
| 4. | Amount of single payments on ditto | 10,729 2 8 |
| —————— | ||
| ———— New premiums received during the year | £18,767 15 1 | |
| —————— | ||
| 5. | Amount of claims by death during the year | £23,526 5 0 |
| —————— | ||
| 6. | Addition to realised fund, arising entirely from accumulated premiums during the year | £50,459 0 0 |
| —————— |
BIENNIAL PROGRESS OF BUSINESS DURING THE LAST TEN YEARS.
| In Years. | Number of New Policies. | Amount of New Assurances | Accumulated Fund at End of Period. |
| £ | £ | ||
| 1844-45 | 658 | 281,082 | 69,009 |
| 1846-47 | 888 | 404,734 | 95,705 |
| 1848-49 | 907 | 410,933 | 131,406 |
| 1850-51 | 1378 | 535,137 | 207,803 |
| 1852-53 | 1269 | 587,118 | 305,134 |
MUTUAL LIFE ASSURANCE.
THE SCOTTISH PROVIDENT INSTITUTION combines the advantage of Participation in the whole Profits with moderate Premiums.
The premiums are as low as those of the non-participating scale of the proprietary companies. They admit of being so not only with safety, but with ample reversion of profits to the policy-holders, being free from the burden of payment of dividend to shareholders.
At the first division of surplus in the present year, bonus additions were made to policies which had come within the participating class, varying from 20 to 54 per cent. on their amount.
In all points of practice—as in the provision for the indefeasibility of policies, facility of licence 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 principle.
Policies now issued free of stamp duty.