A FAMILY CHARTER.
Tile Scottish Widows' Fund and Life Assurance Society has devised an interesting scheme which it describes as the Family Charter. Under this scheme it is possible for. a married man to make provision for the event of his death and also for some portion of the cost of the education of his children, when they reach the years when education becomes expensive. Taking, for example, the age of thirty-five, it is possible for an individual by paying twenty-six annual premiums of £45 10s. to secure the following return : In the event of his death, a capital sum of £1,000 is payable, while assuming the more probable event of survival, the end of the thirteenth year from entry marks the commencement of a period of five annual payments of £100 per annum, which covers that part of the scheme applicable to the education of the children, this amount being payable each year whether the insured is living or not. Alternatively, a sum of £467 will be paid at the end of the thirteenth year. Should the assured die before the date on which the first payment of £100 becomes due an annuity of £50 a year is payable from his death until the date on which the first annuity would have become payable, if he had been living. Again, assuming that the insured survives and pays the full twenty-six payments on the scale named, the maximum amount paid in premiums would be £1,183 (subject to rebate of income tax), while the minimum amount payable by the Society would be £1,467.
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