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A policy in this class is virtually world-wide and uncon-ditional, and every practical facility and privilege has beenextended to the policy holders.

LIVERPOOL AND LONDON AND GLOBEINSURANCE COMPANY,

7, Cornhill, E.C.With reference to your circular letter of Nov. 5th, I

enclose one of this Company’s prospectuses. There aretables therein for: Whole term, with profits (B); wholeterm, without profits (A); whole term, endowment assur-ances (G and H); temporary assurances (C); whole term,limited payments (E and F); which I gather from your ’,article of Oct. 18th last are those descriptions of life assur-ance which appear the most desired by the medical pro-fession, and from whom the directors have at all times beenready to receive proposals upon the same favourable termswhich have been conceded to the rest of the community.As regards the medical profession generally, the "fewcorrespondents of THE LANCET who look upon any offer ofspecial advantages with suspicion" are, in my opinion, byno means unjustified in the view which they have formed,and to which they would find more numerous adherentsupon deeper consideration being given to the subject bytheir professional brethren, it being clear that it is mostdifficult to grant what are termed special terms to oneclass of men without doing injustice to others from whomsuch concession may be withheld. For example, doctorscould hardly be expected to give their support to any schemedispensing with medical examinations, whilst some otherclasses are glad to have found a precedent for such a course,unmindful of or uncaring for the fact that they place theother assured at a disadvantage.

LONDON ASSURANCE CORPORATION,7, Royal Exchange, London, E.C.

It is our practi ce to treat all the policy h olde rs withIt is our practice to treat all the policy holders with equalfairness, and not to give any section of them advantageswhich cannot be enjoyed by the whole body.

LONDON AND LANCASHIRE LIFE ASSURANCECOMPANY.

Established 1862. Head Office : 66, Cornhill, E.C.DISTINGUISHING FEATURES.

1..Low rates of premium, as shown by the following special rates, for an assurance of £100 for the whole term oflife, with profits, declared every five years.

The average reversionary bonuses varied from £1 to.61 lox. per cent. per annum, and, based on the last divisionof profits, were equivalent to about 60 per cent. of the pre-miums paid during the quinquennium.

2. A new scheme of endowment assurance, particularlyadapted to the requirements of medical and other pro-fessional men, offering special advantages to those who aredesirous of creating a fund available in later years, com-bining a family provision with a good investment or anannuity for life.The following table shows the benefits that may be

secured by an endowment assurance, taken out at theundermentioned ages and maturing at sixty.Sum assured £1000, payable, in the event of death, before

attaining age sixty.Estimated Results at the end of the Term.

Policies are, after three years, non-forfeitable, eachannual premium paid securing a proportionate part ofthe sum assured without any further premiums to pay, orthe policy may be surrendered for the equivalent cash value.

3. Liberal conditions, rendering the policy practicallyworld-wide and indisputable from the commencement.

4. Claims paid immediately on proof of death and title.

THE METROPOLITAN LIFE ASSURANCESOCIETY,

3, Princes-street, Bank, E.C.Established in 1835 for mutual assurance.The principles upon which the business of the Society is

carried on are distinctive in many respects. It employs noagents, and therefore pays no commission; it has no shareholders, and therefore pays no dividends-the saving thuseffected being returned by way of bonus to the members.The entire expenses of management are only 4 per cent. ofthe income.The method of division of the surplus, too, is peculiar,

but entirely consistent with the expressed aim of thefounders-namely, to provide assurance of fixed amount atthe least possible outlay.With this object the surplus funds are applied exclusively

in reduction of premium, instead of in augmentation of thesums assured. The full premium is payable for five yearsonly, and is thereafter subject to abatement according tothe result of the annual valuation ; only such a proportionof the nominal premium being then charged as will suffice,with the funds in hand, to provide for the sums assured atdeath.The reduction of premium for the present year is 40 per

cent. on all policies of the current series which have beenfive years or more in force. For example, a man whoeffected a policy for £1000 at age thirty in 1885 at anannual premium of jE24 17s. 6d. is this year charged only.614 18s. 6d., with the prospect of gradual further reductionas time goes on.Such favourable results are the effect of economy of

management and judicious selection of lives; the latterpoint being one of which all members of the medical pro.fession will appreciate the importance, while the value ofthe former is patent to everyone.No alteration of the published terms and conditions is

made in favour either of individuals or classes, but allmembers share alike in the advantages of a purelycooperative society.

Participation in the profits is restricted to holders ofordinary whole-life policies, but the Society also grantsendowment assurances, joint life, survivorship, and periodpolicies, &c., at very low rates.

Finally, the office is possessed of ample funds to meet itsliabilities, which are valued by the Hm table at 3½ per cent.interest, and its investments and accounts are submittedannually to the scrutiny of professional auditors.

MUTUAL LIFE ASSURANCE SOCIETY,39, King-street, Cheapside.

The Mutual Life Assurance Society is a purely MutualOffice, established in 1834, with the object of securing to itsmembers the greatest benefits to be derived from the mostperfect system of life assurance. The funds amount tonearly fifteen times the annual Premium Income, and areover 41 per cent. of the total sums assured. New entrantsshare equally with the old in the large accumulated surplusof £464,000, according to the premiums paid, accumulatedat 3 per cent. compound interest. The Society transacts allclasses of life assurance business. No preference is given toany class or body of persons. Members of the medical pro-fession are taken on the same terms as other first-classlives.

___

MUTUAL LIFE INSURANCE COMPANY OFNEW YORK.

Established 1843. Head Office for the United Kingdom,17 and 18, Cornhill, London, E.C.

A man insuring his life, especially if he be a medicalpractitioner just starting, wants to accomplish two purposes:first, to secure the largest amount of immediate insurance

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protection for his family in case of early death; secondly, ifhe survive his fifth or sixth decade, the policy which hasthus far protected his family should, at his option, providefor his declining years.Now, it has hitherto been impossible, under an English

insurance contract, to combine these two conditions--thatis to say, the endowment and life contract, which are soessential to the majority of those seeking life insurance.For, should a medical practitioner take an endowmentpolicy, he, in case of his death, sacrifices the interestsof his family; while, on the other hand, if he takes a lifecontract, he sacrifices what may be of equal importance-viz., provision for himself in his old age.

I am happy to be able to inform you that the MutualLife Insurance Company of New York has embodied thesetwo conditions in the Company’s new twenty-year distribu-tion policy. Moreover, in this new policy, which containsadvantages not conferred by the endowment policy, thepolicy holder may take a fully paid-up participating policyfor a largely increased amount, for which no furthermedical examination is required, payable at death to hisfamily, should this be preferable to him, or he has the

option of leaving the cash value of the policy payable athis death to his family, meanwhile drawing an annuity onthe amount of such policy at the rate of 3 per cent. perannum.

I must not trespass upon your space to get out anexample in detail, but I take the liberty of enclosing acopy of our prospectus. I would only add that, assuminga man aged thirty to take out a twenty-year endowmentpolicy for £1000, he would pay, say, £50 per annum, but if hetook out one of our new twenty-year distribution policies,we would insure him for twice that amount at a premiumof £62, and this policy would give him the same guaranteeat the end of the period as an endowment policy, inaddition to the other options above referred to. Underthis contract, therefore, he secures the benefit of an extra91000 of insurance at a cheaper rate than he would becharged for mere non-profit term insurance for the sameperiod, and yet obtain the full benefit of the most perfectendowment policy.

I enclose a proposal form, from which you will see theextremely simple and direct character of the contract, andI would like to call your attention to the clause insertedin our policies making the policy incontestable after thesecond year, and payable in sterling at the London officeimmediately upon proof of death.

THE NATIONAL LIFE ASSURANCE SOCIETY.This Society was established in 1830 as a Proprietary

Company. Owing to the success of its operatious, and theeconomy with which its affairs were conducted, a largefund was accumulated from the premiums, which ren-dered unnecessary the continuance of the guaranteeafforded by the shareholders’ capital, and an arrangementwas made in 1848 by which the shareholders were paidoff, and the Company was converted into a Mutual Society,the whole of the profits henceforth belonging to the policyholders. The policies are divided into four classes. Ofthese, Class A embraces those effected at participatingrates of premium, prior to Jan. 1st, 1871. In this classthe profits, in accordance with the Society’s constitution,have been applied in reducing ratably the premiums. Therate of reduction for the five years ending with 1890 hasbeen 87 per cent., and as the result of the valuation justcompleted, the directors are enabled to declare for the fiveyears 1891-5 a reduction of 100 per cent. on the premiums.In other words, during the next five years the policy holderswill have nothing to pay, and as, in the calculations bywhich the rate of reduction is determined, it is assumedthat such reductions will continue during the currencyof the policies, not merely for the period of five years duringwhich it is declared, it may be presumed that the premiumshave been finally extinguished. Class B consists of policieseffected at participating rates of premium since 1870,except children’s endowments, and is the one now open tonew members. Class C comprises all assurances not par-ticipating in profits.Many years ago the Society caused an inquiry to be

made as to the rates of mortality prevailing among thechildren of the upper and middle classes, with the view of

establishing a Children’s Endowment Fund. This fundwas set on foot after completion of the investigations, andwas called Class D. Class D may therefore be looked uponas a special feature of this Society, and consists of Children’sEndowments participating in profits. Among other featuresof the National Life Office we may mention special tablesfor the insurance of military and naval officers at moderatefixed rates which cover all risks of climate and service.

The attention of the medical profession may be drawnspecially to the Society’s tables of rates for assurances pay-able at death or on the attainment of specified ages.These rates will be found to be moderate, and at the sametime, under the Society’s method of distribution, which aimsat an equitable apportionment of the surplus funds amongthe policy holders, it is anticipated that large bonuses willbe allotted to these assurances. For persons who wishto secure a provision for old age they may be very con-veniently associated with deferred annuities. For instance,a person who effects an insurance for £1000 under thesetables, payable at the age of sixty, may, if he elects to doso at the time of taking out the policy, take an annuity of£98 13s. 4d. per annum for the remainder of his life, insteadof the £1000, after attaining the age of sixty.

NATIONAL ASSURANCE COMPANY OF IRELAND,3, College-green, Dublin.

In response to your invitation I send you a prospectus ofthe National Assurance Company of Ireland, setting out aspecial system of life assurance, under which 75 per cent. ofthe sum assured is paid on account during lifetime,

The system is, in fact, a happy combination of endow-ment and whole life assurance, subject to limited paymentsof premium, and therefore, apparently, more nearly thanany other system meeting the requirements of the medicalprofession as expressed by the percentages of opinion givenin your valuable statement.The following is an example of the working of the system

in the case of a man aged thirty.Table A.

For an assurance of 91000 he pays £30 a year, andwhen he reaches the age of fifty he receives £250 ; at theage of fifty-five he receives a further sum of £250 ; at theend of another five years—i.e., at the age of sixty-theassured again receives a sum of ;E250, and all premiumscease, leaving the balance of £250 to be paid at death.

Table B.Under this table the advantages will be found equal to

those in Table A, the main feature of difference being theprogressive reductions in the premiums payable after

reaching the first specified age. A proposer, age thirty,under this table, will pay £33 yearly up to the age of fiftyfor an assurance of 91000; upon reaching that age he willreceive j6250, and the premium during the next five yearswill fall to jE23 ; at the age of fifty-five he receives a furtherE250, and the premium falls to £14 ; at the age of sixtythe assured receives another payment of £250, and all thepremiums cease, leaving, as the case in Table A, a balanceof j6250 to be paid at death.In dealing with medical men I beg to say that on all

business introduced by them, whether on their own lives orthe lives of others, and sent direct to the head office, wewould be disposed to grant an allowance in respect of com-mission similar to that which we allow to our appointedagents. -

NATIONAL PROVIDENT INSTITUTION,48, Gracechurch-street, London.

J!:stab1ished in 1835 for the transaction of mutual lite

assurance, and for the granting of annuities and endow-ments.

Since its commencement it has issued upwards of 53,000policies, has paid in claims upwards of f7,900,000, hasdeclared profits amounting to £4,000,000.

Its gross annual income exceeds £500,000.Its accumulated fund exceeds £4,400,000.The members are exempt from any liability, the accumu-

lated fund alone being liable.