Bourne's Handy Assurance Manual, 1891. By William Schooling. (Trafalgar Buildings.)—It
is needless to enlarge on the usefulness of this manual, drawn up, as it is, from official returns. In estimating the comparative merits of assurance societies, three things, it may be said, have to be compared,—the cost of manage- ment, the amount of accumulated funds, the rates of premiums. Taking the first (actual cost per cent. on life premium income), we find the following offices stand at the head of the list :— T ondou Life Association ... 418 Refuge (ordinary)... 995
'Clergy Mutual ... Livin pool and London and Globe Met, opolitan 701 Nortt ern ... 10•0 Rau table 7•15 Prudential (urdivary) Friencia' Provident ,.. 810
More than half of the ninety-eix offices of which particulars are given satisfy the condition of safety that the accumulated funds :should equal or exceed a third of the assurances in force. (Excep- tion must be made in the case of new offices, where, presumably, the policies have a long expectation, and the time for accumula- tion has been short.) The rates differ very much. Taking the .age of twenty-five, we find the Abstainers and General, with
▪ 16s. 2d. for 4100, as the lowest, and the London Life Associa- tion, with 42 13s. 6d., as the highest. It should be explained that the London Life adopts the system of reducing the premiums. -" Premiums in the 5th series, issued since 30th June, 1886, have been reduced by 61 per cent. in those cases where seven years' premiums have been paid."
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