L I F E-A S S 
mitting the greater mortality of males. In the diftrift of 
Vaud, in Swifferland, it appears, that half the females do 
not die till the age of forty-fix and upwards, though half 
the males die under thirty-fix. It is likewife an indifpu- 
table fa 61 , that, in the beginning of life, the rate of mor¬ 
tality among males is much greater than among females. 
From a table formed by Dr. Price, from a regifter kept 
for twenty years at Gainfborough, it appears, that of rhofe 
who live to eighty, the major part, in the proportion of 49 
to 32, are females. M. Des Parcieux at Paris, and Mr. 
Wargentin in Sweden, have further obferved, that not 
only women live longer than men, but that married wo¬ 
men live longer than fingle women. From fome regifters 
examined by Mr. Muret in Swilferland, it appears, that 
of equal numbers of fingle and married women between 
fifteen and twenty-five, more of the former died than of 
the latter, in the proportion of 2 to 1. 
The authorities for the faffs here mentioned, and much 
more on this fubject, may be found in the fecond volume 
of Dr. Price’s Treatil'e on Reverfionary Payments, feventh 
edition. 
LIFE-ASSU'RANCE, a tranfaflion whereby a Aim of 
money is fecured to be paid upon the death of the perfon 
whofe life is allured, or upon the failure of one out of two 
or more joint-lives. Under the article Assurance, vol.ii. 
p. 293, 4, we gave a lift of the offices for this purpofe in 
London, with fome account of their modes of tranfaffing 
bufinefs, not in refpefl to life-affurances only, but alfo to 
indemnify perfons againft Ioffes from fire. Since that ar¬ 
ticle was publifiied, we have met with a pamphlet put 
forth by the Rock Life-Affurance Company, an eftablilh- 
ment not then in exiftence ; and, as we think we cannot too 
much recommend the principle of life-affurance, whether 
for the affiltance of a family upon the death of the prin¬ 
cipal, or for fingle perfons in the way of annuity to com¬ 
mence at a certain age, we (hall ftate a few particulars from 
that pamphlet, as far as it relates to life-affurance; and 
Ihall infert alfo the Tables, as they feejn more favourable 
to the public than that already given in our fecond volume. 
It is not an unufual thing to hear it obferved by the 
molt careful and prudent men, that they can lay out the 
premiums which would be required for an affurance to 
better account than any fociety can do for them, and that 
economy is the belt affurance. This would be an indu¬ 
bitable truth, if care could fecure to the man who huf- 
bands his money time to improve it. No man would in- 
fure his houfe againft fire, if prudence could guard him 
againft an accident; and yet, whatever the chance may be 
againft any one houfe being burnt down, no thinking man 
would remain uninfured at the prcfent low rates. The 
fatal cafualties to which the life of man is fubjeft, one 
would imagine, (hould difpofe us all to make a provident 
ufe of the means which a life-fociety holds out for the 
benefit of thofe who are dear to us; and yet, in all the 
united kingdom, there are not perhaps 30,000 perfons af- 
fured againft the confequences to their pofterity of their 
own premature death. Whenever a conflagration hap¬ 
pens, it is the ufual and benevolent inquiry of every per¬ 
fon, “if the fufferers are infured.” We truft the time is 
not diftant, when, on the early and premature death of the 
father of a family, the fame confiderate hope will be ex- 
preffed that he has feafonably provided by inlurance for 
his heir. 
It will be obvious to every man who takes the trouble to 
calculate, that no pecuniary lofs can occur to the family 
of a perfon of middle age, who (hall have paid the premium 
of affurance for twenty years. It is only when the life 
endures beyond that period, that, by the operation of com¬ 
pound intereft, he begins to lofe by the tranfaftion. This 
requires, however, that he (hould have uniformly and regu¬ 
larly laid out the whole fum with its accumulations at in¬ 
tereft; that there (hould not have been a fingle lapfe, nor 
a fingle lofs; and that there (hould have been no commif- 
fion, and no tax upon the (lock to pay. If it be an act 
of prudence in a hufband and parent to live within his 
U RANGE. 631 
income, that he may lay up a provifion for the objects of 
his tendernefs, it is clearly prudent to make an affurance on 
the term of his life, becaufe he thereby afcertains his pur¬ 
pofe by the fafell and the fpeedieft means. An affurance 
for life is of the fame nature as an annual (living, for it 
is laying up a fum for hereafter; with this molt cheering 
difference, how’ever, that the one mode requires many 
years to accomplifh the end, whereas the other fecures it 
from the firft day after the policy is iffued. If the event 
(hould happen in the firft year of the affurance, the heir 
of the perfon, his family, or his affigns, would receive the 
principal fum which he has affured. This advantage he 
would obtain in thofe focieties, where, on the extinction of 
a policy, the proprietors undertake to pay the precife fum 
affured, but in which the profits accruing from the bu¬ 
finefs, if any, are divided among themfelves. In a fociety 
instituted like the'Rock Life-Company, the advantage 
would be materially improved; for, by the principles of 
their affociation, no length of time, no repetition of pay¬ 
ments, can ever create a lofs to a young infurer. In this 
company the aggregate profits of the concern are divided 
at intervals among all the perfons affured for life, fo that 
the addition to the actual fum in his policy, will always 
be in proportion to the time he has been on the books, 
and to the number of payments he has made. 
The principle of life-affurance holds out, to all perfons 
of limited income, the obvious means of fecuring to their 
affigns a fum which otherwife, by the great but unavoid- 
ble increafe in the price of every-article of expenditure, it 
might be very inconvenient, and even impracticable, by 
any poftible retrenchment, to lay up. It will be admit¬ 
ted, that 1500I. a-year at this time, cannot fecure to a fa¬ 
mily the fame eftablifhment as ioool. afforded fome years 
ago. A provident perfon, therefore, who in the former 
cafe was able to fave 500I. a-year, cannot now do this 
without abridging many of the comforts to which the fa¬ 
mily have been accuftomed ; or, what is more important, 
withholding from his children the education which a pa¬ 
rent is naturally anxious to give them. By laying out, 
however, probably no more than iool. a-year in a life-af- 
furance, he may add 400I. to his annual expenditure, and 
yet accomplifh the object of fecuring a provifion of two 
or three thoufand pounds for his family. If the policy 
(hould continue for years, there is every profpeft of an 
accumulation that would make the a6t a meafure of eco¬ 
nomy, as well as of prefervation, fince in no other way 
could the fame fum, without a ri(k, be laid out to the fame 
advantage. 
But, in all cafes of affurance on life, the folidity of the 
office is the firft thing to be regarded. When a young man 
in the vigour of health commences an affurance, he may 
flatter himfelf with the enjoyment of life for many years j. 
and it is merely the confideration of the fatality to which 
we are all fubject, that induces him to provide againft the 
untimely event. The terms are calculated on the expec¬ 
tation of this durability; and a provident office has to lay 
lip, with the molt (crapulous care, the premiums received, 
to conftitute and create the capital which iscertainly to be 
called for hereafter. A fociety that (hould confider thefe 
depofits as profits, and proceed to make dividends there¬ 
on, mult, in procefs of time, and that at no very dif¬ 
tant period, come to ruin. To confider this as a mer¬ 
cantile concern ; to calculate prof l and lofs on fingle tranf- 
attions ; to talk of good years and bad years; and t‘o be 
lavifh becaufe a feafon has been favourable; would be the 
height of felf-deception, and would lead to difappoint- 
ment. A life-fociety that (hould raffily proceed to divide 
among its members the oftenfihle profits, accruing from 
the cafual circumltance of the demands upon its fund not 
being equal to the table of expectations for the firft. 
few years of its eftabliihment, would be totally unmind¬ 
ful of the obligations into which it had entered. TJiie 
appearance may be very delufive, and may arife from va¬ 
rious caufes. In what a situation muff a perfon be, who 
by annual payments for many years, contributed to a fund" 
that a . 
