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
population. But in 1790 it became about one in forty-five, in 1800
one in forty-eight, in 1810 one in fifty-four, and in the ten years
preceding 1820 one in sixty, in England and Wales.
But though these important facts had gradually become known; although
it was also clear that people lived longer; that the wealthy classes
attained a greater age than the indigent; that the value of a lady’s
life, commercially, and not in the spirit of gallantry, was superior to
that of a gentleman; it could scarcely be said to be acted on. So late
as 1819, Dr. Rees suggested the importance of specifying the sexes, and
discriminating them in the burial registers, advising also that the
numbers of both sexes dying of every distemper in every manner and at
every age should be specified. “This would afford the necessary data
for ascertaining the difference between the duration of human life
among males and females, for such a difference there certainly is much
in favour of females.”
The tables on which the rates of the companies had been founded, had
given the continuance of life at a far lower estimate than time had
proved it to possess. The enormous success of the original societies
had proved this; and, by 1821, it was generally understood that the
Northampton table was only an approximation to the truth. This table
was chiefly in use until the Carlisle table of Mr. Milne gradually made
its way, up to which period the following were the principal sources
whence information was derived:--
A Record of the Births and Burials in Breslau from 1687 to 1691.
London Bills of Mortality from 1728 to 1737.
Register of Assignable Annuities in Holland from 1623 to 1748.
Lists of the Tontine Schemes and the Necrologies of Religious Houses in
France.
Mortality of Northampton for forty-six years prior to 1780.
” of Norwich thirty years prior to 1769.
” of Holy Cross thirty years prior to 1780.
” Warrington for nine years.
” Chester for ten years.
” Vienna, Berlin, and Brandenburgh.
” Seven enumerations of the entire population of
Sweden.
” of similar materials from the Canton de Vaud.
Public-domain text, read in full here on John Shaqi.
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