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
“Of a six-bar gate 4
Of a quick-set hedge 2
Broke his neck in robbing a hen-roost 1
Surfeit of curds and cream 2
Took cold sleeping at church 11
Of October 1
Of fright in an exercise of the train-bands 1.”
Addison also composed the following bill of mortality in a paper “On
Dying for Love;” and it is a further proof of the attention paid to the
subject, that this great writer took it as a model:--
“T. S. wounded by Zelinda’s scarlet stocking, as she was stepping out
of a coach.
“Tim Tattle killed by the tap of a fan on his left shoulder by
Coquetilla, as he talked carelessly with her at a bow-window.
“Samuel Felt, haberdasher, wounded in his walks to Islington, by Mrs.
Susanna Cross Stitch, as she was clambering over a stile.
“John Pleadwell, Esq., of the Middle Temple, assassinated in his
chambers, the 6th instant, by Kitty Sly, who pretended to come to him
for advice.”
After 1712, these projects ceased to be placed before the town; and
the following odd “bite” had its share in dispersing the hungry crew
who proposed them. “There has been the oddest bite put upon the town
that ever was heard of. We having of late had several new subscriptions
set on foot for raising great sums of money for erecting offices
of insurance,” &c.; “and at length some gentlemen, to convince the
world how easy it was for projectors to impose upon mankind, set up
a pretended office in Exchange Alley, for receiving subscriptions
for raising 1,000,000 of money to establish an ‘effectual’ company
of insurers, as they called it: on which, the day being come to
subscribe, the people flocked in and paid down 5_s._ for every 1000_l._
they subscribed, pursuant to the Company’s proposals; but after some
hundreds had so subscribed, that the thing might be fully known, the
gentlemen were at the expense to advertize, that the people might have
their money again without any deductions; and to let them know that
the persons who had paid in their money contented themselves with a
fictitious name set by an unknown hand to the receipts delivered out
for the money so paid in, that the said name was composed only of the
first letters of six persons’ names concerned in the said scheme.”
For a period the people had rest from new propositions: as it was found
necessary to stop these offices for insurances on marriages, births,
christenings, and annuities, and to close the career of gentlemen
without a penny; this being done by the insertion of a clause in an
Act of the 10th of Queen Anne, enacting a penalty of 500_l._ on the
promoters of such societies.
Public-domain text, read in full here on John Shaqi.
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