Expensive Systems of Life Assurance. 123 



sally acknowledged to be unfit for the purposes of Life Assur- 

 ance, the Government Annuity Tables may be safely taken as a 

 guide, these having been very recently constructed, with the ut- 

 most care, and from the best data. Besides, as they have been 

 deduced from the rate of mortality found to prevail for a long 

 period among the State Annuitants, they will represent the mor- 

 tality likely to occur among a select class of Life Assurers more 

 accurately than any tables calculated from that of the communi- 

 ty at large. These tables, too, must very speedily become the 

 standard for all calculations connected with life contingencies in 

 Britain ; and should it be alleged that they represent human 

 life as of too short duration, they must still on that account be 

 held the safer for Life Assurance. 



The two Tables of Premiums annexed have been calculated 

 by an eminent actuary from the Government Annuity Tables, 

 10 per cent, having been added to the one for males, and 15 to 

 that for females, as an additional guarantee, and for defraying 

 the expenses of management. These tables we would with per- 

 fect confidence recommend to any new Life Assurance associa- 

 tion, to be conducted with ordinary prudence and economy; but 

 this being the lowest rate of premium, consistent with security 

 to the assured, the public should by no means be led to expect 

 large returns in the shape of bonuses ; while at the same time, 

 should a surplus capital eventually arise, as there may be reason 

 to expect, from the addition which has been made to the requi- 

 site premiums, it should be apportioned periodically among the 

 members on whose contributions it has arisen, — and among them 

 alone. In this way no entrant would be told, that his represen- 

 tatives would in the first place be entitled to a certain sum should 

 he die before the first period of investigation subsequent to his 

 entry, and, in all probabihty, to an additional sum should he 

 survive to another period, and to a still farther sum should 

 he live to a third period, &c., while it is impossible to specify 

 the amount of such additions, as they are, in truth, extremely 

 contingent, and very distant at the best. But every one would 

 here at once be told the utmost sum which he could reasonably 

 expect for his premium, whether he died sooner or later ; at 

 the same time, should he live long, and a surplus be found to 

 have actually arisen from his premiums and those of others of 



