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
These rules might have been certified by a Pratt, so simple and so
excellent is their arrangement. But they must not be regarded as
exceptional. The following form a portion of the regulations of
another similar society at Exeter:--
“1. At each meeting every member shall contribute two sextaria of
barley meal, and every knight one, together with his quota of honey.
“2. When any member is about to go abroad, each of his fellow-members
shall contribute five pence; and if any member’s house is burnt, one
penny.
“3. If any one should by chance neglect the stated time of meeting, his
regular contribution to be doubled.”
Well may Mr. Ansell say, “The guilds or social corporations of the
Anglo-Saxons seem, on the whole, to have been friendly associations,
made for mutual aid and contribution, to meet the pecuniary exigencies
which were perpetually arising.” Nor can the reader fail to be struck
with the resemblance these rules bear to those of many of the modern
societies; and, as they were framed 800 years ago, the similitude is
somewhat remarkable. After the Conquest guilds were established for
the express promotion of religion, charity, or trade, and from these
fraternities the various companies and city corporations have arisen.
The following, forming a portion of the rules of St. Catherine’s Guild,
seem like those of some modern fraternity:--
“If a member suffer from fire, water, robbery, or other calamity, the
guild is to lend him a sum of money without interest.
“If sick or infirm, through old age, he is to be supported by his guild
according to his condition.
“If a member falls into bad courses, he is first to be admonished, and
if found to be incorrigible he is to be expelled.
“Those who die poor, and cannot afford themselves burial, are to be
buried at the charge of the guild.”
Societies like these, established at a period when
“The good old rule, the simple plan,
That they should take who have the power,
And they should keep who can,”
was almost the law of the land, cannot fail to surprise those who
believe that the past was an age of barbarism, and the present the
culminating point of civilisation. It is certainly a curious truth,
that that combination which has been esteemed a peculiar feature of
modern times, had its antetype in societies framed when commerce and
law were yet in their infancy.
Public-domain text, read in full here on John Shaqi.
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