Annals, Anecdotes and Legends: A Chronicle of Life AssuranceFrancis, John, of the Bank of England
History
Annals, Anecdotes and Legends: A Chronicle of Life Assurance
Francis, John, of the Bank of England
Life insurance
In 1829, Wainwright went with his wife to visit his uncle, by whose
bounty he had been educated, and from whom he had expectancies.
His uncle died after a brief illness, and Wainwright inherited his
property. Nor was he long in expending it. A further supply was
needed; and Helen Frances Phœbe Abercrombie, with her sister Madeline,
step-sisters to his wife, came to reside with Wainwright; it being soon
after this that those extraordinary visits were made at the various
life offices, to which allusion has been made.
On 28th March, 1830, Mrs. Wainwright, with her step-sister, made their
first appearance at an insurance office, the Palladium; and by the
20th April a policy was opened on the life of Helen Frances Phœbe
Abercrombie, a “buxom handsome girl of one-and-twenty,” for 3000_l._,
for three years only. About the same time a further premium was paid
for an insurance with another office, also for 3000_l._, but for only
two years. The Provident, the Pelican, the Hope, the Imperial, were
soon similarly favoured; and in six months from granting the first
policy, 12,000_l._ more had been insured on the life of the same
person, and still for only two years.[20] But 18,000_l._ was not enough
for “kind light-hearted Janus Weathercock;” 2000_l._ more was proposed
to the Eagle, 5000_l._ to the Globe, and 5000_l._ to the Alliance; all
of whom, however, had learned wisdom. At the Globe Miss Abercrombie
professed scarcely to know why she insured; telling a palpable and
foolish falsehood, by saying that she had applied to no other office.
At the Alliance, the secretary took her to a private room, asking
such pertinent and close questions, that she grew irritated, and said
she supposed her health, and not her reasons for insuring, was most
important. Mr. Hamilton then gave her the outline of a case in which a
young lady had met with a violent death for the sake of the insurance
money. “There is no one,” she said in reply, “likely to murder me for
the sake of my money.” No more insurances, however, being accepted,
the visits which had so often relieved the tedium of official routine
ceased to be paid. These applications being unsuccessful, there
remained 18,000_l._ dependent on the life of Helen Abercrombie.
Public-domain text, read in full here on John Shaqi.
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