A Comparative View of the Various Institutions for the Assurance of Lives |
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Common terms and phrases
31st of December accumulate added to policies addition Albion Alliance allow Amicable amongst the assured amount ampton annual divisions annual payments annual premiums annuity arising assurance companies assurances existing Atlas average bonus British Commercial calculated Carlisle contract declared deduced directors divided amongst dividing the profits division of profits entitled equal Equi Equitable experience Equitable Society European five per cent five thousand fund Guardian Imperial interest of money intervals lives living twenty-five London Assurance London Life Association London Life Assurance Medico-Clerical mortality amongst mutual assurance nearly niary nominal Northampton tables Norwich Union number of deaths number of persons one-half paid Palladium participate Pelican person assured portion proportion proprietors rate of interest rate of mortality rate of premium receive reduced render respective risk Rock Royal Exchange share subscribed capital sum assured supposing surplus tables of limited thereof three per cent tion two-thirds United Empire whilst whole term
Popular passages
Page 95 - It is clear that a creditor has an insurable interest in the life of his debtor...
Page xv - Nothing is more proverbially uncertain than the duration of human life, where the maxim is applied to an individual ; yet there are few things less subject to fluctuation than the average duration of a multitude of individuals.
Page 101 - Pitt, were wholly obviated and prevented by the payment of his debt to them, the foundation of any action on their part, on the ground of such insurance, fails. And it is no objection to this answer, that the fund out of which their debt was paid did not (as was the case in the present instance) originally belong to the executors, as a part of the assets of the deceased ; for though it were derived to them aliunde, the debt of the testator was equally satisfied by them thereout ; and the damnification...
Page 101 - ' brought. It is repugnant upon a contract for " ' indemnity, to recover as for a total loss when " ' the event has decided that the damnification in " ' truth is an average, or perhaps no loss at all ; " ' whatever undoes the damnification in the whole " ' or in part, must operate upon the indemnity in " ' the same degree ; it is a contradiction in terms, " ' to bring an action for indemnity, where, upon the " ' whole event, no damage has been sustained.
Page 101 - The plaintiff's demand is for an indemnity ; " his action, then, must be founded upon the nature of the " damnification, as it really is at the time the action is " brought. It is repugnant, upon a contract for indemnity, " to recover as for a total loss, when the event has decided " that the damnification in truth is an average, or, perhaps,
Page 96 - ... no insurance shall be made by any person or persons, bodies politick or corporate, on the life or lives of any person or persons, or on any other event or events whatsoever, wherein the person or persons for whose use, benefit, or on whose account such policy or policies shall be made, shall have no interest, or by way of gaming or wagering; and that every assurance made, contrary to the true intent and meaning hereof, shall be null and void, to all intents and purposes whatsoever.
Page 99 - Lawrence, J. I suppose the court proceeded upon the ground that the penalty was, by the express stipulation of the parties, made an equivalent for the loss of the service. — Lord Ellenborough. That is so as between the parties themselves; but it may admit of doubt, whether that were the fair way of considering it as against a stranger, a wrongdoer...
Page 98 - ... it might have been very far from an adequate compensation to the master for the injury done to him by another who seduced his servant from him.
Page xxii - ... in one of its simplest forms, may be illustrated by supposing it to consist of one thousand persons, each aged twenty and in good health, and with such certificates of a good constitution as the Equitable Society would admit. Each individual should pay 1/.
Page 93 - ... was agreed that, in case Mr. Pitt should happen to die at any time within one year, &c. the funds of the company should be liable to pay and make good to the plaintiffs, their executors, &c., within three months after his demise should have been duly certified to the trustees, &c. the sum of 5001.