Lectures on the Science of Life Insurance

Lectures on the Science of Life Insurance

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 edition. Excerpt: ...last, he finally comes out, and dies a poor, old, ruined, swindled man! Now, I hold that no system or usage in Life Insurance that involves such final results, is a good one for a single day. Some persons think there is a wicked purpose and intent in the outset--a conspiracy to defraud when these Companies go into operation; but I think not. The zeal of the benevolent minded men in these Companies is not according to knowledge: that is the difficulty. Anonymous opinion.--" We submit that those Assurance Companies which have agreed to receive, during life, onehalf of the premium in notes, and which hold out inducements of large annual dividends, have put themselves within the clutches of the law, and are indictable for intent to defraud by false pretences; the res gesta needs no argument to be established. We predict that the day will come when the merits of the right and wrong systems will be put to the proof, legally." It may be so. "Hence, J think any one will concede that the cash-paying members of the Institution" may suffer, and will wish to sell out, and make their exit from it at their earliest convenience. Careful people do not like to be near danger. High-minded, honorable, cash-paying members will never desire to thrive upon the ruin of their fellow credit subscribers, or be found aiding and abetting a system so utterly devoid of Life Insurance science, common sense or sound principles; and which might, in the opinion of any person, render them liable to indictment by a Giand Jury. Can the notes bt collected?--The tacit understanding is, the notes are never to be collected; or, this may be the verbal understanding and agreement with agents. If the insured members become disgusted with these Companies, as many do, and...show more

Product details

  • Paperback | 80 pages
  • 189 x 246 x 4mm | 159g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236511980
  • 9781236511980