صور الصفحة
PDF
النشر الإلكتروني

TABLES OF RATES.

Tables showing the cost of various forms of annuities and insurance follow.

IMMEDIATE LIFE ANNUITIES.

TABLE SHOWING THE SUM FOR WHICH AN IMMEDIATE LIFE ANNUITY OF £1 (84.87)

WILL BE GRANTED. [The first half-yearly installment of such annuity will become due and payable on the second quarterly

day of payment next following the day of purchase.)
PURCHASE MONEY NOT RETURNABLE.

[blocks in formation]
[ocr errors]

5 and under 6.
6 and under 7.
7 and under 8.
8 and under 9.
9 and under 10.
10 and under 11.
11 and under 12.
12 and under 13.
13 and under 14.
14 and under 15.
15 and under 16.
16 and under 17.
17 and under 18.
18 and under 19.
19 and under 20.
20 and under 21.
21 and under 22.
22 and under 23.
23 and under 24.
24 and under 25.
25 and under 26.
26 and under 27.
27 and under 28.
28 and under 29.
29 and under 30.
30 and under 31
31 and under 32.
32 and under 33
33 and under 34.
34 and under 35.
35 and under 36.
36 and under 37.
37 and under 38.
38 and under 39.
39 and under 40.
40 and under 41
41 and under 12.
42 and under 43.

$126.29 $134. 44

125. 33 133. 61
124. 36 132. 77
123. 37 131. 92
122. 37 131. 07
121. 38 130. 20
120. 39 129. 33
119. 35

128. 44
118. 34 127. 52
117. 30 126. 61
116. 27 125. 68
115. 21 124. 72
114. 14 123. 77
113. 09 122. 80
112 01 121. 82
110.92 120. 81
109. 82 119. 80
108.71 118. 76
107. 61 117. 73
106. 47 116. 65
105. 34 115. 58
104. 20 114. 48
103. 05 113. 37
101.89 112. 23
100. 72 111.08
99. 54 109.90
98 34 108. 71
97. 13 107. 49
95. 91 106. 23
94. 69 104 97
93. 46 103. 70
92. 20 102. 38
90.94 101. 04
89. 67

99. 66 88. 37 98. 28 87. 07 96. 84 85. 73 95. 40 84. 39

93. 90

43 and under 44.
44 and under 45.
45 and under 46.
46 and under 47
47 and under 48
48 and under 49
49 and under 50.
50 and under 51
51 and under 52.
52 and under 53.
53 and under 54.
54 and under 55.
55 and under 50
56 and under 57
57 and under 58.
58 and under 59.
59 and under 60.
60 and under 61
61 and under 62.
62 and under 63.
63 and under 64.
64 and under 65.
65 and under 66.
66 and under 67.
67 and under 68.
68 and under 69
69 and under 70.
70 and under 71.
71 and under 72.
72 and under 73.
73 and under 74.
74 and under 75.
75 and under 76.
76 and under 77.
77 and under 78.
78 and under 79.
79 and under 80.
80 and over..

$83. 05 81. 68 80.28 78. 88 77. 44 75. 98 74. 48 72. 98 71. 42 69. 85 68. 23 66, 59 64. 91 63. 18 61. 42 59. 59 57. 75 55. 88 54. 06 52. 29 50. 53 48. 79 47. 04 45. 34 43. 70 42. 05 40. 43 38. 79 37. 19 35. 61 34. 09 32. 63 31. 23 29. 85 28 55 27.31 26. 08 24.90

$92. 38 90. 82 89. 24 87. 60 85. 93 84. 21 82. 47 80. 72 78. 98 77. 22 75. 41 73. 57 71. 72 69. 81 67.89 65. 96 64. 01 62. 07 60. 10 58. 15 56. 21 54. 24 52. 21 50. 21 48. 20 45. 19 44. 24 42. 38 40.59 38. 89 37. 23 35. 61 34. 03 32. 50 31.00 29. 56 28. 16 26.83

[ocr errors][ocr errors]

The annuity tables give the cost of an annuity of £1 [$4.87], and an annuity of a larger amount costs a larger sum in exact proportion. Savings bank annuities are payable by half-yearly installments on the 5th January and 5th July or the 5th April and 10th October, according to the date of purchase.

DEFERRED LIFE ANNUITIES. TABLE SHOWING THE YEARLY SUM OR THE SINGLE PAYMENT FOR WHICH A

DEFERRED LIFE ANNUITY OF £1 (84.87) WILL BE GRANTED. [The first half-yearly installment of such annuity will become due and payable on the second quarterly

day of payment next following one of the undermentioned periods, reckoning such periods from the day of purchase. The upper half of the table shows the rates on the payment of which the purchase money will be returned on application or on the death of the nominee is an installment of the annuity shall not have become due. Where the rates shown in the lower half are paid, no return of purchase money can be had.)

PURCHASE MONEY RETURNABLE.

[blocks in formation]

In 11 yearly sums of

In 1 sum at

time of purchase.

In 11 yearly sums of

In 1 sum at time

In 21 yearly suums 01

In 1 sum at

time of pur. chase.

In 21 yearly sums of

In 1 sum at time

of pur

chase.

of purchase.

21 and under 22.
22 and under 23.
23 and under 24.
24 and under 25.
25 and under 26.
26 and under 27.
27 and under 28.
28 and under 29.
29 and under 30.
30 and under 31.
31 and under 32.
32 and under 33.
33 and under 34.
34 and under 35.
35 and under 36.
36 and under 37.
37 and under 38.
38 and under 39.
39 and under 40
40 and under 41
41 and under 42.
42 and under 43.
43 and under 44.
44 and under 45.
45 and under 46.

$7.89
7. 79
7.69
7. 60
7.50
7. 40
7.30
7. 20
7. 10
6.98
6. 87
6.77
6.67
6. 55
6. 45
6. 33
6. 20
6. 10
5.98
5. 86
5. 74
5. 60
5. 47
5. 35
5. 21

$76.83
75. 88
74.92
73.97
73.00
72. 02
71. 03
70.04
69. 04
68. 01
66.98
65.94
64. 89
63. 81
62. 72
61. 62
60, 49
59.35
58. 20
57. 02
55. 80
54. 57
53. 31
52. 01
50. 69

$8. 72 $84 92
8. 62 83.97
8. 52

82.99
8. 42 82.00
8. 31 81.01
8. 21 79.97
8.11 78. 92
7. 99 77. 85
7. 89 76. 77
7. 77 75. 65
7.64 74 52
7.52 73. 36
7. 40

72. 17
7. 28 70.95
7.16 69. 71
7.04 68. 44
6. 89 67. 12
6. 75 65. 78
6.61 64. 44
6. 47 63. 06
6.33 61. 70
6. 20 60.32
6.04 58. 91
5. 90 57. 49
5. 76 56.03

$3.16 $52.34
3. 12

51. 50
3. 06 50. (9
3. 02 49. 84
2. 96

48. 99 2. 92 48. 14 2. So 47. 27 2. So 46.37 2. 76 45. 46 2. 70 44. 55 2. 64

43. Co 2. 58 42.62 2. 51

41. 65 2. 45 40.64 2. 39 39. 62 2. 33 38. 57 2. 27 37. 49 2. 21 36. 38 2. 13 35, 24 2.07 34. 11 2. 01

32.99
1.93 31.92
1.87 30. 84
1. 80 29. 77
1.74 28. 71

$3. 53
3. 47
3. 41
3. 35
3. 28
3. 22
3. 16
3. 10
3. 04
2.98
2.92
2. 86
2. 78
2. 72
2. 66
2. 58
2. 51
2. 43
2.37
2. 29
2. 23
2. 15
2. 07
2. 01
1.93

$58. 22 57. 30 56. 39 55. 44 54. 46 53. 47 52. 44 51. 40 50. 33 49. 27 48. 20 47. 12 43.03 44. 89 43. 78 42. 62 41. 45 40. 25 39. 07 37. 88 36. 68 35. 48 34. 31 33. 09 31. 88

PURCHASE MONEY NOT RETURNABLE.

21 and under 22.
22 and under 23.
33 and under 24.
24 and under 25.
25 and under 26.
26 and under 27
27 and under 28.
28 and under 29.
29 and under 30.
30 and under 31.
31 and under 32.
32 and under 33.
33 and under 34.
34 and under 35
35 and under 36.
36 and under 37
37 and under 38.
38 and under 39.
39 and under 40.
40 and under 41.
41 and under 42.
42 and under 43.
43 and under 44.
44 and under 45.
45 and under 46.

$7.36 $68. 70
7. 26 67. 66
7.16 66. 59
7.04 65. 54
6.93 64. 44
6.83 63. 37
6. 73

62. 27
6. 61 61. 18
6. 51 60.06
6.39 58. 95
6. 29 57.83
6. 16 56. 69
6.06 55. 54
5.94 54. 38
5. 82 53. 23
5. 70 52. 05
5. 60 50. 88
5. 47 49. 68
5. 35 48. 46
5. 23 47. 25
5. 09 46.01
4. 97 44. 77
4. 85 43. 51
4. 70 42. 24
4. 58 40.94

$8.27 $78. 21
8. 17 77. 19
8.07 76. 18
7.97 75. 15
7.87 74.09
7. 75 73. 02
7. 64

71.92
7.52 70.83
7. 42 69.69
7.30 68. 56
7.18 67. 38
7.06 66. 20
6.93 65. 01
6.81

63. 77 6. 69 62. 51 6. 55 61. 24 6. 43 59.94 6. 29

58. 60
6.14 57. 24
6.00 55. 86
5.89 54. 44
5. 70 52.98
5. 56 51. 52
5. 39 50.00
5. 23 48. 48

$2.68 $40.37
2.64 39. 45
2.58 38. 55
2.51 37. 61
2. 47 36. 68
2. 41 35. 75
2. 35 34. 82
2. 29 33. 86
2. 25 32.93
2. 19 31. 96
2. 13 31.00
2. 07 30.05
2. 01

29. 08
1.95 28. 10
1. 89 27. 11
1. 83 26. 14
1. 76

25. 14 1.70 24. 13 1.64 23. 14 1. 58 22. 10 1. 50 21.09 1. 44 20.05 1. 38 19.00 1. 30 17.95 1. 24

16.89

$3.14

3. 08 3. 02 2. 96 2.90 2.84 2. 78 2. 72 2. 66 2. 60 2. 53

45 2. 39 2. 31 2. 25 2. 17 2. 11 2. 03 1.95 1. 89 1. SO 1. 72 1.64 1. 56 1. 48

$48. 46 47.53 46.58 45. 62 44. 65 43. 66 42. 64 41.61 40. 57 39. 52 38. 43 37. 33 36. 21 35. 08 33. 92 32. 77 31. 59 30. 40 29. 20 27. 96 26. 73 25. 49 24. 23 22. 95 21.68 40.

The annuity tables give the cost of an annuity of £1 [$4.87], and an annuity of a larger amount costs a larger sum in exact proportion. For instance, an annuity of £10_[$48.67] a year would cost ten times the amount given above. These annuities can be deferred any number of years, from 10 to 50, and any cost not given above will be furnished on application to the controller, savings bank department, London.

LIFE INSURANCE.

TABLES SHOWING TIIE ANNUAL PREMIUMS TO ASSURE £5 ($24.33).

[blocks in formation]

10. 11 12. 13. 14. 15. 16. 17 18. 19 20. 21 22. 23. 21. 25. 26 27 28. 29. 30. 31. 32. 33. 34. 35 36. 37 38 39.

. 49 . 51 .51 . 53 .53 . 55

57 .59

59 .61 63

47 . 49 49 51 51 .53

.71

.59

61 .63 .65 .67

. 73

. 59

. 53

[ocr errors]

. 71 . 73 .75

.61 .63 .63 .65 .67 .69

. 55
55
57
59
61
61
63
65
67

.77 .81

. 71

.67 .69 . 71 . 73 .77

.83

.87

73 . 77 79

.89

. 79

.75 .77

81 .83

87 .91 .95 .99 1.03 1.07 1. 14 1. 20 1. 26 1. 34 1. 42 1.50 1. 60 1. 72 1. 87 2.03 2. 21

.93

.81 .85

[blocks in formation]

.97 1.01 1.07 1.12 1. 18 1. 24 1. 30 1.38 1. 46 1. 56 1. 66 1. 78 1.93 2.09 2. 27

41. 42 43

99 1.03 1. 05

89 . 93 .97 1.01 1. 07 1.14 1. 20 1. 26 1. 34 1. 44 1.54 1. 66 1. 80

.87 .91 .95 .99 1. 03 1. 07 1.12 1. 18 1. 24 1. 30 1. 36 1. 44 1.54 1. 62

45. 46. 47 48 49 50

These tables are applicable to assurances for amounts not less than £5 ($24.33] and under £25 ($121.66]. Premiums for assurances over £5 [$24.33] are proportionately higher. For instance, the premium for an assurance of £10 [$48.67] would be twice the amount given above.

TABLES SIIOWING THE ANNUAL PREMIUMS TO ASSURE £100 ($186.65).

[blocks in formation]

15. 16. 17. 18. 19, 20. 21

23.

21. 25.

27

29.

23

$6.93 7.18 7. 42 7.66 7. 79 8.03 8. 27 8. 39 8. 64 8. 88 9. 12 9. 37 9. 61 9.85 10. 10 10. 46 10. 71 11. 07 11. 31 11. 68 12 04 12. 41 12.90 13. 26 13. 75 14. 11 14. 60 15. 21 15. 69 16.30 16. 91 17.52 18. 25 18. 86 19. 71 20. 44

31 32 33. 34. 35.

$7.54 7. 79 & 03 8. 39 8. 64 8.88 9. 12 9. 37 9. 61 9.98 10. 34 10. 58 10. 95 11. 44 11. 80 12. 17 12. 65 13. 14 13. 63 14. 23 14. 84 15. 45 16, 18 16. 91 17. 76 18. 61 19. 59 20. 68 21. 90 23. 24 24. 70 26. 40 28. 23 30. 42 32.97 35. 89

$9.73 10. 10 10. 46 10. 83 11. 19 11. 68 12.04 12. 53 12.90 13. 38 13. 99 14. 48 15. 09 15. 82 16. 42 17. 28 18.01 18. 86 19. 83 20.93 22.02 23. 24 24. 70 26. 16 27. 86 29.81 32.00 34. 43 37. 35 40. 76 44. 65

$8 64 9.00 9. 37 9. 61 9.98 10. 34 10.58 10.95 11. 31 11. 68 12.04 12. 53 13. 02 13.50 13. 99 14. 48 15. 09 15. 69 16. 42 17.03 17. 88 18. 74 19. 59 20. 56 21. 06 22. 75 24. 09 25. 43 27.01 28. 83 30. 78 33. 09 35. 53 38. 45 41.85 45. 87

$8.03 8. 27 8. 52 8. 76 9. 12 9. 37 9. 61 9. 85 10. 22 10. 46 10. 83 11. 19 11. 56 11.92 12. 29 12. 77 13. 14 13. 63 14. 23 14. 72 15. 33 15. 94 16. 55 17. 28 18.01 18. 86 19. 71 20. 68 21. 66 22. 75 24.09 25. 43 20. 89 28. 47 SO. 29 32.36

[merged small][ocr errors][merged small]

These tables are applicable to assurances of £25 ($121.66] to £100 [$486.65), the premiums for assurances of less than £100 [$486,65] being proportionately lower. For instance, the premiums for an assurance of £50 [$243.33] would be half the amount given above.

GENERAL ADMINISTRATION. The administration of the law governing the issue of policies of insurance and annuities rests with the national debt commissioners, the post-office savings banks being only the agents through which the details of the business are transacted locally.

The expense of conducting the business of insurance is very small, since the existing offices and officials are in no wise burdened by the additional duties devolving upon them in connection with this branch of the work. Indeed, it was a part of the original proposition that the insurance business should not be charged with management expenses, and apart from the cost of the issue of contracts and annual transfer of accumulated savings banks deposits, the insurance section bears no financial burdens of administration.

Investments are restricted by statute to the same class of funds as are the savings bank deposits, i. e., what are known as parliamentary securities. This restricts the rate of interest as compared with that obtainable by other insuring agencies, but is in accord with the fixed policy of the Government in this respect. A departmental committee taking testimony on the subject in 1907 found the interest rate at that time to be 3} per cent, while with a greater latitude of investment a return three-tenths per cent greater could have been had from the same general class of securities. It is expected that the rate shall not go below 21 per cent.

It was found in 1896 that the rates of premium in use were unnecessarily high, but since the policy of the Government was opposed to the payment of dividends, there was no distribution of profits other than as effected by a reduction of the rates. This step was taken and the reduction was made to apply not only to policies subsequently issued, but to those also that were in existence at the time that it was made. New business is encouraged in some degree by allowing to any employee of the post-office who witnesses the signature of an applicant whose application is successful a fee ranging from 1s. (24 cents) for a policy of not over £10 ($48.67) to 4s. (97 cents) for a policy of £100 ($486.65). Efforts have been made to enlarge the class of persons to whom such commissions might be paid, but these have not met with official approval. Details as to the collection of premiums are sufficiently presented in the circular reproduced under the heading present purpose and scope.”

As already stated, the premium rates were in 1896 reduced from the standard then in use under the act of 1882, and no question as to the adequacy of the rates to secure the payment of life insurances seems to have arisen. The contracts both for deferred annuities and for life insurance are based on an interest rate of 24 per cent per annum, which is the rate of British consols in which practically all insurance funds are invested. The purchase at times of these securities below par allows for a somewhat higher interest rate, but it has developed with reference to the funds and payments relative to deferred annuities that they are not adequate to meet contract liabilities. In the report of the last quinquennial valuation, made at the close of the year 1905, it was disclosed that there was a surplus in the total funds relating to insurance to the amount of £77,771 ($378,473), while in respect of the department of deferred annuities, there was

« السابقةمتابعة »