ANNUAL REPORT OF THE GOVERNMENT INSURANCE COMMISSIONER FOR THE YEAR ENDED 31st DECEMBER, 1917.

Appendix to the Journals of the House of Representatives, 1918 Session I-II, H-08

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Session 11. 1918. NEW ZEALAND.

ANNUAL REPORT OF THE GOVERNMENT INSURANCE COMMISSIONER FOR THE YEAR ENDED 31st DECEMBER, 1917.

Presented to both Houses of the General Assembly pursuant to the Provisions of the Government Life Insurance Act, 1908.

Government Insurance Office, Wellington, 18th July, 1918. I have the honour to submit the following report upon the transactions of the Department for the year ended the 31st December, 1917, and its position at that date. The Eevenue Account, Balancesheet, and Statement of Business are appended. Neiv Business and Amount in Force. —During the year 3,676 proposals were dealt with for the assurance of £1,009,150. The number of policies actually completed was 2,898, assuring £784,600, with annual premiums amounting to £28,237. Thirty-one annuities were also granted, on which the purchase-money was £11,224. The total business now in force, including 402 immediate and deferred annuities for £18,878 per annum, is 53,058 policies, bearing an annual premium income of £387,377. The sum assured, payable at death or maturity, is £12,884,531, to which have been added reversionary bonuses amounting to £1,304,243. The total business on the books thus amounts to £14,188,774. Income. —The total income of the Department was £645,277 —viz., premium income, £383,727 ; interest income (less land and income tax), £250,326; annuity purchase-money, £11,224. Outgo. —During the year 984 policies became claims by the deaths of policyholders, the amounts payable being £263,773. The claims arising out of the war amongst the overseas forces numbered 517, or 53 per cent, of the total, representing in sums assured and bonuses £104,203. The total amount paid in war claims from August, 1914, to 31st December, 1917, has been £224,547, representing 1,097 policies. Six hundred and forty-four policies also matured for £159,605. The total sum which has been paid in respect of claims by death and survival since the foundation of the Department forty-eight years ago has amounted to £6,539,580. The expenses of management, including commission, amounted to £59,725, a reduction of £2,230 as compared with the previous year. The ratio of expenses (excluding land and income tax) to total income was 9-3 per cent. Accumulated Funds. —The total assurance, annuity, and endowment funds, apart from a special investment reserve of £288,825, now stand at £5,199,320. The Balance-sheet. —On the 31st December, 1917, the total assets of the Department amounted to £5,602,871, and were invested as shown in the following statement, which also gives the distribution of the assets at the end of the previous year for purposes of comparison :—

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At 31st December, 1916. , , Percentage Amount. rf Total As 5 BetSi Glass of Investment. At 31st December, 1917. Peroentage of Total Assets. Amount. I 3,227,796 589 per cent. 809,533 14-8 855,900 15-6 210,487 3-8 134,930 2-5 131,882 2-4 111,204 2-0 Mortgages on freehold property Loans on policies Government securities Local bodies' debentures Landed and house property Miscellaneous assets Cash in hand and on current account ... £ 3,141,294 780,976 1,055,900 209,277 134,898 130,064 150,462 56-1 per cent. 13-9 18-9 3-7 2-4 2-3 „ 2-7 5,481,732 100-0 per cent. 5,481,732 1000 per cent. Total 5,602,871 100-0 per cent.

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During the year the Branch's holding of war bonds was increased by £200,000, the last instalment (£50,000) of its 1916 subscription having been paid over and further amounts totalling £200,000 having been applied for. Of these last-named amounts £150,000 was paid into the Treasury prior to 31st December, 1917, and the balance of £50,000 early in the current year. In addition to completing this 1917 subscription the Branch has already this year taken up a further sum of £145,000 in inscribed stock under the War Purposes Loan Act, 1917. The rate of interest realized on the mean funds, after deduction of land and income tax from interest, was £4 16s. 3d. per cent. Investment Fluctuation Reserve. —Owing to the prolongation of the war there has been a further fall in the market price of Government and other securities quoted on the London Stock Exchange. The securities will naturally rise in value as they approach maturity, and will eventually be redeemed at par, but in the meantime it has been thought inadvisable to value them at more than their market value. An additional sum of £99,704 has therefore been carried to the Investment Fluctuation Reserve, bringing the amount up to £288,825. Triennial Investigation. —The valuation of the Department's liabilities on the 31st December last was completed early in the present year, full particulars of which are given in the Actuary's report. After adding a further sum of £99,704 to the Investment Fluctuation Reserve, as mentioned above, there remained a surplus of £216,712, of which £205,291 was divided among the policyholders by way of bonus, and the balance of £11,421 carried forward. The surplus divided, as on former occasions, was allotted as a compound reversionary bonus on the sum assured and bonuses in force, thus giving bonuses increasing with the duration of the policies to those policyholders who had not surrendered their previous bonuses. The bonuses allotted range from 20s. to 345. per cent, per annum in the case of the older policies, on the sum assured; General and Temperance policyholders, whose policies were in other respects equal, receiving the same bonus. The cash surplus divided, £205,291, represents additions to the policies payable at death or on maturity of £322,090. Since the inception of the Department in 1870, £2,016,676 in cash has been distributed by way of bonus, the corresponding additions to the sums assured being £3,568,310. The Staff. —The Department has continued the policy indicated in the last paragraph of my report for the year 1916 respecting the recruiting of its officers for service in the Expeditionary Forces. The members of the staff who have joined the Forces up to the present date number fifty-eight, and of these three have been killed and twenty-one wounded. One officer who is a member of the Second Division is under orders to go into camp in October next, while another is liable to be called up at short notice. In addition to these gentlemen who are now on active military duty or are about to report themselves, five of our officers are discharging civilian duties in the Defence Department and in the Discharged Soldiers Information Department, and one of our senior officers has been appointed secretary of the National War Funds Council. The absence of so many experienced officers with the Expeditionary Forces and on the various other war duties referred to has necessarily thrown an increased strain upon those who remain, and I am happy to have the opportunity of testifying to the excellent spirit in which increased duties and responsibilities have been undertaken, and the satisfactory manner in which the work of the Department has been carried on in the face of great and growing difficulties. J. H. Richakdson, Government Insurance Commissioner.

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Revenue Account of the Goveenment Life Insurance Department for the Year ended 31st December, 1917. £ s. d. £ a d. Amount of funds at Ist January, 1917 5,202,898 6 0 Death olaims under polioies, Assuranoe, Renewal premiums — Assuranoe, An- including bonus additions .. .. 263,773 5 6 nuity, and Endowment .. .. 358,857 11 8 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 156,741 13 1 of first year's premiums falling due Endowments matured .. .. 2,863 16 0 in the year) .. .. .. 23,830 4 3 Premiums returned on endowments .. 647 11 9 Single premiums—Assurance and En- Bonuses surrendered for oash .. 1,890 14 5 dowment .. .. .. 1,038 19 0 Annuities .. .. .. .. 18,592 3 2 Consideration for Annuities .. .. 11,224 1 7 Surrenders .. .. .. 14,604 17 8 Interest .. £267,165 3 4 Loans released by surrender.. .. 30,312 9 0 Less land and in- Commission, new* .. £17,880 811 come tax .. 16,838 19 0 . renewal 2,905 6 4 ~ 250,326 4 4 . 20,785 15 3 Expenses of management— Salaries— Head Office .. £15,695 19 4 Branoh offioes and agents .. .. 7,623 9 7 Extra clerioal assistance 1,668 14 3 Medioal fees and expenses .. .. 3,492 i 1 Travelling-expenses .. 704 14 2 Advertising .. .. 411 12 2 Printing and stationery 1,501 4 6 Bent .. .. 2,846 13 11 Postage and telegrams 1,780 11 10 Exohange .. .. 45 8 4 General expenses .. 2,385 010 Triennial expenses .. 783 7 0 38,939 0 0 Investment Fluctuation Reserve .. 99,704 0 0 Amount of funds, 31st December, 1917 5,199,320 1 0 £5,848,175 6 10 £5,848,175 6 10 Including Agents' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1917. Liabilities. Assets. _. . . . .. '~ w £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 780,976 2 0 dowment Funds (as per Revenue Government securitiesAooount) .. .. .. 5,199,320 1 0 Consolidated stock .. 625,900 0 0 Olaims admitted, proofs not yet com- ,_ „ n „ , Debentures issued P let «? U0 ' I under the District Annuities X ?? }l I Railways PurchasCommiss.on 11 16 8 ing Aot 1885 Ex . Medical fees .. .. .. 216 6 0 tension and AmendPremium and other deposits.. .. 2,847 10 3 ment Act 1886 .. 40,000 0 0 Fire-insurance moneys in suspense .. 600 0 0 Debentures issued Sundry accounts owing .. .. 279 0 0 under the authority Investment Fluctuation Reserve .. 288,825 6 1 of tho Finance Act 1915 .. ..' 40,000 0 0 War bonds issued under the authority of the Finance Act, 1916 .. .. 200,000 0 0 Inscribed stock authorized under the War Purposes Loan Act, 1917 .. .. 150,000 0 0 1,055,900 0 0 Munioipal Corporation debentures .. 117,238 18 2 County securities .. .. .. 9,126 19 11 Harbour Board debentures .. .. 36,900 0 0 Town Board debentures .. .. 25,450 0 0 Road Board debentures .. .. 18,500 0 0 Drainage Board debentures .. .. 2,061 1 4 Landed and house property .. .. 133,120 13 8 Landed and house property (leasehold) 1,776 12 0 Mortgages on property .. .. 3,141,294 4 8 Properties acquired by foreclosure .. 3,222 13 0 Overdue premiums on policies in force .. £4,977 3 5 Outstanding premiums due but not overdue.. 37,813 12 2 42,790 15 7 Overdue interest .. £2,302 18 0 Outstanding interest due but not overdue.. 8,590 12 9 Interest aoorued but not due .. .. 69,827 5 10 80,720 16 7 Agents'balances .. .. .. 3,329 13 11 Cash in hand and on ourrentaccount.. 150,462 0 0 £5,602,870 10 10 £5,602,870 10 10 Government Life Insurance Department, 16th April, 1918. J. H. Richardson, Commissioner. Audited and found correct. W. B. Hudson, Secretary. Robert J. Collins, Controller and Auditor-General.

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Statement of Business

TOTAL. Whole-life and Term Assurances. i YEAR 1917. Annual Sum Rever- Premiums. No - , assured. 1. Ordinary. Bonuses. ,, Extra Annuities. 1. Immediate. 2. Deferred. Annual Sum ' K ever- PremiumB. No- assure d. -J™* 1: ordinary. 2. Extra. Policios in force at 81st 53,208 December, 1916 NowBusineBS .. .. 2,929 POLICIES I SUED AND DISCON- £ £ £ s. d.' £ s. d. £ £ £ s. d. 12,874,754 1,384,618 f 374,791 19 7 | 9,087 17 10 I 22,228 5 4, 1 6,008 13 9 18,488 3 5 1 3,482 4 6f 1,042 16 0) 11 12 8 j 11,446 438 3,494,174 170,800 724,966 f 79,313 17 8 I \ 3,659 5 11 j I 4,335 17 7 I I 1,418 6 1/ 784,600 Total.. .. 56,137 13,659,354 1,384,618 j 397,020 4 11 I 15,096 11 7 19,530 19 5 I 3,493 17 2 f 11,884 3,664,974 724,966| f 83,649 15 3 ) 1 5,077 12 0 f Policies discontinued 3,079 during 1917 774,823 80,375 j 22,810 0 10 j 1,995 0 6 672 11 4 I 228 16 0 f 607 196,573 35,809 j 4,650 2 4 1 t 628 7 8 f Total Policies in force at 53,058 31st December, 1917 12,884,531 1,304,243 f 374,210 4 1 1 13,101 11 li 18,858 8 1 } 3,265 1 2 j 11,277 3,468,401! 689,157j f 78,999 12 11 ) \ 4,449 4 4/ How discontinued. PARTICULARS OF POLICIES DISCONBy Death .. .. 1,000 223,095 ( 7,111 12 81 I 960 10 9/ ( 5,010 6 21 1 11 6 9( f 3,068 5 4 \ 37 4 7j 778 12 4 316 94,817 27,526 f 2,348 0 7 1 ( 255 2 8 f 35,879 Maturity .. .. 644 128,290 27,857 Surrender .. ... 407 104,283 5,322 122 13 8 66 20,197 2,539 I 490 11 1 1 1 32 0 0 f Surrender of Bonus.. 2,935 2,032 Lapse .. .. 1,027 318,700 8,378 f 7,320 3 61 | 251 5 Of I 3 1 31 1 2 0 Of 66 111) 230 10 01 \ 732 13 5J 224 81,200 3,708 f 1,709 10 1 1 | 94 5 0 f J 3 1 31 ( 2 0 0 j 53 19 7 1 J 44~ 19 9 1 1 245 0 0 j Expiry of Policy .. 1 150 • • 1 150 Expiry of Premium.. Miscellaneous 305 i 0 14 209 1 Total 3,079 774,8231 80,375 | 22,810 0 10) 1 1,995 0 6] 901 7 4 607 196,573 35,809 f 4,650 2 4) 1 628 7 8 f prog: iess o: F BUSI :ness of T] se gove: ijNME 3NT LI! FE INS iURANCE 139,669 34,441,297 3,246,220 ( 1,049,183 15 10 ( 28,998 8 4 j 674,973 11 9 1 15,896 17 3 [96,106 13 : j73,983 4 i 8 E 43,649; 13,203,246' 1,824,685| 1 1343.786 18 01 1 15,233 16 8| 1264.787 5 li \\ 10,784 12 i] 'otal issued .. 'otal void 86,611 21,556,766 1,941,977 32,372 9,734,845! I |1,135,528 Total in force 53,058 22,123 9 3 11,277 : 3,468,401 689,157, 78,999 12 11 12,884,531 1,304,243 374,210 4 1 Extra Premiums Reduotion of Premiums by Bonus, & to. 13,101 11 1 65 14 i 4,449 4 4 55 10 2 £387,377 9 JJ £83,504 7 5 Note.—The Ordinary Premium is tin Wellington, 23rd February, 1918. premium charged

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at End of Year 1917.

ASSURANCES. SIMPLE ANNUITIES. ENDOWMENTS, Endowment Assurances. j Annuity Assurances. INVESTMENTS, ETC. Annual 1. Sum Annuities L 8uu J Annual „ Sum ! ? ever " Premiums. _ I Deferred Annual No Annual No a a Beyer- : assured. ! g 10 ""/ L Ordinary. I sionarv ! Anuuities - Premiums. ' Premiums. 2. immediate. ' sionary 1- Ordinary. 2. Extra. i Bonuses. I * Deferred. Bonuses. Extra, TINUED DURING THE YEAR 1917. £ £ £ 8. d. £ £ s. d. £ s. d. £ s. d. £ s. d. £ £ s. d. 39,592 9,060,723 657,477 (285,830 1 8) 67 / 15,672 ) 3,462 4 6 814 5 9 / 386 .. 18,488 3 5 ) 1,716 f 304,185 8,827 14 0} 1 5,428 11 11 I 1 1,993 f | 1 6 0 6 20 0 Of I 182 .. ) 2,125 544,800 .. (16,298 4 5 .. 50 11 12 8 2 19 0 31 .. 1,042 16 0) 335 ( 68,950 1,591 4 4) | 4,569 17 8 } { .. J { .. .. .. J t •• 20 10 0/ . _ . 41,717 9,605,523 657,477(302,128 6 111 67(15,722) 3,473 17 2 817 4 9 / 417 .. 19,530 19 5 ) 2,051 / 373,135 10,418 18 41; j 9,998 9 7 f|l t 1,993 J (1 6 0 6 20 0 0 J \ 182 20 10 0J 2,302 537,850 44,290(17,078 5 4 3 / 700 1 228 16 0 34 17 8 J 16 .. 672 11 4 1 1511 39,700 1,046 15 61 i 1,3511210) j 94} .. .. J 1 182 15 0^0 } 39,4159,067,673 613,187(285,050 0 91 64 / 15,022] 3,245 1 2 782 7 1 / 401 .. 18,858 8 1 1 1,900 / 333,435 9,372 2 10) | 8,646 16 9j I | 1,899 ] \ 1 6 0 6 20 0 0 J 1 5 10 0) TINUED DURING THE YEAR 1917. II 667 127,978 8,308 / 4,748 15 9 1 1 j 300 1 106 2 4 14 16 4 16 .. 672 10 0 1 705 8 1 J 1 45 ) 622 125,590 27,693 / 4,925 10 7) .. .. .. .. .. .. 22 / 2,700 84 15 7) 1 11 6 9 J | 164 .. j 239 54,636 2,716 1,730 1 10 2 / 400) 122 13 8 19 15 10 .. .. .. 100 j 29,050 827 16 7) | 2 9 7 } 1 49 f 1 18 2 15 Oj 903 774 229,550 4,670/ 5,491 111.. .. .. .. .. .. .. 29/ 7,950 119 12 4) \ 157 0 0 [ \ .... I .. .. .. .. .. .. .. | 12 2 41 96 .. j 182 16 1 ) .. .. 0 5 6.. .. 0 1 4.. .. / 2 8 81 { 475 8 5 } | 12 6 Of 2,302 537,850 44,290 (17,078 5 4 1 3 ( 700) 228 16 0 34 17 8 16 .. 672 11 4 151 I 39,700 1,046 15 61 { 1,351 12 10 ] { 94 J 1 182 15 0 of DEPARTMENT SINCE DATE OF ESTABLISHMENT TO 31st DECEMBER, 1917. 89,12320,452,8121,414,867 | 6 ° |j- 1106 57,387 1 8 8,454 1 6 850 348 0 10 38,719 12 0 4,941 j 627 '933 10 o| 49,70811,384,639. 801,180 |'097 4 11} 1042 436j ! 54 ' 142 0 67,671 14 5 448 342 0 4 19,841 3 11 3 ' 041 { 298 '833 "} 39,415 285,050 0 9 64 j ' 3,245 1 2 782 7 1 402 6 0 6 18,878 8 1 1,900 333,435 9,372 2 10 8,646 16 9 .. .. | .. .. .. .. .. .. 5 10 0 10 4 2 .. ; .. j £293,707 1 8 £9,377 1210 at the true age; the Extra, the additional premium imposed for any reason whatsoever. J. H. Richabdson, Commissioner. Pekcy Mutee, Actuary.

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GOVERNMENT INSURANCE DEPARTMENT.

STATEMENTS IN CONNECTION WITH THE VALUATION OF LIABILITIES (FOURTH AND FIFTH SCHEDULES) FOR THE TRIENNIUM ENDING 31st DECEMBER, 1917

Presented to both Houses of the General Assembly pursuant to Section 38 of the Government Life Insurance Act, 1908.

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REPORT BY THE ACTUARY RESPECTING THE VALUATION OF THE LIABILITIES UNDBB LIFE POLICIES ANT) ANNUITIES OF THE NEW ZEALAND (taernnmrt Jmmrmta jjprtmerrt, In terms of Section 36 of the Government Life Insurance Act, 1908. (See Fourth Schedule.) I. The date up to which the valuation was made was the 31st December, 1917. 11. The principles upon which the valuation and distribution of profits were made were as follows : — (1.) Principles of Valuation. —The valuation has been made upon a strictly "net premium " basis ; in other words, no credit whatever has been taken for any extra premiums or loadings, the net premiums alone having been valued for inclusion among the assets. The liability has been ascertained by taking the difference between the present value of the sums assured (including reversionary bonuses) and the present value of the net premiums (derived from the Institute of Actuaries H M Table with 3i per cent, interest). Where the original premiums have been reduced by the application of amounts received in consideration of the surrender of bonuses or former policies the present values of such reductions have been added to the liability. In all cases where an extra premium was payable the policy has been valued at the true age, and a full proportion has been reserved for the unexpired risk for which the extra premium had been paid. Adequate extra reserves have been made for limited-premium policies and the immediate payment of claims in the case of whole-life assurances, and allowance has been made for the actual incidence of the premium income. Reserves have been made for Deferred Annuities equivalent to the premiums paid accumulated at 4 per cent. Endowments have been valued as sums certain payable at

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10

FOURTH SCHEDULE.

the end of their respective terms, and mortality has only been taken into consideration where the premiums are payable during the joint lives of the child and purchaser, 3| per cent, compound, interest being used ; the surrender value has been taken as the minimum reserve. Annuities have been valued by the British Offices' Life Annuity Tables (1893), using 3 per cent, interest. In the case of annuity-assurances the value at age 60 of the annuity has been computed by the 1883 English Annuitants Experience and treated as an endowment payable at age 60, which has then been valued, in combination with the insurance portion of the contract, by the Institute H M Table, with 3i per cent, interest. The valuation has been made in duplicate, and the policies valued in groups where practicable. (2.) Principles of Distribution of Surplus. —The divisible surplus is distributed among the policyholders entitled to participate as a uniform reversionary bonus per cent, on sums assured and existing bonuses, for each premium paid since the last division; and an interim bonus is also paid, at the same rate, in respect of those policies which may be surrendered or become claims before the next distribution of surplus. The approximate profit from favourable mortality in the General Section and the Temperance Section respectively has been ascertained and specially divided among the members of the respective sections. The result is that temperance policies will, on this occasion, receive reversionary bonuses at the same rate as general policies which are like them in all other respects. The divisible surplus has been converted into reversionary bonuses by means of the H M Table of Mortality with 3-g- per cent, interest, the reversion for a continuous assurance having been used for whole-life policies. III. The Tables of Mortality used in the Valuation were, — (1.) For Assurances, the Institute of Actuaries H M (Healthy Males) Table ; (2.) For Annuities, British Offices' Life Annuity Tables (1893). IV. The rate of interest assumed in the valuation was 3*j per cent., except in the special cases mentioned in paragraph II (1), where a higher reserve was considered necessary. V. The whole of the loading, or the difference between the premiums payable to the office and the net premiums, amounting to J58,906 per annum and valued at .€682,041, has been reserved for future expenses and profits ; and in the case of limited-premium and paid-up policies, where the loading as well as the risk-premium is payable for a limited period only, a further reserve of £5,152 has been made to provide for expenses and profits when the premiums shall have ceased. VI. The Consolidated Revenue Account for the three years that have elapsed since the last valuation is given on page 11.

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FOURTH SCHEDULE.

CONSOLIDATED REVENUE ACCOUNT OF THE GOVERNMENT INSURANCE DEPARTMENT, Fob the Pebiod commencing Ist January, 1915, and ending 31st December, 1917. £ s. d. £ s. d. £ s. d. Amount of Funds on ist January, 1915 .. 5,033,883 19 o Death Claims under Policies, Renewal Premiums .. .. .. 1,050,081 6 0 Assurances, including Bonus New Premiums .. .. .. .. 79,468 15 9 Additions .. .. 721,565 5 o Single Premiums .. .. .. 4,804 8 10 Endowment Assurances maConsideration for Annuities granted .. 35,579 19 1 Hired, including Bonus AdInterest .. .. .. .. 774,482 i 2 ditions .. .. '.. 476,214 10 8 Endowments matured .. 10,322 13 o Premiums returned on Endowments .. .. .. 1,021 5 10 Bonuses surrendered for Cash 17,393 16 1 Annuities ... .. .. 56,421 11 7 Surrenders.. .. .. 49,186 16 4 Loans released by Surrender.. 107,093 3 5 1,439,219 1 11 Commission, New* .. .. 58,169 13 3 Renewal .. 8,41219 1 66,582 12 4 Land and Income Tax .. .. 49,013 2 7 . Expenses of Management— Salaries, Head Office .. 50,637 13 10 •„ Branch Offices and Agents.. .. 23,736 6 5 Extra Clerical Assistance .. 3,331 9 3 Medical Fees and Expenses 12,635 8 Travelling-expenses .. 1,685 5 z Advertising .. .. 1,556 4 2 Printing and Stationery .. 4,089 7 9 Rent .. .. .. 8,750 19 4 Postage and Telegrams .. 5,433 12 10 Exchange .. .. 179 14 o Office Furniture Depreciation 270 9 6 General Expenses .. 6,970 o 5 Triennial Expenses .. 3,136 9 7 Compensation .. .. 2,048 1 2 124,461 12 o Investment Reserve Fund .. .. 99,704 o 0 Amount of Funds on 31st December, 1917 .. .. .. .. 5,199,320 1 o 10 £6,978,300 9 10 * Including Agents' allowances VALUATION BALANCE-SHEET OF THE GOVERNMENT INSURANCE DEPARTMENT, As at 31st December, 1917, Dr. £ s. d. Cr. £ s. d. To Net value of Liabilities (as per Valuation By Accumulated Funds (as per Consolidated Summary) .. .. .. .. 4,982,608 o o Revenue Account) .. .. .. 5, 1 99,320 1 0 To Surplus .. .. .. .. 216,712 1 o £5,199,32° 1 ° £5,i99i320 1 o

£ s. d. £ s. d. £ s. d. Amount of Funas on ist January, 1915 .. 5,033,883 19 ° Death Claims unaer Policies, Renewal Premiums .. .. .. 1,050,081 6 0 Assurances, including Bonus New Premiums .. .. .. .. 79,468 15 9 Additions .. .. 721,565 5 o Single Premiums .. .. .. 4,804 8 10 Endowment Assurances maConsideration for Annuities granted .. 35.579 19 1 tured, including Bonus AdInterest .. .. .. .. 774,482 I 2 ditions .. .. '.. 476,214 10 8 Endowments matured .. 10,322 13 o Premiums returned on Endowments .. .. .. 1,021 5 10 Bonuses surrendered for Cash 17,393 16 1 Annuities ... .. .. 56,421 n 7 Surrenders.. .. .. 49,186 16 4 Loans released by Surrender.. 107,093 3 5 1,439,219 1 11 Commission, New* .. .. 58,169 13 3 Renewal .. 8,41219 1 66,582 12 4 Land and Income Tax .. .. 49,013 2 7 . Expenses of Management— Salaries, Head Office .. 50,637 13 10 •„ Branch Offices and Agents.. .. 23,736 6 5 Extra Clerical Assistance .. 3,331 9 3 Medical Fees and Expenses 12,635 J 8 8 Travelling-expenses .. 1,685 5 z Advertising .. .. 1,556 4 2 Printing and Stationery .. 4,089 7 9 Rent .. .. .. 8,750 19 4 Postage and Telegrams .. 5,433 12 10 Exchange .. .. 179 14 o Office Furniture Depreciation 270 9 6 General Expenses .. 6,970 o 5 Triennial Expenses .. 3,136 9 7 Compensation .. .. 2,048 1 2 124,461 12 o Investment Reserve Fund .. .. 99,704 o 0 Amount of Funds on 31st December, 1917 .. .. .. .. 5,199,320 1 o 10 £6,978,300 9 10 "-Including Agents' allowances VALUATION BALANCE-SHEET OF THE GOVEENMENT INSUBANOE DEPARTMENT, As at 31st December, 1917, Dr. £ s. d. Cr. £ s. d. To Net value of Liabilities (as per Valuation By Accumulated Funds (as per Consolidated Summary) .. .. .. .. 4,982,608 o o Revenue Account) .. .. .. 5,199,320 1 0 To Surplus .. .. .. .. 216,712 1 o £5,199,320 1 o £5|J99,320 1 o

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FOURTH SCHEDULE.

Summary and Valuation of the Policies of the New Zealand Government Life Insurance Department as at 31st December, 1917.

Pakticulaks op Policies for Valuation". (Assurances : En Table, 3| % Interest. Values - Annuities: British Offices Annuity Tables, 1893, I 3 % Interest. DESCRIPTION OF TRANSACTIONS. Number ofi Sums assured Policies, j and Bonuses. Office Yearly Net Premiums. Premiums. Sums assured and Bonuses. Office Yearly i Net Premiums. j Premiums. Net Liability. ASSURANCES. I.—With Participation in Profits. Whole-life Assurances —Uniform Premiums „ Limited, Single, and Commuted Premiums Endowment Assurances —Uniform Premiums .. „ Limited, Single, and Commuted Premiums „ With extra Profits Double Endowment Assurances —Uniform Premiums „ „ Limited, Single, and Commuted Premiums Deferred Endowment Assurances, with return of Premiums Joint Life —Whole-life .Assurances Survivorship Assurances 7,841 514 27,374 250 115 11,263 £ 2,822,653 285,916 6,414,384 85,371 25.173 3,049,087 £ £ 53,141 44,962 257 210 198,003 161,970 2,011 1,602 1,051 889 80,761 68,278 258 212 284 226 8 5 £ \ 1.863,512 206.476 j 4,028,439 45,250 15,623 1,472,753 2.110 690 4,056 83 £ £ 499,164 414,581 963 780 2,081,971 1,680,342 17,438 13,661 14,428 12,176 1,004,302 839,446 £ 1,448,931 205,696 2,348,097 31,589 3 447 633,307 26 54 17 2 3,245 13,750 7,054 579 f 16,922 \ and deferred ' annuity, £3,245 1 3,383 2,689 68 | 45 2,110 690 1,367 38 Annuity Assurances 64 782 720 22,255 7,045 6,513 15,742 3,548 Reserve for extra Premiums .. 3,548 Additional Reserve of Loading .. 336,556 279,074 2,970,233 .. Deduct 5,152 4,694,562 Add 5,152 •• Total .Assurances with Profits 47,520 12,724,134 7,664,795 3,62.8,762 2,965,081 4,699,714 II.—Without Participation in Profits. Whole-life Assurances —Uniform Premiums .. ,, Limited, Single, and Commuted Premiums Endowment Assurances —Uniform Premiums .. „ Limited, Single, and Commuted Premiums Deferred Whole-life Assurances, with return of Premiums Deferred Endowment Assurances, „ ,, Joint Life —Whole-life Assurances Survivorship Assurances Industrial Assurances Temporary Assurances Total .Assurances without Profits Total Assurances ... 2,865 21 386 1 57 448 2 4 3 11 1.027,455 6,850 103,300 300 25.850 90,400 1,100 4,000 60 1.950 24,942 23,789 225 218 3,223 2,929 197 177 1,411 1,252 49' 44 64 53 31 433,439 2,933 52,846 206 596 4,178 633 357 30 12 397,614 2,201 46,185 "596 320 378,537 2,136 41.933 •• 54,902 797 10,913 206 596 4,178 98 94 30 12 535 263 •• 3,798 1,261.265 30,143 I 28,462 495,230 446.916 423,404 71,826 51,318 13,985,399 366,699 | 307,536 S,160,025 4,075,678 3,388,485 4,771,540 I ENDOWMENTS. Simple Endowments, with return of Premiums Endowments —Premiums cease on death of Purchaser j 991 347 159,025 44,350 5,728 1,777 5,058 1,580 i 42.853 14,093 42,853 14,093 Total Endowments .. 1,338 203.375 7,505 6,638 56.946 56,946 • ANNUITIES. (Per annum.) 18,858 20 6 Immediate Deferred 401 1 153,935 187 153,935 187 Total Annuities .. .. .. 402 18.878 154,122 154,122 Total of the Results 53,058 14,188.774 374,210 \ 314,174 and £22,123 per | and £13,102 j annum. extra premium! (not valued), i 8,371,093 4,075 678 3,388,425 4,982,608 •

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13

FOURTH SCHEDULE. VII. 1. The liabilities of the Department under life policies and annuities at the date of the valuation, showing the number of policies, the amount assured, and the amount of premiums payable annually under each class of policies, both with and without participation in profits, will be found in detail in the Valuation .Summary, given on page 12. 2. The net liabilities and assets of the Department, with the amount of surplus, are shown in the Valuation Balance-sheet given on page 11. VIII. All participating policies which were in force at the date of the valuation, however recently effected, share in the profits. The reversionary bonuses allotted to policies recently issued follow the sum assured— i.e., they vest immediately, and are payable with the sum assured as a claim, however short the duration; but they do not acquire a cash value for surrender purposes until the policies to which they belong have been two years in existence. IX. The results of the valuation are as follows :— (1.) The total amount of profit made by the Department during the three years ending the 31st December, 1917, including a balance of .€117,056 19s. Od. carried forward three years ago on the basis of a 3J per cent, valuation for assurances, was £236,482 10s. od. ; of which amount £19,770 9s. Od. has been paid as interim bonuses during the triennium. (2.) The amount of profit divided among the policyholders as at the 31st December, 1917, was £205,291 which has been converted into reversionary bonuses amounting to £322,090. The number of policies which participated was 47,520, assuring the sum of £11,419,896, or, including reversionary additions, £12,724,134. (3.) The following are specimens of the bonuses which have been allotted, for the three years ending the 31st December, 1917, to policies for £100 upon which all previously allotted bonuses had been allowed to remain : —

Whole Life.

The ' cash values of the reversionary bonuses are computed by the " H M Table of Mortality, with interest at 4\ per cent. PERCY MUTER, 16th August, 1918. Actuary.

Number of Years in Force. AGE A 1 Hevorsionai Bonus. AGE AT 2l ENTEY, ). AGE AT ENTEY, 30. AGE AT ENTEY, 40. AGE AT ENTEY, en Number °°- of Years in Reversionary Cash Force. Bonus. Value. Reversionary Bonus. Cash Value. Revorsionary Bonus. Cash Value, Revorsionary Bonus. Cash Value. injixua. 20 25 30 35 £ «• d. 3 11 o 3 15 ° 420 480 £ s. d. £ s. d. 143 3 11 o 19 5 3 15 o 1 16 3 400 240 43° £ 1. d. in 5 1 17 6 2 5 4 2 12 2 £ s. d. £ s. d. £ s. d. 3110 203 3 11 o 3 14 o 267 3 14 o 3 19 o 2 14 8 3 18 o 430 327 430 £ s. d. 292 2 15 10 329 3 10 3 20 25 30 35 Bndowmen ASSURAN' IE, —Term 20 Years. 1 16 1 5 10 15 20 5 10 15 20 310 350 380 3 11 o 1 1 1 1 1 12 10 310 229 35° 2 14 8 380 3 11 o 3 11 o 1 13 4 2 3 1 2 14 11 3 11 0 310 1140 310 350 242 350 380 2 15 3 380 3 11 o 3 11 o 3 11 o 2 5 1 2 15 10 3 11 0

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15

HEP O H T BY THE In terms of Section 37 of the Government Life Insurance Act, 1908. (See Fifth Schedule.)

STATEMENT OF THE LIFE ASSURANCE AND ANNUITY BUSINESS OF THE GOVERNMENT INSURANCE DEPARTMENT ON THE 81ST DECEMBER 1917.

Question 1. —The published table or tables of premiums which are in use at the date above mentioned. Answer. —The tables of premiums in use are contained in Appendix No. 1. Question 2.—The total amount assured on lives for the whole term of life which are in existence at the date above mentioned, distinguishing the portions assured with and without profits, stating separately the total reversionary bonuses, and specifying the sums assured for each year of life, from the youngest to the oldest ages. Question 3.—The amount of premiums receivable annually for each year of life, after deducting the abatements made by the application of bonuses in respect of the respective assurances mentioned under heading No. 2, distinguishing ordinary from extra premiums. Answer to Questions 2 and 3.—This information is contained in Appendices Nos. 2, 8, and 9, and similar information in respect of other policies is given in Appendices Nos. 3, 4, 5, 6, 7, 10, and 11.

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FIFTH SCHEDULE. Question 4.—The total amount assured under classes of assurance business other than for the whole term of life, distinguishing the sums assured under each class, and stating separately the amount assured, with and without profits, and the total amount of reversionary bonuses. Question- 5. —The amount of premiums receivable annually in respect of each such special * class of assurances mentioned under heading No. 4, distinguishing ordinary from extra premiums. Question 0. —The total amount of premiums which has been received from the commencement upon all policies under each special class mentioned under heading No. 4, which are in force at the date above mentioned. Answers to Questions 4, 5, and 6 are contained in the following table : —

Question 7. —The total amount of immediate annuities on lives, distinguishing the amounts for each year of life.

Annual 'kemiums. Class of Assurance, u CD SI g-o Sums assured. Reversionary Bonuses. Total Ordinary Premiums received. Ordinary. Extra. With Profits. £ s. d. £ «■ d. £ -■ d. £ s. d. £ *• d. Endowment Assurances 23,508 4,7°4,434 o ° 462,040 19 o 164,450 12 6 4,167 15 4 1,954,427 ° 3 Long-term Endowment Assurances 4,116 i,255,7 0 7 o o 77,572 19 o 35,573 l8 2 i,554 3 5 3!4,235 5 5 Double-endowment Assurances 11,289 2,979,582 o o 72,750 2 O 80,760 14 11 2,816 C 10 599,281 10 0 Endowment Assurances with extra profits 115 24,350 o o 823 I O 1,051 5 8 7 10 o 4,719 14 o Deferred Endowment Assurances with extra profits 54 13,750 o o 257 13 5 755 10 1 Joint-life Assurances 17 6,700 o o 353 19 o 283 13 2 7 15 o 2,344 7 5 Survivorship Assurances 2 54° ° o 39 5 o 8 4 7 102 18 10 Annuity Assurances 64 15,022 o o* 1,899 11 o 782 7 it 12,292 2 2t Endowments: With return 97i 156,525 o o 5,655 2 9 36,135 11 6 Endowments: Premiums ceasing on death of purchaser 347 44,350 o o 1,776 11 1 5 10 0 14,322 13 3 Without Profits. 103,600 o o 3,223 8 101 1 2 13,537 IO 3 Endowment Assurances 387 Joint-life Assurances m 1,100 o o 191 17 8 2 49 10 4 Survivorship Assurances 4 4, 000 o o 63 11 8 317 18 4 Deferred Endowment Assurances 448 90,400 o o 1,410 14 1 4,259 14 8 Endowments: With return 20 2,500 O O 73 5 9 1,464 n 9 Industrial Assurances 3 60 o o 160 45 9 11 Temporary Assurances II 1,950 o o 3° 15 9 54 o 0 103 12 o Totals £8,714 1 9 £2,958,537 7 6 41,358 £9,404,570 0 0 ;£615,479 16 0 £295,453 0 7 * And defer: t These ami ■ed annuities for £3,245 is. mnts are also given under " id. Deferred Annuit: ies " in answer to Question 8.

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FIFTH SCHEDULE.

ANSWER TO QUESTION 7. Total Amount of Immediate Annuities on Lives, distinguishing the Sex, and the Amounts for each Year of Life.

3—H. 8.

17

Age attained. Amount of Annuities. Female, Male. 32 33 41 43 44 46 47 49 5o 5i 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 91 94 £ s. d. 52 o o 44 5 o 6 10 o 25 16 8 no o o £ 8. d. no 17 o 152 o o 133 2 4 100 o o 90 10 o 98 8 4 428 1 10 48 17 8 65 16 8 182 o o 539 1 2 23 10 6 277 7 2 161 1 o 135 9 2 374 18 8 106 1 6 10 o o 73 9 4 29 3 4 30 18 4 32 7 8 120 o o 600 112 4 o 18 4 0 38 17 10 282 17 4 85 15 o 101 5 8 80 12 o 101 10 o 292 14 2 80 2 IO 80 18 8 171 12 8 385 9 4 34 11 8 370 10 4 120 14 o 410 2 6 145 17 8 390 o 4 57 5 8 65 1 8 245 15 o 233 17 8 96 8 o 51 8 10 1,384 16 o 337 l6 6 284 18 4 597 19 o 52 o o 305 18 8 488 7 6 320 8 4 493 11 4 856 9 8 445 17 2 438 14 6 471 16 9 560 15 2 215 19 o 326 5 4 667 1 10 56 1 3 518 11 o 100 11 4 92 3 9 240 10 4 22 8 8 259 19 2 52 15 o 151 10 4 155 13 4 300 o o • 50 o o Totals .. £5,366 2 10 £12,505 6 7 Ages attained. Joint and Survivorship. i Female. Male. Amount of Annuity. 57-54 69-65 71-70 73-67 76-69 78-69 82-80 84-80 90-75 I I 1 I 2 2 1 I 2 2 3 3 3 3 1 I 2 2 £ B. d. io o o 200 O O 152 19 4 75 o 0 112 4 o 113 1 8 88 3 o 193 1 o 42 9 8 Totals .. 16 16 £986 18 8 £986 18 8 16

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FIFTH SCHEDULE. Question 8. —The amount of all annuities other than those specified under heading No. 7, distinguishing the amount of annuities payable under each class, the amount of premiums annually receivable, and the amount of consideration-money received in respect of each such class, and the total amount of premiums received from the commencement upon all deferred annuities.

ANSWER TO QUESTION 8. The Amounts of all Annuities other than those specified under Heading No. 7.

Question 9.—The average rate of interest at which the funds of the Department were invested at the close of each year during the period since the last investigation. Answer. —The average rate of interest at which the mean funds of the Department were invested for each year of the triennium, after deducting land and income tax, was as follows: —• £ s. d. 1915 ... ... ... 4 11 1 1916 ... ... ... 4 15 1 1917 ... ... ... 4 16 3 Question 10. —A table of minimum values, if any, allowed for the surrender of policies for the whole term of life, and for endowments and endowment assurances; or a statement of the method pursued in calculating such surrender values, with instances of its application to policies of different standing, and taken out at various interval ages, from the youngest to the eldest. Answer. —The minimum surrender values for whole-life and endowment assurance policies issued at the present rates of premium arc given in Appendix No. 12. In the case of simple endowments, with return of all premiums at death of nominee, the premiums are returned without interest, as surrender value. Other endowments and children's deferred assurances are treated specially.

Amount of Annuities. Annual Premiums. Single Premiums. Total Premiums received to 31st December, 1917. Class of Annuity. I Deferred (Premiums returnable) £ s. d. .. I 20 o o £ s. d. 606 £ Is- d. £ s. d. 120 10 o Deferred (Annuity Assurances)* •• I 1,435 14 2 383 1 o (So 3 o 5,852 16 10J Deferred (Annuity Assurances)! .. i 1,809 7 o 399 6 1 6,359 2 4 { Totals .. £3,265 1 2 £788 7 7 £80 3 0 £12,332 9 2 * And temporary assurances for £7,948. juestions 5 and 6. t And whole-life assurance: i for £7,074. X These amounts are also given in answer t<

19

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FIFTH SCHEDULE.

Question 11.—A statement to be furnished of the manner in which policies on unhealthy lives are dealt with. Answer. —When proposals are made on lives which, although not of such inferior quality as to merit total rejection, are considered not to reach the requisite standard for insurance at the ordinary rates of' premium, such proposals are accepted at increased rates. Great refinement is not attempted in the assessment of lives, proposals being as a rule either accepted at par, with an extra premium of 10s. per cent, of the sum assured, an extra of 20s. per cent., or declined. The alternative of a fixed contingent debt in lieu of extra premium, if not remissible, is always offered. The true age is taken as the basis of surrender calculations, except in the cases of paid-up policies, the surrender values of which are calculated at the rated-up ages. The Appendices alluded to above have been compiled under the immediate supervision of Mr. Percy Muter, F.1.A., the Actuary to the Department. J. H. RICHARDSON, Government Insurance Commissioner. 16th August. 1918.

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FIFTH

Appendix No. 1.

Class of Assurance, with Participation in Profits. Ago 15. Age 18. Age 17. Age nearest Birthday. Age Age Age Ago IB. IS). 30. 21. Ago Age Ago aa. 28, 34. ui jDu. S .c "I D.ti 3 01 SI 6-° « u 0 u &, -u 01 00 c 01 oi A ! Annual premium during the whole term B s | Single payments £ •• d. 1 11 3 £ i. d. 1 12 2 £ s. d. 1 13 1 £ : d. 1 14 o 1 14.10 \£ a. A. £ s." d. 1 15 7| 1 lG 5 33 12 0J34 3 o £ s. d. £ a..A. £ s. d. 1 17 2 1 18 o 1 18 11 30 7 o 31 1 o 31 15 o 32 8 o 33 o o 34 14 035 5 035 17 o Annual premiums,— B io Limited to io years .. B15! . 15 . B 20 j „ 20 B 25 „ 25 „ B 30 „ 30 B 35 ,i 35 . 4 1 8 2 19 9 2 9 1 2 2 11 4 3 6 3 1 1 2 IO 3 2 3 ii 1 19 11 1 17 2 4 54 3 2 6 2114 4 7 1 3 3 9 2 12 5 2 511 2 1 9 4 8 7 3 4 » 2 13 5 269 2 2 7 1 19 9 4 9 IO; 4 II 4 3 5 1 1 3 7 o 2 14 2 2 15 2 276284 233240 205212 4 12 6 4 13 10 4 15 4 3 7 10 3 8 IO 3 10 o 2 15 11 2 16 9 2 17 8 2 9 o 2 9 9 2 10 8 248254262 219226233 111) 0 I l6 4 2 4.11 2 o 10 1 18 1 1 19 o i_ Annual Premiums, — Payable for 10 years .. 9 9 1 8 10 3 7 '4 8 716 6 10 3 9 II 6 9 11 7 8 12 7 8 12 g 7 16 11 7 17 o 7 3 87 3 10 612 4612 6 TJ 01 a u •a a a u 01 11 £ ■g c 01 01 ■3 - Z 2 5 's o !ta if rt gTj u ti VI ro H ° I 0) u q ■< a 01 § o TJ c W i, 11 1, ,, 12 „ 9 9 8 8 10 10 7 15 2 720 6 IO 9 9 10 4 8 11 5 7 15 9 727 6 11 4 9 10 11 8 12 o 7 16 3 7 3 1 6 11 9 9 11 3 8 12 4 7 16 8 7 3 5 6 12 2 9 11 6 8 12 7 7 16 11 7 3 8 6 12 4 9 11 8 8 12 9 7 17 1 7 3 11 6 12 7 9 11 9 8 12 10 7 17 2 7 4 0 6 12 8 9 11 10 8 12 11 7 17 4 7 4 1 6 12 10 13 „ 14 15 1, 16 „ 17 » 18 „ 19 „ 606 5 12 1 5 4 8 4 18 1 4 12 3 610 5 12 7 5 5 2 4 18 7 4 12 9 617 5 13 1 5 5 8 4 19 1 4 13 3 620 5 13 7 562 4 19 7 4 13 9 625 5 13 11 566 4 19 11 4 '4 1 628629 5 14 2 5 14 4 5 6 95 6 11 502504 4 14 4 4 14 6 628 5 14 2 569 502 4 14 4 6 2 11 5 14 5 5 7 0 506 4 14 8 630 5 14 7 5 7 2 507 4 14 10 632 5 14 9 5 7 4 5 o 10 4 15 o 20 21 „ 22 23 „ 24 „ .. 4 7 1 •125 3 t8 2 3 14 4 3 10 11 4 7 7 4 2 11 3 18 8 3 14 10 3 11 4 481 4 3 5 3 19 2 3 15 4 3 11 10 4 8 6 4 3 10 3 19 7 3 15 9 3 I 2 4 4 8 10 442 400 3 16 2 3 12 8 4 9 14 9 4 4 4 5 4 4 8 403405 3 16 5 3 16 7 3 12 11 3 13 2 4 9 1 4 4 5 403 3 16 5 3 12 11 4 9 6 4 4 10 407 3 16 10 3 13 4 4 9 8 4 5 0 409 3 17 o 3 13 6 4 9 10 4 5 2 410 3 17 2 3 13 9 C . 2 5 . .. 26 „ .. 27 „ .. 28 „ 29 „ c 3 7 8 3 4 10 3 2 2 2 19 9 2 17 6 3 8 2 3 5 4 3 2 8 303 2 18 o 3 8 8 3 5 10 3 3 2 308 2 18 6 3 9 2 3 6 3 3 3 7 3 1 2 2 18 11 3 9 6 367 3 4° 316 2 19 4 3 9 9 3 10 o 3 6 11 3 7 1 3 4 3 3 4 6 3 1 10 3 2 1 2 19 7 2 19 10 3 9 9 3 6 11 3 4 .3 3 1 10 2 19 7 3 10 2 3 7 4 3 4 8 324 3 o 1 3 10 5 3 7 7 3 4" 326 304 3 10 8 3 7 10 3 5 2 3 2 10 3 o 8 30 „ 31 » 32 . 33 » 34 a ■■ 2 15 5 2 13 6 2 11 9 2 10 1 287 2 15 11 2 14 o 2 12 3 2 IO 7 2 9 I 2 16 5 2 14 6 2129 2 II I 297 2 16 10 2 14 11 2 13 2 211 7 2 IO I 2 17 3 2 15 4 2 13 7 2 12 o 2 IO 6 2 17 7 2 17 10 2 15 8 2 15 11 2 13 11 2 14 2 2 12 4 2 12 7 2 10 IO 2 II I 2 17 7 2 15 8 2 13 11 2 12 4 2 10 10 2 18 1 2 16 2 2 14 6 2 12 10 2 18 4 2, 16 6 2 14 9 2 13 2 2 11 9 2 18 8 2 16 9 2 15 1 2 13 6 2 12 1 2 11 5 35 . 36 „ .. 37 » 38 „ .. 39 a ■■ 40 . .. 2 7 2 2 5 10 2 4 7 236 225 2 1 5 278 264 2 5 I 24O 2 2 II 2 2 0 282 2 6 IO 2 5 8 2 4 6 236 226 288 2 7 4 2 6 2 2 9 I 279 267 256 246 236 2 9 5 2 9 9 282286 270274 2 5 IO 2 6 3 2 4 10 2 5 3 2 3 II 2 4 4 295 282 270 2 5 10 2 4 10 2 3 11 2 10 1 2 8 10 278 267 2 5 7 248 2 10 5 292 280 2 6 11 260 2 5 1 2 10 9 296 285 274 265 257 250 240 2 3 1

21

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SCHEDULE.

THE PUBLISHED TABLES OF PREMIUMS Which were in Use on the 31st December, 1917.

Age ne )arest Birt thday. Age Age ;,;>. 34. Ago Age : J ,6. Age 37. Age Age 25. 26. Age Age 37. 38. Age 29. Age 30. Age 31. . Age 33. £ a. d. £ s. d. 1 19 n 2 on £ a. d. £ s. d. 220231 £ s. d. 243 £ s. d. 2 5 5 £ s. d. 268 £ s. d. 280 £ s. d. £ s. d. 2 9 4 2 10 10 / s. d. 1 2 12 4 £ s. d. 2 14 o £ s. d. 2 15 8 A A Bs 36 10 037 3 o 37 16 038 10 o 39 4 ° 39 19 o 40 13 o 41 8 o 42 4 042 19 o 143 16 o. 44 12 o 45 9 o Bs B 10 B15 B 20 B25 B30 B35 4 17 0.418 7 3 11 3 3 12 5 2 18 9 2 19 g 2 11 7 2 12 6 27 1280 242250 5 o 3 5 1 11 3 13 9 3 15 0 3 0 10 3 1 n 2 13 6 2 14 6 2 8 11 2 9 10 2 6 02 6 11 5 3 8 3 16 4 3 3 1 2 15 7 2 10 n 5 5 4 3 17 7 3 4 2 2 16 7 2 11 10 2 8 11 5 7 2 3 19 o 3 5 4 2 17 8 2 12 11 2 IO O 5 9 ' 405 3 6 8 2 18 IO 2 14 I 2 II I 5 10 11 5 13 o 4 1 10 4 3 5 3 7 10 3 9 3 300314 2 15 2 2 16 6 2 12 3 2 13 7 > 5 15 o i 4 5 o I 3 10 7 1 3 2 7 1 2 17 9 ' 2 14 10 5 17 2 4 6 8 3 12 2 340 2 19 2 2 16 3 5 19 3 4 8 4 3 13 7 3 5 4 307 2 17 9 B 10 B15 B20 B25 B30 B35 2 7 11 Term of Years. IO ' 9 13 3 9 13 6 8 14 5 8 14 8 7 18 10 7 19 1 7 5 87 5 11 6 14 6 6 14 9 Term of Years. 11 12 13 14 9 12 o 9 12 3 8 13 1 8 13 4 7 17 6 7 17 9 7 4 4: 7 4 6 6 13 1 6 13 4 9 12 6 8 13 7 7 18 o 7 4 10 6 13 7 9 12 9 8 i 3 ii 7 18 3 7 5 i 6 13 11 9 1.3 o 8 14 2 7 18 6 7 5 5 6 14 2 9 13 9 8 15 o 7 19 4 763 6 15 1 9 14 o 9 14 4 8 15 3 8 15 7 7 19 8 8 o o 7 6 67 6 11 6 15 5 6 15 9 9 14 o 8 15 3 7 19 8 766 6 15 5 9 14 4 8 15 7 800 7 6 11 6 15 9 I 9 14 8 ' 8 15 11 1804 7 7 3 ) 6 16 I 9 15 o 8 16 3 809 7 7 8 ! 6 16 6 ! 9 15 4 8 16 7 8 1 1 7 8 1 6 16 11 10 11 12 13 14 15 16 17 18 635638 5 M 11 5 15 3 5 7 7 5 7 10 5 1 1 5 1 4 4 15 3 4 15 6 6 3 11 5 15 6 5 8 2 5 1 8 4 15 10 6 4 3 5 15 10 5 8 5 5 1 11 4 16 2 646 5 16 1 5 8 9 5 2 3 4 16 6 6 4 10 6 5 1! 5 16 5! 5 16 gj 5 9 15 9 5 5 2 75 2 11 4 16 10 4 17 2 6 5 5 5 17 1 5 9 9 5 3 3 4 17 7 65966 1 5 17 5 5 17 10 5 10 1 5 10 6 538541 4 18 o 4 18 5 6 5 9 5 17 5 5 10 1 5 3 8 4 18 o 6 6 1 5 17 10 5 10 6 5 4 1 4 18 5 6 6 6 > 5 18 3 > 5 10 11 5 4 7 ; 4 18 11 6 6 11 5 18 8 5 11 5 5 5 1 4 19 5 6 7 5 5 19 2 5 11 11 5 5 7 500 15 16 17 18 19 19 20 21 22 4 10 1 4 10 5 4 5 5 4 5 9 4 1 3 4 1 7 3 17 63 17 10 3 14 ij 3 14 5 4 10 8 461 4 1 11 3 18 2 3 14 9 411 0 465 423 3 18 6 3 15 2 4 11 5 4 6 9 428 3 18 11 3 15 7 4 11 9 4 12 1 1472476 430435 3 19 4 3 19 9 3 16 o 3 16 5 4 12 6 4 7 11 4 3 10 402 3 16 10 4 12 11 4 13 5 4 8 54 8 10 4 4 4 4 4 10 4084 I 2 3 17 4 3 17 11 4 12 11 4 8 5 4 4 4 408 3 17 4 4 13 5 4 8 10 4 4 10 412 3 17 11 i 4 13 11 » 4 9 5 '454 1419 3 18 6 4 14. 5 4 9 11 4 5 11 424 3 19 2 4 15 o 4 10 7 467 4 3 0 3 19 10 20 21 22 23 24 23 24 25 26 27 28 3 10 11 3 11 4 381386 3 5 6 ; 3 5 11 332336 3 1 o 3 1 5 3 n 8 3 8 10 364 3 3 11 3 1 10 3 12 1 3 9 3 369 3 4 5 323 3 12 6 3 9 8 3 7 2 3 4 10 329 • 3 12 II 3 13 4 3 10 21 3 10 7 378382 3 5 4! 3 5 10 3 3 3 3 3 9 3 13 io 3 11 2 388 365 3 4 4 3 14 4 3 14 11 3 11 8 3 12 3 3 9 3 3 9 10 370378 350358 3 14 4 3 11 8 3 9 3 3 7 0 3 5 0 3 14 11 3 12 3 3 9 10 3 7 8 3 5 8 3 15 7 I 3 12 11 1 3 10 6 I 3 8 4 3 16 3 3 13 8 3 11 3 3 9 2 '372 3 17 o 3 14 5 3 12 1 3 9 11 3 8 1 25 26 27 28 29 29 30 31 32 33 34 2 19 o; 2 19 5 2 17 2 2 17 7 215 6 215 11 2 13 II 2 14 5 2 12 6 2 13 O 2 II 2 2 II 8 2 IO O 2 IO 6 2 8 II, 2 9 5 2 7 IO 2 8 5 2 6 II 2 7 6 2 6 12 6 8 2 19 10 2 18 1 2 16 5 2 14 11 2 13 6 304 2 18 6 2 16 11 2 15 5 2 14 0 3 o 10 2 19 1 2 17 5 2 16 o 2 14 7 3 1 4 3 1 11 2 19 73 o 2 2 18 0 2 18 7 2 16 7 2 17 2 2 15 3 2 15 11 326 3 o 10 2 19 3 2 17 10 2 16 7 3 3 2 3 3 10 316323 300309 2 18 7 2 19 5 2 17 4 2 18 2 3 3 2 3 1 6 3 0 0 2 18 7 2 17 4 3 3 10 323 309 2 19 5 2 18 2 '347 13 3° '317 1303 . 2 19 I 3 5 6 3 3 11 326 3 1 3 3 o 1 364 3 4 10 3 3 6 323 3 1 2 30 31 32 33 34 35 36 37 38 39 40 2 12 3 2 11 1 2 IO O 290 2 8 I 2 12 9 2 11 8 2107 298 289 280 2 13 5 2 12 3 2 II 3 2 10 4 296 288 2 14 o 2 14 8 2 12 11 2 13 8 2 11 11 2 12 8 2 11 o 2 11 9 2 10 2 2 11 o 2 9 6 2 10 3 2 15 5 2 14 5 2 13 5 2 12 7 2 11 10 2 11 2 2 16 3 2 17 1 2 15 3 2 16 1 2 14 4 2 15 3 2 13 6 2 14 6 2 12 9 2 13 9 2 12 1 2 13 2 2 16 3 2 15 3 2 14 4 2 13 6 2 12 9 2 12 1 2 17 1 2 16 1 2 15 3 2 14 6 2 13 9 2 13 2 2 18 I 2 17 I , 2 16 3 1 2 15 6 I 2 14 IO 2 14 3 2 19 I 2 18 2 2 17 4 2 16 8 2 16 0 2 15 6 302 2 19 3 2 18 6 35 36 37 38 39 40 2 17 10 2 17 3 2 16 9 274

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FIFTH

Appendix No. 1—continued.

Age nearest Birthda., Class of Assurance, with Participation in Profits. Age 38. Age Age 39. 40. Age 42. Age 46. Age 47. Age Age 40. 41. Age 43. Age 44. Ago 45. 0 % u IjJ-S, A Annual premium during tfi S whole term c B s Single payments § Annual premiums,— «j o -5 B 10 Limited to 10 years .. g J 5 ■ J 5 - •• 01 . B 20 „ 20 „ §£c? B25 „ 25 „ .. Vjo ,1 30 1, •■ oS« B35 „ 35 a U £ S. d. 2 17 5 £ s. d. £ s. d. 2 19 3 3 1 3 47 4 o 48 2 o £ s. d. £ s. d. 3 13 3 3 4 £ B. d. 3 5 7 £ s - d. 3 7 « £ •■ d. £ s. d. 3 10 6| 3 13 2 £ ■■ d. 3 16 o £ S. d. 3 19 1 46 6 o f8 2 o 49 1 o 50 o o 51 o o 52 o 0I53 I o 54 2 o 55 4 o 6 1 6 4 10 1 3 15 1 3 6 10 320 2 19 3 638661 4 11 10 4 13 9 3 16 8i 3 18 5 3 8 4 3 10 o 3 3 7 3 5 3 3 o 10 3 2 7 661686 4 13 9 4 15 8 3 18 5 4 o 2 3 10 o 3 11 9 3 5 3 3 7 0 6 11 1 4 17 9 420 3 13 7 3 8 11 6 13 8 4 19 10 4 4 0 3 15 6 3 10 10 6 16 6[ 6 ig 4 522546 462484 3 17 8 3 19 10 3 1.3 1 3 15 4 724 5 6 11 4 10 8 422 7 5 6 5 9 7 4 13 2 4 4 9 327 w TJ 01 rt O TJ a B 1-4 <D CU o *v a o CD ■5 o ■j'g. M 5 11 11 j.. cn rt 0 Is H ° I, WO cu o q u cn <! "3 01 I o TJ a Annual Premiums,— Payable for 10 years .. 1, 11 a 9 15 8 8 16 11 8 1 6 7 8 5 6 17 5 9 16 o 8 17 4 8 1 11 7 8 11 6 17 10 9 16 5 9 16 11 8 17 9 8 18 3 8 2 48 2 11 7 9 5' 7 10 o 6 18 5; 6 ig o 9 17 6 8 IS 11 8 3 6 7 10 8 6 ig 8 9 18 1 8 19 7 8 4 3 7 11 5 706 9 18 10 9 19 8 9049 I 2 8 5 08 5 11 7 12 3 7 13 2 714724 10 o 6 g 2 1 8 6 10 7 14 1 7 3 4 10 1 5 9 3 0 8 7 10 7 15 2 7 4 5 „ 12 „ 13 » ■• 14 - •■ 15 ,1 ■■ 16 „ .. 17 a ■■ 18 „ .. 6 7 10 5 19 8 5 12 5 562 506 685 602 5 13 o 569 5 1 2 6 8 11 6 9 7 609615 5 13 8 5 14 4 5 7 5 5 8i 5 1 io, 5 2 8 6 10 4 622 5 15 2 5 8 11 5 3 6 6 11 2 6 3 1 5 16 o 5 9 11 5 4 6 6 12 0 6 13 1 64065 1 5 17 o 5 18 2 5 IO II 5 12 I 5 5 7 5 6 10 6 14 1 662 5 19 4 5 13 4 5 8 1 6 15 3 6 7 5 607 5 14 8 5 9 6 19 .1 ■■ „ 20 „ 21 „ 22 „ 4 15 7 4 II 2 4 7 3 4 3 9 407 4 16 3 4 11 11 480 4 4 6 4 1 5 4 17 o 4 17 10 4 12 8 4 13 4 489498 454463 423433 4 18 9 4 14 6 4 10 8 4 7 4 4 4 4 4 19 9 4 !5 7 4 11 10 486 4 5 7 5 o 11 5 2 2 4 16 9 4 18 1 4 13 1 4 14 6 4 9 10 4 11 3 470486 5 3 6 4 19 6 4 15 11 4 12 10 4 10 1 5 5 0 5 1 o 4 17 7 4 14 6 4 11 10 C 23 „ .. 24 25 „ .. 26 „ .. 27 „ .. 28 „ .. 3 17 9 3 15 2 3 12 11 3 10 i° 3 9 0 3 18 7 3 16 1 3 13 10 3 11 10 3 10 o 3 19 6 4 o 7 3 17 1 3 18 2 3 14 10 3 16 o 3 12 11 3 14 1 3 11 1 3 12 4 4 1 8 3 19 4 3 17 3 3 15 4 3 13 8 4 3° 408 3 18 8 3 16 10 3 15 2 445460 4 2 24 3 „g 4 0 24 1 10 3 18 5 4 O 2 3 16 10 3 18 8 4 7 8 4 5 6 4 3 8 420 407 4 9 6 .4 7 5 4 5 7 4 4 0 428 29 „ .. 30 „ •■ 31 i- ■■ 32 1, ■■ 33 •■ •• 34 » •• 3 7 4 3 5 10 3 4 6 3 3 4 323 3 8 5 3 6 11 3 5 8 3 4 6 3 3 6 3 9 7 3 10 10 382396 3 6 n 3 8 3 3 5 10 3 7 3 3 4 10 3 6 4 3 12 3 3 10 11 3 9 9 389 3 7 11 3 !3 9 3 !2 6 3 11 5 3 10 6 3 9 8 3 15 6 3 17 4 3 14 4 3 16 3 3 13 3 3 15 3 3 12 5 3 M 5 3 11 8 3 13 9 3 19 4 3 18 1 3 17 5 3 16 8 4 1 7 407 3 19 9 1 35 a ■■ 36 „ ■■ 37 » ■• 38 1, ■■ 39 » •• 3 1 4 306 2 19 9 2 ig 2 2 18 7 327 3 1 10 312 307 3 o 1 3 4 0 356 3 3 3 3 4 10 327343 321339 3 1 7 3 7 2 3 6 6 360 3 9 0 3 8 5 3 11 o Age 29. 2 4 5 Age 28. 2 3 3 2 3 5 4° » •■• 2 18 2 2 19 7 Age 33. 2 9 7 2 9 II Age 32. 283 286 289 Age Age 3tl - „ 31. 258 2 6 11 2 5 10 272261 275265 2 7 92 6 10 248 2 4 II 2 5 2 256 2 5 II 2 3 8 2 3 11 2 4 3 248 2 5 1 Age 36. 2 14 3 2 14 7 2 15 O Age 34. Age 2 » T 85. 2 12 7 2 II 4 2 12 II 2 II 9 2 13 4 2 12 2 2 13 9 2 12 7 2 IO 3 2 IO 7 2 II O 2 II 6 292 2 9 7 2 10 o 2 10 7 282273 287278 291283 2 9 82 8 10 264 2 6 IO 275 280 256 261 267 2 7 3 Age 38. 2 17 9 Ago 37. 2 15 II 2 l6 4

H.—B.

SCHEDULE.

THE PUBLISHED TABLES OF PREMIUMS Which were in Use on the 31st December, 1917.

23

Age ni icarest Birthday. Age 50. Age 57. Age 58. Age Age Age 48. 49. 50. Age 51. Age 52. Age 53. Age Age 54. 55. Ago 59. Age 60. A £.s. d. / s. d. £ s. d. 423I457I492 £ B. d. 4 13 o £ s. d. 4 17 2 £ s. d. 5 1 7 £ s. d. £ s. d. 5 6 4 5 11 5 £ s. d. £ s. d. 5 16 11 6 2 10 £ s. d. 692 £ s - d. 6 16 1 £ s - d. 7 3 7 A B s 56 5 057 7 058 10 o 59 13 01 60 16 o 62 o o 63 4 064 g o 65 14 066 19 o 68 4 o 69 1 o o 70 16 o B s B 10 r. 15 B20 B25 B30 B35 7 8 871110715 2 5 12 3 5 15 o; 5 17 10 4 15 g 4 18 4' 5 1 2 4 7 4 4 10 1 4 13 o 7 18 8 6 on 5 4 3 8 2 5 6 4 3 5 7 6 8 6 3 6 7 9 5 II o 8 10 3 8 14 6 6 n 5 6 15 3 5 14 8 5 18 8 8 19 o| 9 3 8 6 19 6| 7 3 11 9 8 7 786 9 13 IO 7 l 3 6 9 19 4 7 18 11 B 10 B15 B20 B25 B30 B35 Term of Years. ■ 10 5 8 9 7 6 8 12 8 803 7 9 10 10 8 7 9 10 8 8 16 o 8 3 9 7 13 6 10 10 3 10 12 3 g 12 6 g 14 6 8 17 n g o o 8 5 10 8 8 1 7 15 8 7 18 o 10 14 4 10 16 8 1 9 16 g g ig 3 • 9 2 5 g 5 o 8 10 6 8 13 3 .808836 Term of Years. 10 II 12 13 M 10 2 410 3 410 4 5 940951963 8 8 nj 8 10 o 8 11 3 716 3717 6718 g 7577 6 11 783 10 4 5 g 6 3 8 11 3 7 18 9 7 8 3 10 7 o 990 8 14 3 8 1 11 10 16 8 9 19 3 9 5 0 8 13 3 8 3 6 io ig 3 io I II 11 2 1 10 4 11 9 10 11 8 19 5 8 10 o 11 5 2 10 8 1 10 n 9 7 io 8 16 3j 8 6 7 ! 9 14 4 9 3° 8 13 9 12 13 14 7 11 7 15 16 17 18 19 6 16 6 6 17 10 6 ig 4 6 8 8 6 10 1 6 11 8 620636651 5 16 1 5 17 8 5 ig 5 5 11 0 5 12 8 5 14 6 6 ig 4 6 11 8 6 5 1 5 19 5 5 14 6 710 . 6 13 5 6 6 11 614 5 16 6 7 2 10 6 15 4 6 8 11 6 3 5 5 18 8 7 4 10 6 17 6 611 2 6 5 9 612 7 7 2 7 g 7 6 19 10 7 2 5 6 13 8 6 16 4 6 8 4 6 11 2 6 3 10 6 6 9 7 12 4 7 15 3 7 5 3 7 8 4 6 19 4 7 2 7 6 14 3 6 17 8 6 10 o 6 13 7 7 15 3 7 8 4 727 6 17 8 6 13 7 7 18 6 7 ii 9 762 7 1 5 6 17 6 8 2 1 7 15 7 7 10 1 7 5 7 7 'I 9 8 6 1 7 19 8 7 14 5 7 10 1 766 15 16 17 18 19 20 21 22 23 24 5675845 10 3 528546566 4 19 45 1 2533 4 16 44 18 35 o 5 4 13 8 4 15 g 4 17 11 5 10 3 5 6 6 5 3 3 505 4 17 11 5 12 3 5 8 8 5 5 6 529 505 5 14 7 5 n o 580 5 5 4 5 3 2 5 17 2 5 13 8 5 10 9 5 8 3 562 5 19 11 6 3 o 5 16 7 5 19 10 5 13 10 5 17 2 5 11 5 5 14 11 5 9 5 5 13 o 16 6 5 6 10 1 '634673 6 o 10 6 4 10 5 18 8 6 10 1 6 7 3 6 4 10 6 14 2 6 11 5 6 18 8 20 25 26 27 28 29 4 11 5 4 13 6 4 15 10 4 9 5 4 11 ' 8 4 14 1 4 7 g 4 10 o 4 12 6 4 6 34 8 7411 2 4504754 10 1 4 15 10 4 14 1 4 12 6 4 n 2 4 10 1 4 18 5 4 16 8 4 15 3 4 14 1 5 1 3 4 19 8 4 18 3 5 4 4 5 2 10 5 7 9 1 Ago Ago 1H - 19. I 14 I I 14 II I 14 2 Age 18. I 14 I I 14 2 Age 17. 1 13 2 1 13 3 1 13 5 Ago 16. 1 12 3 1 12 4 1 12 6 1 12 7 Age 15. I II 4 1 11 5 1 11 7 I II 8 1 11 10 64 63 62 61 60 30 31 4 3 11 4 6 5 4 3o Age 24. 1 19 1 Age 23. 1 18 2 1 18 4 Age 22. I 17 4 1 17 6 1 17 8 Age Age 20. 21. 1 15 9 1 16 6 1 15 10 1 16 8 1 16 o 1 1 16 10 1 16 2 1 17 o 1 16 4 I 15 O I 14 4 1 1 15 2 i 14 5 1 1 15 4 1 14 8 1 15 6 1 14 10 1 15 g 1 15 1 I M 4 1 14 5 1 14 8 1 14 10] 1 15 l| 1 13 6 1 13 8 1 13 11 1 14 1 1 14 4 1129 1 12 11 1 13 2 1 13 4 1 13 7 1 12 o 1 12 2 59 58 57 56 55 A 0a Age 25. 200 202 205 207 2 O IO 1 12 5 1 12 8 1 12 11 52 5i 50 I ARC Age 25. Age 26- 200 37. 210202 22 121 3205 2242 I 5207 22621820 IO • 1 19 3 1 19 5 1 19 7 1 19 10 1202 1 18 6 1 18 8 1 18 n 1 17 10 1 18 1 1 18 4 1 18 7 1 18 n 1 1 17 2 1 16 7 1 17 5 1 16 10 . 1 17 9 1 17 2 I l8 O T 17 5 i 18 4: i 17 IO 1 16 o 1 15 4 1 1 16 3 1 15 7 1 16 7 1 15 n 1 16 11 1 16 3 1 15 4 1 15 7 1 15 n 1 16 3 1 16 8 1 14 7 1 14 11 1 15 3 1 15 7 1 16 o 1 13 11 1 14 3 1 14 7 1 14 11 1 15 4 1 13 3 1 13 6 1 13 11 I 14 3 1 14 9 54 53 52 5i 50 52 51 50 1 19 2 1 19 6 1 1 17 3 1 16 8 49 48 47 46 45 49 48 47 46 45 2 2 10 2 III2 I 2 23I2232I6 23522821 II 2 3 IO 2 3 12 2 4 2 4323622 IO 2 12 2 I 6 2 III 206 1 2 o 10 1 1 19 10 1203 208 1 19 3 1 19 8 201 I 1 18 9I I 18 2 1 I 19 2 I 18 8 I 19 7 I 19 I -20 1 1 19 8 1208203 1 17 8 1 17 i ; 1 18 1 1 17 7 I 18 7 I IS 1 1 19 2 1 18 7 ; 1 19 9 1 19 2 117 I 1 17 7 1 IS 1 118 7 I I (J 2 1 16 5 1 16 11 1 15 10 1 16 4 1 16 10 1 15 2 1 15 8 1 16 3 1 16 10 49 48 47 46 45 224 2 2 IO 2 1 3 2 1 8 211 2 i 8 207 212 1 17 5 1 18 o 1 18 8 1 17 5 1 18 o 1222 1 17 5 44 43 42 41 44 43 42 41 24924O234 25324723 II 2 5" 2 5 32 4 7 2 6 72 5 II 2 5 4 2.3 4 2 3 II 2 4 7 2 5 4 229 2 3 4 240 2 4 9 1222 2 2 10 1236 243 2 1 g 224 231 2 3 10 12 I 3| 2 OIO .2 I Il| 2 I 6 2 2 8 2 2 3 12 3 52 3 I 12 o 4 1 19 10 1 2 I 1207 1 19 IO 207 2 1 4 2 2 2 1 19 3 200 2 o g 217 1 18 8 1 19 5 203 2 1 1 1 18 1 1 18 10 1 ig 8 206 44 43 42 4i ,2 I IO 2 I 4 2 2 8 2 2 2

H.-8,

24

FIFTH

Appendix No. 1— continued.

JOINT LIVES. Temporary Annual Premiums required to secure £100, payable on the failure of either Life. ( With Profits.) ASSURANCES. ij ■*» oj in tmf . a tH rS. So. SJil DlFFKUENCK BETWEEN AoK OF El,I>ER AND d Yoijngfr Life. 3 dT-i iflio M -j -. 01 J-) Premium to be paid for assuring £100 on a Single Life. ( Without Profits, f .{41 0 Years. 2 Years. 4 Years. 1 6 Years. 8 Years. t-8. 10 Years. 0 I ' I i < 1 *n I ' £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 20 2 14 11 2 16 1 2 17 4 2 18 10 307 21 2160 2 17 2 2 18 7 302 320 22 2 17 2 2 18 4 2 ig 10 316 335 23 2 18 3 2 ig 7 312 3 2 11 3 4 11 242^63011327345366 25 3011 325 342 360 382 26 324 33 11 359 379 3100 27 33 11 357 375 396 3 11 10 28 356 373 392 3 11 4 3 13 10 29 j 3 7 2 3 9 o 3 11 o 3 13 4 3 15 11 30 3 8 11 3 10 9 3 12 11 3 15 4 3 18 1 31 I 3 10 8 3 12 8 3 14 11 3 17 5 4°4 32 3 12 7 3 14 8 3 17 o 3 19 8 429 33 3 14 6 3 16 9 3 19 2 420 453 34 3 16 7 3 18 11 416 446 4 7 11 35 3 18 10 413 4 4° 47i 4 10 10 36 412 438 466 49 11 4 13 11 37 437 462 493 4 12 11 4 17 2 38 46114811 4 12 2 4160 506 39 48.94 11 8 4 15 3 4 19 4 54i 40 4 11 7 1 4 14 9 4 18 6 5 2 11 5 7 10 41 ; 4 14 7 ■ 4 18 o 520 568 5 11 10 42 ! 4 17 10 I 5 1 6 559 5 10 7 5 16 2 43 514(553 599 5 14 10 609 44 55i|592 5 13 11 5 19 4 658 45 590 5 13 5 5 18 5 642 6 10 n 46 5 13 3 5171° 631 693 6 16 6 47 5 17 8 626 681 6 14 9 726 48 6236756 13 5706789 49 672 6 12 8 6 19 2 768 7 15 6 50 6 12 5 j 6 18 3 752 7 13 3 828 i d. £ s. d. 7 3 2 6 0340 5 3 5 6 11 3 7 1 6389 2 3 10 7 0 3 12 6 10 3 14 7 10 3 16 8 11 3 18 10 1 4 1 2 4 4 3 8 9463 3 4 9 0 n 4 12 o 10 4 15 2 11 4 18 6 2 5 111 6 5 5 7 15 9 5 10 5 13 6 10 5 17 10 2627 9677 8' 6 13 o 11 6 18 9 6 7 4 11 6 7 11 5 9 7 18 4 6859 8 8 13 7 d Annual Annual Annual «oi-s Premium Premium Premium "I dip for for for a 3 l Year. 3 Years. 5 Years. Under £ 8 . -J. £ s. d. £ s. d. 25 i o o i o 6 | i i o 25 108 I O II I I 4 26 i o io i i 4 i i io 27 i i 3 i i io i 2 4 28 i i io i 2 5 i 2 io 29 i 2 5 i 2 ii i 3 4 30 i 3° i 3 5 | i 3i° 31 135 13101143 32 1 3 10 143 149 33 142 148 154 34 1 4 8 1 5 3 1 5 11 35 153 160 167 36 160 168 173 37 168 174 1 7 ,0 38 1 7 5 1 8 o 1 8 5 39 180 1 8 6 j 1 9 o 40 186 1 8 11 I 1 9 7 41. 18 11 196 1104 42 19 5 1 10 3 1 1 11 5 43 1 10 3 1 11 3 ! 1 12 8 44 1 11 2 1 12 7 1 14 o 45 1 12 6 1 14 1 1 15 7 46 1 14 1 1 15 8 1 17 2 47 1 15 9 1 17 3 1 18 9 48 1 17 3 1 18 10 204 49 1190 205 222 50 206 221 240 51 221 23 11 262 52 23 11 261 287 53 262 287 2 11 3 54 2 8 7 2 11 3 2 14 2 IMMEDIATE ANNUI' IMMEDIATE ANNUITIES. Showing the Sum to be paid for an Immedia, payable by Half-yearly Instalnn » >, jj» >, , d * d S ~S MALE. PBMALB, ~S Mj< <n f|_ 1 . 1 Showing the Sum to be paid for an Immediate Annuity payable by Half-yearly Instalments. ity of £10, +3 E*> as MALE. FEMALE. Double-Endowment £ s. d. £ s. d. 60 „ 3 80 I 51 10 10 55 i° o 59 117 79 53 19 2 58 5 o 58 I20 78 56 9 2 61 1 8 57 I24 77 j 59 o o 64 o o g6 I2? 76 61 12 6 67 o 10 55 I30 75 64 7 6 70 2 6 54 I34 74 67 5 o 73 5 10 53 I37 73 70 3 4 76 10 10 52 I40 72 73 5 o 79 17 6 51 I43 71 76 8 4 83 5 10 5Q 6 70 79 12 6 86 16 8 4g ,. g 69 82 17 6 90 11 8 4 g I5I 68 86 2 6 94 9 2 47 I54 67 89 7 6 98 8 4 46 I57 66 92 12 6 102 8 4 45 I5g 65 96 o o 106 7 6 44. l62 64 99 9 2 no 6 8 43 63 102 18 4 114 4 2 42 !6 7 62 106 76 118 o o 41 l6o 61 109 16 8 121 15 10 4Q I?2 60 59 58 57 56 55 54 53 52 51 50 49 48 47 46 45 44 43 42 41 40 £ s. d. "3 7 6 117 o o 120 12 6 124 2 6 127 10 10 130 16 8 134 o 10 137 4 2 140 5 o 143 5 o 146 4 2 149 o 10 151 16 8 154 10 10 157 5 o 159 17 6 162 8 4 164 19 2 167 9 2 169 18 4 172 6 8 £ s. d. 125 12 6 129 7 6 J 33 3 4 136 17 6 140 11 8 144 4 2 147 14 2 151 4 2 154 12 6 157 19 2 161 4 2 164 10 o 167 15 o 170 18 4 174 o 10 177 o 10 179 19 2 182 16 8 185 11 8 188 5 10 190 18 4 ASSURANCES. (With Profits.) For the Assurance of £100 in the event of Death during the Term, and an Endowment of £200 in the event of the Life assured surviving the Term. Term Annual lerin. Premium. £ s. d. 10 years 17 12 o 15 „ 11 o o 20 „ 7 14 o 25 „ 5 16 o 30 „ 4 12 o 35 a 3 15 o |

H.—B

SCHEDULE.

THE PUBLISHED TABLES OF PREMIUMS Which were in Use on the 31st December, 1917.

Premiums payable oftener than yearly are obtained in the following manner:— Half-yearly.— The annual premiums are increased by 2\ per cent., and divided by 2. Quarterly. —The annual premiums are increased by 5 per cent., and divided by 4. Monthly. —The annual premiums are increased by 7J percent., and divided by 12. Four-weekly. —The annual premiums are increased by 7J per cent., and divided b y 13-

4—H. 8.

25

TABLE YI. TABLE YI.p. ENDOWMENTS EN DOWMENTS FOR FOR CHI LDREN CHILDREN. AND OTHERS. Annual Premiums to secure £100 in the event of Survival of Nominee to End of Term. Premiums returned (less 10 per cent.) in event of Death of Nominee during the Term. 'The Policy becomes paid up in the event of Death of Purchaser during the Term. Rates of Premium to secure £100 in the event of Survival to End of Term. Premiums returned in the event of Death. (With Profits.) (With Profits.) Term of Single. Annual. Years. Age of Purchaser at nearest Birthday. Term of " Years. Under 30. 30-39. 40-44. 45-49. I 1 \ £ s. d. £ s. d. £ s - d. £ s. d. £ s. d. £ s. d. 10 74 io o 8 13 1 IO 961 9 i° 5 9 19 1 10 7 8 11 72 5 o | 7 15 1 11 869 8 10 7 8 18 4 9 6 1 12 ; 70 I 0 701 12 7 10 7 7 14 1 811 881 13 I 67 19 o 675 13 6 17 o 702 766 7 12 11 14 ! 65 18 o 5 16 7 14 654 683 6 14 1 6 19 11 15 j 63 19 o j 5 7 3 15 5 15 4 5180 634 689 16 ' 62 o 0 4 19 1 16 566 590 5 13 11 5 18 11 17 60 4 0 4 11 11 17 4 18 10 511 558 5 10 4 18 i 58 8 o 457 18 4 12 o 4 14 2 4 18 5 528 19 56 14 0 3 19 11 19 4 5 11 4 7 11 4 11 11 4 15 11 20 55 1 0 3 14 10 20 4°5 424 4 6 1 4 9 10 2 1 | 53 9 O 3 10 3 2 1 3 15 6 3173 4 o 10 444 22 '51 17 o j 3 6 1 22 3 " ° 3 12 8 3 16 o 3 19 4 23 50 8 o 324 23 3 7° 387 3 11 8 3 14 10 24 48 18 o 2 18 10 24 3 3 3 j 3 4 9 378 3 10 7 25 47 9 o 2 15 8 25 2 19 10 ; 3 1 3 j 3 4 o 3 6 10

H.— 8

26

FIFTH

Appendix No. 1— continued.

WHOLE-LIFE ASSURANCE, e : NDOWM ENT ENDOWMENT ASSURANC :es, ASSURANCES, WITH EXTRA WITHOUT PROFITS. wn rHOUT PF :OFITS. PROFITS. Premium required to secure £100, payable at Death only. Prem £10, Term iums require o, payable ai , or at previt 1 to secure End of Ms Death. Premiums required to secure £100, payable at End of Term, or at previous Death. , Single Annual Premium limited to 8 • Premium. Premium. (years 20 Years ' Term 25 Years. Term, 30 Years. . Term, Term, K ' , 25 Years. 30 Years. i Age. £ s. d. £ s. d. £ s. d. £ s. d. 15 24 17 0 144 300 1 16 9 16 25 10 o 152 318 1 17 10 17 26 40 161 337 1190 18 26160 1611 353 200 19 27 70 178 368 2011 20 27 18 o 185 380 2 1 10 21 28 9 o 192 395 228 22 29 00 1911 3 10 9 237 23 29 10 o 1 10 8 3 12 o 244 24 30 20 1116 3135 254 25 30 13 o 1 12 4 3 14 10 263 26 31 5 o 1 13 3 3 16 5 272 27 31 18 o 1 14 3 3 18 1 284 28 32 13 o 1 15 4 3 19 11 29 6 29 33 5 o 1 16 4 416 2 10 6 30 34 o o 1 17 6 4 3 5 2 11 9 31 34 13 o 1 18 7 451 2 12 10 32 35 8 o 1 19 10 471 2 14 2 33 36 30 211 4811 2 15 5 34 36 18 o 225 4 10 11 2 16 9 35 37 12 o 239 4 12 10 2 18 1 36 38 9 o 253 4 15 o 2 19 6 37 39 5 o 2 6 9 4 17 1 310 38 40 1 o 284 4 19 3 326 39 40 19 o 2 10 1 517 342 40 41 16 o 2 11 10 5 3 10 359 41 42 14 o 2 13 8 562 375 42 43 12 o 2 15 8 589 393 43 44 12 o 2 17 10 5 11 5 3 11 3 44 45 11 o 301 5 14 2 3 13 3 45 46 no 326 5171 3156 46 47 12 o 351 601 3 17 10 47 48120 378 630 401 48 49 14 o 3 10 6 662 427 49 50 14 o 3 13 5 693 452 50 51 17 o 3 16 7 6 12 7 47 11 51 52 19 o 3 19 11 6 16 1 4 10 10 52 54 1 o 4 3 5 6 19 7 4 13 10 53 55 4° 473 735 4 17 3 54 56 7 o 4 11 3 7 7 3 508 55 57 10 o 4 15 6 7 11 4 56 58 14 o 5 o 1 7 15 7 57 59 18 o 5 4 11 801 58 6120 5101 849 59 62 7 o 5158 899 60 63 11 o 616 8 14 1o 61 .. 679 62 .. 6 14 5 63 .. 715 64 j .. 7 8 11 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 £ s - d. 305 3 o 11 3 1 5 3 1 10 322 3 2 5 3 2 8 3210 3 3° 3 3 3 3 3 7 3 3 11 3 4 3 3 4 7 3 5 0 3 5 5 3 5 to 364 3 6 10 3 7 4 3 7 11 3 8 7 3 9 3 3 10 o 3 10 10 3 11 9 3 12 8 3 1.3 10 3 15 o 3 16 5 3 17 10 3 19 6 412 4 3 1 4 5 1 4 7 4 4 9 9 4 12 5 4 15 5 4 18 8 £ s - d. 289 292 298 2 IO I 2 10 6 2 IO 9 2 11 O 2 II 3 2 II 6 2 II IO 2 12 2 2 12 6 2 12 II 2 13 5 2 13 II 2 14 5 2 14 II 2 15 6 2 16 I 2 16 9 2 17 6 2 18 4 2 19 2 3 O I 3 1 1 323 3 3 5 3 4 9 363 3 7 1° 3 9 8 3 11 7 3 13 8 3 15 11 3 18 4 £ s. d. £ s. d. 15 404370 16 4 o 10 3 7 6 17 414380 18 4 1 10 3 8 6 19 4 2 2 3 8 11 20 425393 21 4 2 8 3 9 6 22 4 2 10 3 9 9 23 4 3 1 3 10 o 24 4 3 4 3 10 4 25 4 3 8 3 10 8 26 4 4 1 3 11 2 27 4 4 5 3 11 7 28 4 4 10 3 12 1 29 , 4 5 3 3 12 7 30 4 5 8 3 13 2 31 4 6 2 3 13 9 32 4 6 8 3 14 4 33 4 7 2 3 15 o 34 4 7 9 3 15 9 35 4 8 5 3 16 6 36 4 9 2 3 17 6 37 4 9 11 3 18 5 38 4 10 8 3 19 5 39 4 11 6 4 o 6 40 4 12 6 4 1 9 41 4 13 7 4 3 1 42 4 14 9 4 4 7 43 4 16 1 4 6 1 44 4 17 7 4 7 11 45 4 19 2 4 9 10 46 5 on 4 11 11 47 5 2 10 4 14 3 48 5 4 9 4 16 8 49 5 6 11 4 19 4 50 5 9 4 51 5 12 o 52 5 14 n 53 5 18 1 54 617 Note. —In addition to participating in ordinary profits, a special Reversionary Bonus of 20s. per cent, per annum on the sum assured will be allotted.

Hr— 8\

SCHEDULE.

THE PUBLISHED TABLES OF PREMIUMS Which were in Use on the 31st December, 1917.

27

DEFERRED DEFERRED DEFERRED ASSURANCES ENDOWMENT ASSURANCE (For Children), ENDOWMENT ASSURANCE (For Children), (For Children), WITH EXTRA WITH EXTRA WITHOUT PROFITS. PROFITS. After Age 21 the Policy, in addition to particiPROFITS. After Age 21 the Policy, in addition to participating in the ordinary profits, will receive an extra Reversionary Bonus of 20s. per cent, per annum on the sum assured. pating in the ordinary profits, will receive an extra Reversionary Ti nt/111 C /IT O/lf /•O'Vlt W ASSUR E ANCE FE ENDOWMENT ASSURANCE. Bonus of 20s. per cent, per annum on the sum assured. Premiums to secure £100, Premiums to secure £ioo)Premiums to secure £100, payable at Death after payable at Death after payable at Death after Age 21. Age 21 , or at Age 30. Age 21, or at Age 50. , Premiums to secure £100, payable at Death after Age 21, or at Age 50. Premiums payable Premiums payable until Premiums payable until throughout Life. Death, or Age 30. Death, or Age 50. Premiums payable until Death, or Age 50. Aee Annual . Annual .~ e Annual K * Premium. 8 Premium. g Premium. I . Annual b Premium. £ s - d. £ s. d. £ s. d. 0 0122 0 208 0 0194 1 OI2 8 1 22 II 1 I02 2 0132 2 253 2 1 10 3 0138 3 2 7 10 3 iiii 4 o 14 3 4 2 10 7 4 1 2 n 5 o 14 10 5 2 13 7 5 1 3 n 6 015 5 6 2 16 11 6 150 7 0161 7 306 7 162 8 0169 8 34 5 8 175 9 o 17 5 9 3 8 10 9 189 10 o 18 2 10 3 13 7 10 1 10 1 11 0190 11 3 18 n 11 1117 12 o 19 10 12 4 4 n 12 1 13 2 13 108 13 4 11 8 13 1 14 10 14 117 14 4 19 3 14 1 16 8 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 £ s. d. 0 164 1 176 2 188 3 1 9 11 4 1 11 3 5 1 12 8 6 1 14 2 7 1 15 9 8 1 17 5 9 1 19 2 10 211 11 231 12 253 13 277 14 2 10 1 Premiums refunded if child die before age 21. ums refunded if ;hild die

H.—B.

FIFTH SCHEDULE.

Appendix No. 2. ASSURANCES FOR THE WHOLE TERM OF LIFE WITH WHOLE-LIFE PREMIUMS, WITH PROFITS, In force at 31st December, 1917.

28

Age attained. Number of Policies. Amount assured. Office Annual Premiums. Bonus Additions. Ordinary. Extra. Net Premiums. Yearly Permanent lteduction of Premium. Age attained. 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 90 I I 3 8 ii 18 2 3 30 59 63 87 87 121 '38 143 197 160 224 178 243 230 239 207 254 229 252 219 3°7 292 254 253 275 267 254 248 253 194 190 180 156 167 149 132 128 132 127 77 93 62 61 47 44 26 £ 650 300 700 1,800 2,500 4,750 4,200 7,385 13,960 15,700 23,450 23,420 30,095 34,090 37.985 49,645 44,245 62,865 51,520 75,945 66,675 61,800 61,950 72, 200 65,050 71,480 63,820 85.723 73.565 71,200 69,645 78,977 77,496 73,3io 70,510 81,047 54,175 51,151 52,366 46,428 47,695 46,471 38,231 34,150 42,149 38,607 18,874 25,856 19,089 17,300 17,675 9,946 11,615 8,990 2,920 1,420 850 2,300 £ s. £ s. d. £ s. d. 113 14 IO 4 IO 52 11 4 14 6 141 19 11 1 9 363 10 28 17 10 420 7 40 18 7 863 13 78 17 2 855 15 70 16 10 1,529 4 124 8 8 2,879 8 243 01 0100 3,353 11 271 16 6 1 10 o .5,359 6 408 07 9 10 o 5,498 11 416 4 11 7 19 o 7,043 6 541 13 6 3 15 0 7.960 11 627 97 828 9,603 19 705 2 3 11 5 o 12,894 6 935 15 522 9,683 7 860 5 3 9 17 1 16,128 9 1,238 12 8 13 12 10 12,933 16 1,041 15 4 4 7 6 18,944 l6 1.539 61 11 15 o 17,709 6 1,384 33 16 2 11 15,179 8 1,318 16 2 19 1 4 15,203 12 1,321 12 8 14 3 4 18,464 2 1,594 12 6 19 6 o 16,507 15 i,45i 11 2 17 14 11 19,072 12 1,584 19 1 31 9 2 16,476 8 i,449 16 4 16 14 6 20,897 12 1,984 5 7 52 1 8 18,633 Ix 1,726 19 4 37 '3 4 18,462 11 1,714 7 2 23 9 9 18,638 11 1,653 02 31 6 6 22,336 13 1,914 15 5 ' 30 2 7 20,150 8 1,910 13 9 36 14 9 18,831 1 1,809 4 7 40 16 2 19,733 1 1,793 17 o 30 2 11 23,669 15 2,059 85 49 14 11 15,458 19 1,423 5 4 42 7 1 14,493 5 1,380 10 4 24 11 3 15,292 5 i,454 9 11 56 o 7 14,404 J 9 1,266 11 o 31 18 8 16,285 l6 1,273 14 ° 30 15 6 14,323 18 1,345 17 11 33 o 3 13,022 16 1,140 02 20 1 1 9,658 1 1,020 12 2 15 13 10 15,010 15 1,224 i° 9 40 15 2 13,510 4 1,144 49 27 9 2 6,487 6 566 7 4 15 10 5 8,834 4 830 13 o 19 17 8 6,332 19 669 18 10 22 9 9 5,785 10 559 17 10 17 14 5 6,068 1 577 92 450 2.961 19 384 21 410 4,002 19 433 7 10 3 19 8 3,289 16 352 51 120 1,279 6 101 1 4 4 13 6 466 15 56 o 8 o 18 8 304 17 30 o 10 1 16 8 877 10 90 12 10 £ 7-319 3-498 8-233 21-563 30-673 59-221 53-442 94201 185-565 206-981 311-059 320-281 417-269 486-347 547-713 730-128 677-842 978-547 827-610 1,223-671 1,106-960 1,061-657 1,067-774 1,298-034 1,184-818 1,305-296 1,195073 1,654-468 1.440-564 1,452-854 1,399-553 1,627-698 1,644-278 1,559-672 1,547-136 1,784-314 1,238-780 1,211-262 1,280-932 1,119-429 1,130-669 1,198-303 1,017-697 915-334 ! 1,101-849 1,033990 512-229 753-379 606-177 511-543 527-874 351-769 397-496 326-538 94-212 51-837 28-417 86-335 £ s. d. o 18 11 0 12 q 1 16 8 o 5 4 0 17 6 2 14 o 4 4-1 048 032 722 090 5 o 4 190 1 9 10 048 8 11 o o 2 10 112 o 16 17 2 042 o 10 8 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 90 21 12 7 3 5 Totals 7,841 £2,217,911 £604,742 5 £53,196 4 1 £973 2 4 £45,017-363 £55 10 2 £55 10 2

29

H.-8.

FIFTH SCHEDULE.

Appendix No. 3. ASSURANCES FOR THE WHOLE TERM OF LIFE BY LIMITED AND SINGLE PREMIUMS, WITH PROFITS, In force at 31st December, 1917.

Age attained. I* Amount assured. Bonus Additions. J-. O a ID <JrH cj ad H75 £ * Office Annual Premiums. LL stra. Yearly Permanent Premiums. Reduction oi Premium, Ordinary. Extra. I 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 6O 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 8O 81 82 83 84 85 86 87 88 2 3 2 2 7 5 8 7 7 7 11 17 6 12 8 10 7 9 9 13 6 11 10 8 19 20 9 12 13 14 19 21 16 £ s. d. 950 o o 575 o o 400 O o 200 O O 2,OOO O O 2, 1 OO O O 3,187 O O 2,153 ° o 1,807 o ° 2,165 o o 2,055 o oj 5,583 o oj 1,132 o o 1 4,473 o o 2,687 o o 4,308 o o 1,628 o o 4,933 o o 2,607 o o 4,085 o o 1,547 o ° 4,686 o o 4,123 o o 1,194 o o 8,520 o o 6,726 o o 2, 9OO O O 4,034 o o 6,549 o o 6,812 o 0 6,545 o o 8,391 o o 10,208 o o £ s. d. 177 4 o 192 IO o 76 4 o 45 1 o 468 14 o 559 17 o 806 13 o 538 19 o 647 13 ° 706 6 o 728 13 o 2,005 18 o 411 19 o 1,428 2 o 945 6 o 1,657 6 0 744 o o 1,800 o o £ s - d. ' £ s. d. s. ( d. £ £ s. d. 65-211 1918 5 49-1 78 io 8 1919 4 48-3 35 io 8 29-035 1920 1 4 6 '5 288 1-966 1922 2 56-5 26 11 4 22-200 1923 1 44-5 711 o 6'027 903 7 o 1,615 17 ° 615 3 o 1,105 6 o 1,954 8 o 672 16 o 3,"5 8 0 2,381 5 o 1,182 ig o 1,513 8 o 2,731 o o 3,870 18 o 2,go8 g o 4,127 11 o 4,620 3 o 1,861 17 0 3,272 14 o 2,817 17 o 2, g84 o o 2,570 ig o 4,622 4 o 4,815 18 o 2,677 IO o 3,195 14 o 1,844 18 o 8g5 8 o 1,565 1 o 124 7 o 1,476 5 o 614 I o 578 g 0 822 11 o 18 7 0 1924 5 427 36 9 1 29-119 1925 2 490 17 5 o I3-647 1926 3 51-2 16 1 o I3-I59 1927 1 5i-5 2 T I TO 2-120 1929 2 5i-o 23 9 8 19-563 ! 1934 1 53'5 2 12 8 2'170 1937 1 40-5 3 18 4 3-028 1939 1 38-5 3 14 8 2-846 14 14 15 16 16 22 19 14 15 8 7 10 1 3 2 4,329 o o 5,656 o o 5,741 o o 6,546 o o 4,812 o o 12,837 o 0 8,552 o o 5,945 o o 7.058 o o 3,999 o o 2,114 ° o 4,569 o o 200 o o 2,444 o o 1.059 ° o 1 5 2 1,000 0 o 3,420 o o 356 o o £210-091 Totals 514 £201,900 0 0 £84,016 3 0 29 48-0 £256 14 7

H.-8

30

FIFTH SCHEDULE.

Appendix No. 4. ENDOWMENT ASSURANCES, WITH PROFITS, In force at 31st December, 1917.

Appendix No. 5. ENDOWMENT ASSURANCES, WITH EXTRA PROFITS, In Force at 31st December, 1917.

Nu ™ ber Valuatio Policios. As °- I Yearly Permanent Year Reduction of of Maturity. Premium. £ s. d. 2 3 10 1918 1 I I 1919 0 12 g ig-20 2 14 O I92I 1 15 10 1922 1923 O 12 O I924 1925 028! ig2(5 1927 120! 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 ig 4 6 1947 ig 4 8 1949 1950 1951 1952 1953 1954 !955 ig56 1957 1958 '959 1960 1961 1962 1963 1966 1967 Office Annual Premiums. Year of Maturity. I Amount assured. Bonus Additions. Ordinary. Extra. Net Premiums. igi8 1919 1920 1921 1922 1923 1924 1925 1926 1927 ig28 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1945 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 ig6o 1961 1962 1963 1966 1967 653 52-8 705 51-5 711 50-8 744 50-5 764 49-i 890 48-2 845 47-5 94i 45-5 872 457 932 44-4 987 44-1 947 43-1 1,014 41-9 835 40-6 876 40-5 805 39-6 893 38-4 882 37-9 806 365 748 35-8 613 353 652 34-3 663 33-7 616 322 621 31-4 442 30-7 403 30-4 363 29-7 340 29-0 339 27-5 197 28-4 169 27-2 138 259 125 25-4 149 22'4 84 24-5 93 230 go 22-8 152 I9-5 95 I9-4 24 25-1 II 20-0 II 19-8 7 i8-3 7 18-6 2 200 1 17-0 1 30-0 £ 131,350 135,824 134,248 144,300 145,985 172, gi8 157,700 166,750 162,207 178,36g 194,325 178,825 194,025 160,600 174,300 155,266 '77,855 177,770 160,050 156,425 125,250 140,300 142,325 132,150 140,950 100,250 88,650 80,350 76,150 73,7oo 43,100 40,250 29,950 24,800 29,150 17,700 19,000 17,000 19,goo 13,800 4,650 1, goo 1,800 1,150 1,300 500 200 200 1 I 1 I I l 1 £ 1. 27,839 16 28,009 9 26,349 4 26,864 12 25,372 4 29,722 2 25,719 4 25,037 1 22,709 16 23,762 3 26,107 7 21,687 19 22,362 6 16,382 15 16,308 13 I3,52i 9 14,001 10 12,063 2 9,200 7 8,3M 4 6,407 8 5,249 14 5,125 14 3,888 15 3,268 12 2,719 1 1,702 6 1,253 4 1,113 16 829 15 gi2 o 487 5 240 1 228 3 203 o 247 17 105 14 123 7 55 1 25 5 20 6 4 5 9 10 2 2 2 2 28 O £ s. d. £ s. d. 5,156 6 11 11 9 7 5,349 5 1 9 2 6 5,198 09; 15 8 6 5,681 iS o 1 27 o 7 5,754 100 16 14 11 6,561 16 11 18 7 o 5,890 12 10 7 4 9 6,330 1 11 19 7 9 6,361 18 11 19 3 7 6,685 12 7 13 1 3 7,018 17 21 15 3 6,4g9 16 7 30 11 2 7,052 7 7- 28 1 1 5,873 12 10 43 6 4 6,400 16 2 7515 7 5,504 18 6 23 7 2 6,329 80 22 10 3 6,34i 7 o 231 3 5 5,688 o 11 159 5 IO 5,472 18 IO 117 14 2 4,159 12 IO 72 2 8 4,742 15 O 80 I 4 4,656 6 11 455 o 9 4,305 1 8 308 8 8 4,587 19 o 375 17 o 3,009 2 2 122 4 11 2,646 I4 0 122 13 4 2,344 n 9 460 9 6 2,19817 6 307 11 o 2,102 18 9 333 o o 1,132 13 3 98 8 9 1,056 g 4 1000 770 14 4 177 12 o 623 4 g 105 o o 721 19 o 46 7 5 412 82 15 o 9 439 14 4 40 o 10 381 18 7 45 o 5 446 6 g 30 o o 3°6 ig 3 15 o o gg 15 10 15 1 2 39 10 3 37 1 11 22 14 10 25 52 1050 3 14 o 340 £ 4,417-393 4,583957 4,412-390 4,809-011 4,870-114 5,534-033 4,957697 5,266-614 5,3 IO -373 5,550-124 5,822-go2 5,377-047 5,794-oi3 4,816-083 5,250606 4,504-259 5,172-527 5,167-042 4,638-234 4,464443 3,369975 3,834-428 3,756-267 3,466 560 3,705069 2,398-549 2,108-046 1,856-914 1,734-696 1,655-276 878-864 823323 594556 479-723 547-552 312-207 331-802 288374 329-486 228-185 74-764 29-733 27-140 16-959 i8-8g8 7-310 2-614 2-224 23,258 250 4,625,517 78,917 455,587 6 6,453 13 162,439 10 3 2,011 2 3 133,598-356 1,602-548 in .1 7 io 4 2 jingle and Limtd. Pr'ms. 4,145 11 2 22 4 2 IO 4 2 Single and Lmtd Pr'ms. Totals • ■ 28,508 £4,704,484 £462,040 19 £164,450 12 6 £4,167 15 i £135,300904 £10 4 '2 £10 4 '2

Office Annuai j Premiums. Year of Maturity. Number of Policies. Amount assured, Bonus Additions. Net Premiums. Year of Maturity. Ordinary. Extra. 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1 I 11 10 19 13 7 13 io 8 4 12 1 3 3 £ 2,000 1,750 2,350 2,850 2,750 1,000 2,800 2,050 1,500 550 2,250 300 1,400 800 / s. d. 4100 155 17 o 142 13 o 150 6 o 90 15 o 17 9 o 73 14 o 74 7 o 20 10 o 15 8 o 41 2 o _ I £ s. d. "7 13 4 75 8 o 110 1 3 123 10 6 120 18 3 43 4 3 117 14 11 82 5 4 65 9 10 21 13 9 80 411 10 15 6 53 1 o 29 4 10 £ s. d. £ 104000 63-656 92359 103-668 102-545 36803 98-501 68-733 55-o8i 18-358 66557 8-952 45-198 24-422 1934 1935 1936 1937 1938 1939 1940 194 1 1942 1943 1944 1945 1946 1947 7 10 o Totals 15 £24,350 £823 1 0 £1,051 5 8 £7 10 0 £888-833

H.—B.

FIFTH SCHEDULE.

Appendix No. 6. LONG-TERM ENDOWMENT ASSURANCES (MATURING AT AGE 80), WITH PROFITS, In force at 31st December, 1917.

31

Age. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 77 Number of Policies. i 3 4 io 22 29 21 35 42 44 42 5i 57 61 76 72 94 88 88 109 120 » 5 124 127 123 141 138 155 138 1.37 154 116 124 157 141 "3 133 1 98 106 93 82 62 64 57 50 40 39 28 38 23 26 27 21 7 24 10 2 3 7 2 2 Amount assured, i 300 900 1,500 4,650 6,400 9,900 6,400 10,850 14,750 14,850 13,7°° 16,700 19,450 19,350 28,100 25,050 31,400 27,050 28,600 37,95o 37,150 35,75o 37,200 35,650 36,150 43•050 47,100 43,450 41,850 39,950 45,600 32,900 37,45o 43,900 40,300 36,000 43,650 28,700 29,550 28,397 22,500 20,400 18,150 13,459 13,547 8,300 11,009 6,712 12,483 9,700 4,950 6,300 6,200 2,600 5,750 6,450 400 1,700 2,700 200 600 lionus Additions. £ -• 21 1 37 11 35 8 26 5 72 2 152 7 102 6 203 18 230 4 342 7 521 12 564 9 490 n 815 7 881 15 856 2 1,570 o 1,602 16 1,618 10 1,825 1 i,775 17 1,812 18 2,064 2 2,867 17 3,463 2 3,439 4 2,756 18 3,376 16 2,580 7 ■ 3,134 o 3,672 16 3,224 6 3,285 5 3,962 15 2,463 o 2,768 9 2,427 8 2,081 19 2,134 o 1,478 n 1,349 8 1,057 i° 804 18 1,166 1 555 13 758 10 936 3 556 4 584 14 773 11 337 17 639 9 609 9 32 17 200 5 369 17 32 1 69 10 Office Annual Premiums. Ordinary. Extra. £ s. d. £ s. d. 520 14 15 o 25 o 8 76 1 8 108 7 11 1500 172 12 9 37 10 o 1 13 15 7 22 10 o 195 91 87 IO o 269 14 n 164 IC O 2S0 3 n 160 o o 259 17 6 68 15 o 329 7 4 138 10 o 386 911 60 o o 382 14 o 52 10 o 581 18 1 81 5 o 531 2 10 12 19 o 675 5 4 52 9 7 592 25 106 9 9 636 11 4 37 10 o 844 43 31 ig 6 848 25 17 19 6 822 30 45 18 o 868 14 o 30 o o 870 20 24 12 1 903 8 8 15 o o 1, no 12 7 9184 1,199 48 14 5 10 1,080 24 5810 1,076 11 5 57 13 9 1,072 18 9 26 12 4 1,248 3 2 31 6 4 927 2 4 2 14 5 1,069 16 6 4 18 3 1,295 10 5 13 15 8 1,241 17 7 6 14 9 l,"5 11 4 5 14 8 1,390 24 4 1 1 o 963 16 6 5 18 6 977 7 0 3 19 o 1,030 15 6 19 6 o 798 5 10 21 o o 726 17 9 4 8 2 j 739 90 5 9 6 522 11 5 290 591 o 5 192 357 10 o 5 7 3 458 18 4 090 306 8 8 2 6 S 776 14 10 9 19 8 490 8 7 250 13 4 o 19 1 337 67 6 15 8 320 IO 10 5 15 IO I 38 12 2 342 o 8 138 444 2 10 n 4 10 31 6 4 117 5 10 165 118 12 18 2 52 5 11 Net Premiums. £ 3-444 10537 18-045 55-205 78-773 125-833 83-808 144-035 200-294 209-523 194-266 246-487 289-334 286-534 437-954 404-976 513-716 451-341 490-088 649758 653-424 037-629 672-269 679-128 708-224 874-544 948-450 847-487 847-585 852-531 994-415 738-350 854-769 1,035621 999 000 901 892 1,129-477 782-596 793-795 849-975 652-731 592-096 615-636 433-372 489-983 299-658 382-314 255-205 662-955 418-754 208-683 286-579 269-130 118-662 290-311 381758 27-099 102-882 141-223 11 068 46-301 Yearly Permanent Reduction of Premium. £ -■ d. Age. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 77 Totals | 4,116 £1,255,707 £77,572 19 £35.573 18 2 £1,554 3 5 £28,381-512

H.—B

32

FIFTH SCHEDULE.

Appendix No. 7. DOUBLE-ENDOWMENT ASSURANCES, WITH PROFITS, In force at 31st December, 1917.

Appendix No. 8. TEMPERANCE NON-PROFIT SECTION (Constituted according to Section 39, Government Life Insurance Act, 1908). In force at 31st December, 1917.

Year of Maturity. Number of Policies. Valuation Age. Amount assured. Bonus Additions. Office Annua: Ordinary. l Premiums. Extra. Premiums. Year of Maturity, 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 ig28 1929 1930 I93i 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1962 42 52 98 161 84 129 149 161 175 187 267 328 369 366 315 437 454 420 421 464 355 418 422 473 465 412 455 461 465 571 296 278 37° 379 363 1 £ 10,700 12,900 22,650 41,000 21, 100 33,400 35, 800 44,900 44,700 50,800 68,550 83,800 99, 200 91,7°° 78,100 112,400 I TO,800 I08,5OO log,400 115, 800 93,200 in ,300 108,300 128,400 125,100 114,500 130,100 125,300 140,600 170,700 74,200 68,100 97, 800 100,200 92,35o 200 £ s776 18 850 IO 1,902 2 3,242 9 I,406 2 2,128 7 2,050 14 2,8ll 9 2,599 9 2,581 2 3,557 o 3,942 11 4.736 17 3,779 11 2,885 19 4,027 19 3,831 6 3,217 5 2,681 5 2,772 3 2,187 3 2,152 9 1,761 13 i,93i 19 1,839 13 2,040 19 i,554 15 952 12 749 7 762 3 594 4 217 16 11 19 £ t. d. 515 8 5 653 3 4 850 ig 4 1,448 17 4 873 11 o 1,323 17 5 1,440 1 10 1,677 7 11 1,631 g 3 1,850 4 g 2,287 2 2 2,767 16 g 3,193 4 10 2,g66 ig 5 2,496 18 10 3,414 o 8 3,261 15 3 3,187 O 2 3,244 II IO 3,269 6 11 2,477 8 5 2,908 13 7 2,816 7 1 3.3" 5 3 3,131 2 4 2,548 2 8 2,902 18 5 2,805 19 8 3,164 15 9 3,810 11 o 1,463 11 o i,347 11 9 1,923 5 11 1,968 o 1 1,824 12 3 2 12 4 £ t. d. i V 5 8 500 35 o o 90 o o 41 5 o £ 468-625 1918 600000 igig 759-625 1920 1,293-550 1921 779-175 ig22 1,179-500 1923 1,277-800 1924 i,4755oo 1925 1,438-714 1926 1,623-500 1927 i,9g2-400 1928 2,411-150 ig2g 2,772-175 ig30 2,572-275 1931 2,151-400 ig 3 2 ig33 2,796950 1934 2,7i8-475 1935 2,770-875 ig36 2,759-900 ig37 2,o88-goo ig38 2,452-75° 1939 2,361-746 ig40 2,770-225 1941 2,606-775 1942 2,092-225 1943 2,390-968 1944 2,307-114 1945 2,603-875 1946 3, "3775 1947 1,150-100 1948 1,055-55° 1949 i,5i4-475 1950 i,553-ioo 1951 i,43i'425 1952 2-062 1962 250 o o 273 15 o 80 0 o 402 IO o 461 5 7 ig7 10 0 481 5 o 348 15 7 148 15 o 11,263 26 2,976,550 3,032 72,537 10 212 12 80,760 14 11 2,816 6 10 68,277-679 Paid-up Policies.. Totals 11,289 £2,979,582 £72,750 2 £80,760 14 11 £2,816 6 10 £68,277'679

Age attained. Number .___,. Additions Office Annu. ° f assured (allotted — Policies. assmcu. previous to fWHnovir transfer). ordinary. tL Premiums. Net Premiums, Ago attained. Extra. Assurances for the whole Term of Life, with W HOLE-LIFE Pu: MIUMS. I I 61 72 £ £ s. d. £ s. d. i 300 .. 6 14 6 1 200 4 18 o 584 £ 3 oo 200 £ : d. 4 18 o £ *• d. 6 14 6 5 8 4 £ 5-469 4-912 61 72 Totals i 2 ' ' £500 £4 18 0 £12 2 10 £10*381 I

33

H.—B.

FIFTH SCHEDULE.

Appendix No. 9. ASSURANCES FOR THE WHOLE TERM OF LIFE, WITH WHOLE-LIFE PREMIUMS, WITHOUT PROFITS, In force at 31st December, 1917.

5—H. 8.

Office Annuai ■„ Premiums. Age attained. Number of Policies. Amount assured. Net Premiums. Age attained. Ordinary. Extra. I I 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 65 67 68 70 3 9 10 14 28 £ 800 £ : d. 1000 £ «. d. £ 9-311 39-934 32-006 55-519 87-388 160077 86-347 134-188 129-762 210-913 249155 270-354 393-288 600 682 617-791 764-598 659-447 .584-429 1,011-655 788-553 897-137 883-654 710-235 679-261 941-370 1,220-495 570-151 801-777 938903 653-023 656-163 739'23i 695-525 653-410 654-636 5gg-8i6 798-108 444-375 407-939 530-260 413-922 230-512 220-032 168-285 130-299 529-191 295-022 97-297 168-281 6-545 64-871 57-384 36-510 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 65 67 68 70 43 27 38 3i 45 42 57 77 95 IOO 107 log 90 138 114 "5 106 107 101 117 122 77 95 99 65 75 76 72 62 63 47 59 36 26 25 34 17 15 15 8 18 3,300 2,600 4,400 6,850 12,150 6,350 9,750 9,300 14,350 16,700 17,850 25,000 37, 600 37. J 5o 44,900 37,9oo 32,500 54,7oo 41,500 46,goo 44,o5o 34,050 31,900 42,300 52,350 23,900 33,050 36,850 24,400 24,000 25,950 23,050 21,850 20,800 18,150 22,400 12,150 10,350 13,450 10,450 5,7oo 5,100 3,650 2,800 9.35o 5,600 1,650 2,800 IOO 850 850 500 43 10 11 34 10 1 60 9 2 95 11 4 172 14 5 92 2 3 144 8 10 138 12 11 224 12 10 264 19 6 290 o 5 418 12 1 638 1 3 655 14 3 809 10 3 700 8 3 620 2 2 I 1068 IO o 831 O II 944 3 6 928 9 9 748 11 o 712 15 9 g87 5 10 1,278 19 6 597 8 10 840 19 9 983 18 7 682 3 3 685 13 o 77° 4 11 723 4 5 679 17 10 683 18 IO 624 13 5 825 12 2 461 1 1 423 11 6 545 8 10 429 17 o 238 14 9 224 15 9 173 9 10 135 7 9 54i 1 11 303 3 9 99 17 4 172 o 9 6 17 o 66 16 7 58 11 8 37 4 7 178 15 o 210 o o 255 o o 205 o o 170 o o 277 10 o 182 IO o 167 IO o 118 o o 204 o o 355 o o 85 o o 203 9 6 60 o o 65 o o 21 5 o 47 11 6 76 IO o 94 10 o 35 o o 15 o o 22 IO O 69 O O 93 10 o 117 IO o 25 o o 9 10 o 300 300 12 15 o 7 10 o 300 I IO o 200 100 500 IOO 11 7 10 1 2 OIOO 500 3 15 o 2 1 Totals 2,863 £1,026,950 £24,929 12 3 £3,412 11 0 £23,779'017

H.—B

34

FIFTH SCHEDULE.

Appendix No. 10. ASSURANCES FOR THE WHOLE TERM OF LIFE BY LIMITED AND SINGLE PREMIUMS, WITHOUT PROFITS, In force at 31st December, 1917.

Appendix No. 11. ENDOWMENT ASSURANCES, WITHOUT PROFITS, In force at 31st December, 1917.

Age Nu attained. p o] Nu ™ beI Amount Y ° ar Policies. assured - Expiry. ami of )lici Number of Policies. Average Age attained. Office Annual Premiums. Ordinary. Extra. Net Premiums. 29 30 31 33 35 36 37 41 43 45 46 47 48 50 £ 3 900 i 250 1 200 1923 2 600 1926 3 900 1927 1 200 1931 1 1,000 1935 1 200 1936 1 200 1937 1 100 1946 2 5°° 2 600 3 1 1 2 3 1 1 1 1 1 2 2 1 1 £ s. d. £ s. d. £ i i i 48-5 415 47-5 47'5 37'7 35-5 323 29-5 58 IO o 10 3 2 13 4 o 1 16 0 14 14 0 76 13 6 5 16 4 39 5 10 670 57-370 10-216 12-234 13-578 74-600 5-614 38710 5-913 i 9 i 4 i 1 1,000 1 200 Totals ! 21 £6,850 19 37-8 £224 13 10 £1 16 0 £218-235

Year of Maturity. Number ValuaUon Policies. Age - Amount assured. Office Annua] Ordinary. Premiums. Extra. Net Premiums. Year of Maturity. 1932 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1 32-0 18 42-0 21 42-0 37 4f6 28 38-4 16 35-4 46 36-1 35 34'9 68 33-7 40 31-8 21 39-0 16 30-8 15 22-7 24 25-7 £ 300 5,950 4,75° 10,500 8,600 5.500 9,000 8,850 20,350 10,900 6,450 5,050 2,600 4,5oo £ s. d. 12 12 6 205 19 9 165 II 7 367 19 10 295 16 o 186 3 1 283 16 9 286 4 IO 602 9 2 297 5 2 190 9 o 138 13 8 68 9 6 122 2 10 £ »■ d. 500 33 15 o 54 16 2 7 10 o £ 11-652 188-189 152-308 337-598 270-250 170-385 257-747 259-753 548-161 268-075 170-851 125-203 60-193 108-574 1932 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 Single and Ltd. Pr'ms. 386 103,300 300 3,223 13 8 101 1 2 2,928-939 Single and Ltd. Pr'ms. 1 £3,223 13 8 Totals 387 £103,600 £101 1 2 £2,928939

35

H.-8.

F/FTH SCHEDULE.

Appendix No. 12. Table showing the Minimum Surrender Value of Policies for £100.

Whole-life Assurance by Equal Annual Premiums , Endowment e . Assurances payable for the . _,.. „ *m- , t, r r -* in Fifteen Years, or at Whole Term of Life. . _ . previous Death. Endowment Assurances payable in Twenty-five Years, or at previous Death. Endowment Assurances payable in Thirty-five Years, or at previous Death. True Age at Entry. MINIMUM SURRENDER VALUES AT THE END OF 5 Years. 10 Years. 15 Years.: 25 Years. 35 Years. 5 Tears, 14 Tears. 5 Tears. 10 Tears. 20 Tears. 24 Tears. 5 Years. 10 Years. 20 Years. 30 Tears. 34 Years. I I £ s. a. £ s. a. : £ s. a. ; £ s. a. £ s. a. 10 2 0 18 18 0 30 7 0 £ s. a. £ s. a. £ s. a. £ s. a. s s. a. £ s. a. £ s. a. £ s. a. I £ s. a.; £ a. a. £ b. a. 15 3 10 6 8 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 37 8 0 ! 72 1 0 91 3 0 20 2 16 0 6 19 0 11 4 0 21 15 0 34 17 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 37 8 0 71 6 0 90 12 0 25 3 10 0 8 7 0 ! j | 13 8 0 25 15 0 i 40 7 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 37 8 0 10 14 0 89 18 0 30 4 2 0 9 18 0 16 1 0 30 4 0 45 19 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 37 8 0 70 0 0 89 3 0 35 4 19 0 12 0 0 19 3 0'35 5 0 51 17 0 25 0 0 89 5 0 11 8 0 26 10 0 67 5 0 90 2 0 6 11 0 15 8 0 37 8 CT69 6 0 88 6 0 6 2 0 14 10 0 22 17 0 40 10 0 57 9 0 26 17 0 45 19 0 62 4 0 31 0 0 51 4 0 65 14 0 24 6 0 88 7 0 11 4 0 26 6 0;65 14 0 88 12 0 7 4 0 16 19 0 38 15 0 68 12 0 87 8 0 40 45 7 7 0 17 5 0 23 16 0 87 14 0 11 5 0 126 8 0 64 15 0 : 87 15 0 50 8 17 0 20 9 0 23 5 0 1 87 0 0 11 10 0!26 17 0 63 11 0 86 13 0 55 10 10 0 23 14 0 35 10 0 55 12 0 | 69 16 0 22 12 0 86 1 0 12 2 0 27 12 0 i 62 9 0 85 9 0 60 12 3 0 27 5 0 39 16 0 58 10 0 j 77 17 0 21 12 0 84 15 0 NOTE.— In addition to the above Values the full H M - 4i per cent. Cash Value of all existing ordinary Bonuses is granted.

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37

ACTUARY'S REPORT ON THE VALUATION OV the government insurance department AS AT 31st DBCEMBBE, 1917.

Presented to both Houses of the General Assembly pursuant to Section 40 of the Government Life Insurance Act, 1908.

Wellington, 19th April, 191b. In accordance with instructions received I have made a valuation as at the 31st December last of the actuarial liabilities of the Department, with the object of ascertaining the net surplus available for division amongst the policyholders, and in compliance with section 40 of the Government Life Insurance Act, 1908, I have now the honour to report the results of the investigation. Progress op the Department. The progress of the Department during the last three years when compared with the three previous trienniums, in respect of new business and total business in force, is as follows :—

From the above it will be seen that there is a considerable falling-off in the new business, which is wholly accounted for by the number of men engaged in the Expeditionary Forces. In this connection it has to be remembered that life-insurance companies are charging inadequate rates for the war risk, so that an undue accession of new business at the present juncture would be a direct cause of immediate loss. The Consolidated Eevenue Account, given below, shows the total income and expenditure for the past three years, and the growth of the funds of the Department during the triennium.

New Business of Trio: mium. ium. Annual Premiums. In Force at End of Triennium. Triennium. Number of Policies. Sums assured. .Reversionary Bonuses. 1906-1908 1909-1911 1912-1914 1915-1917 Number ol ' Sums Policies. assured. £ 9,739 2,261,767 •10,476 2,487,472 11,721 8,197,694 10,129 2,709,163 £ 72,803 77,477 89,715 90,017 £ 47,033 10,955,749 49,376 11,514,657 52,273 12,550,465 53,058 12,884,531 £ 1,068,950 1,168,620 1,246,610 1,304,243 Annual Premiums. £ 331,830 348,285 370,882 387,377 J

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38

Consolidated Revenue Account.

Income. —The chief item of importance on the income side, besides a substantial increase in the premiums, is the revenue from interest, which exceeds by £73,564 the interest earnings of the previous three years. The average rate of interest realized each year for the past six years has been as follows :— Rate of Interest (deducting Taxes from Interest). £ s. d. . £ s. d. 1912 .. .. .. 4 7 11 1915 .. .. .. 4 11 1 1913 .. .. .. 4 810 1916 .. .. .. 415 1 1914 .. .. .. 4 10 7 1917 .. .. .. 4 16 3 These figures were obtained by dividing the interest, less land and income tax, by the mean of the funds at the beginning and end of the year, and they show that the net rate of interest earned on the Department's investments has materially increased. Outgo. —The claims show an increase of £236,898, of which £224,073 represents claims on the lives of soldiers on foreign service and others who died abroad and whose deaths are directly attributable to the war. For the first time in the history of the Department, and for the reason indicated, the rate of mortality for the triennium has exceeded that assumed in the valuation. The sum paid to the holders of endowment assurance or endowment policies who survived the selected terms amounted to £486,537, and illustrates how popular this form of investment has now become. Commission and expenses of management show a reduction of over £10,000, and for the year ended 31st December, 1917, amount to 9-3 per cent, of the total income less taxes, as compared with 11*2 per cent, for the corresponding year of the previous triennium. The Valuation. The business to be valued consisted of 53,058 policies, assuring £14,188,774, inclusive of bonus additions, and £22,123 immediate and deferred annuities per annum, the ordinary annual premiums thereon amounting to £374,210. The Department also receives £13,102 per annum representing additions to the tabular premiums, mainly imposed on policies recently effected to cover active military service abroad. These extra premiums are assumed to cover the current year's extra risk, and are not brought into the valuation as an asset. Basis of Valuation.— -The net premium method of valuation has been strictly adhered to, whereby the whole margin of loading has been reserved as a provision for future expenses. The H m Table of Mortality, with 3-| per cent, interest, has been used for assurances, aud the British Offices Life Annuity Tables (1893), using 3 per cent, interest, for annuities. £ The value of the total liability under the several contracts is ... 8,371,093 Deduct the value of the future net premiums ... ... ... 3,388,485 4,982,608 The accumulated funds (after making further provision of £99,704 towards the Investment Reserve Fund) are ... .... 5,199,320 Difference, being excess of assets over liability, or gross surplus at 31st December, 1917 ... ... ... £216,712 The Surplus. Of the surplus, £216,712 (which does not include the interim bonuses paid during the triennium, amounting to £19,770), I recommend that £11,421 be carried forward, and that £205,291 be divided amongst all the participating policyholders in the form of a uniform reversionary bonus per cent, on the sum assured and existing bonuses for each premium paid since the previous valuation. • ■ ■ {.

Triennium ending 31st Dece: iber, 1917. Previous Triennium. Triennium ending 31st Decei iber, 1917. Previous Triennium. Funds at beginning of triennium ■ Benewal premiums New premiums .. • Consiaeration {or annuities Interest Pees £ 5,033,884 1,050,081 84,273 35,580 774,482 £ 4,699,970 986,253 89,689 39,264 700,918 22 Death claims Matured claims .. Annuities paid Surrenders Bonuses surrendered for oash Commission Taxes Expenses Investment reserves Funds at end of triennium.. £ 722,586 486,537 56,421 156,280 17,394 66,583 49,013 124,462 99,704 5,199,320 £ 485,688 433,855 53,269 160,724 18,694 72,045 46,947 129,552 75,458 5,033,884 Totals Totals £6,978,300 £6,516,116 £6,978,300 £6,516,116

39

H.—8.

The result is that the General and Temperance Sections respectively will receive compound bonuses of 20s. per cent, upon the sum assured and existing bonuses for each year's premium paid since last valuation, the total reversionary bonus so allotted amounting to £322,090. This compound bonus of 20s. per cent, is equivalent to a simple bonus commencing at 20s. per cent, per annum to new policies, and increasing with the duration of the contracts to 345. per cent, per annum in the case of the older policies. Owing to the war there has been a further fall in- the market price of Government and other securities quoted on the Stock Exchange, and of course every increase in the rate of interest further depreciates the value of stock bearing a lower rate. The securities will naturally rise in value as they approach maturity, but in the meantime it has been thought inadvisable to value them at more than their market value. A further sum of £99,704 has therefore been carried to the Investment Fluctuation Reserve, bringing the amount up to £288,825. Owing to the decrease in the value of securities and the increased return on investments, the proposed reduction of the valuation basis for assurances to 3J per cent, interest has been postponed. The assumption, however, of so low a future interest-earning power as 3f per cent, in view of the increasing interest returns, coupled with the large provision for the possible depreciation of securities, renders the valuation a very stringent one. A complete valuation statement, prepared in accordance with the Government Life Insurance Act, 1908, is appended. Respectfully submitted, Percy Muter, The Government Insurance Commissioner. Actuary.

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40

Summary and Valuation of the Policies of the New Zealand Government Life Insurance Department as at 31st December, 1917.

Approximate Cost of Paper .—Preparation, not given ; printing (1,750 copies), £75.

Authority : Mabct/s F. Marks, Government Printer, Wellington.—l9lB.

Price Is.]

Particulars of Policies for Valuation. 1 Assurances : Hm Table, interest. Values -' Annuities : British Offices Annuity Tables, 1893, ( 3 % Interest. DESCRIPTION OF TRANSACTIONS. Number of; Sums assured ; Office Yearly Net Policies. and Bonuses. Premiums. Premiums. Sums assured i Office Yearly Net Net and Bonuses. Premiums. Premiums. Liability. i I I ASSURANCKS. I.—With Participation in Profits. Whole-life Assurances —Uniform Premiums Limited, Single, and Commuted Premiums Endowment Assurances —Uniform Premiums.. Limited, Single, and Commuted Premiums With extra Profits Double Endowment Assurances— Uniform Premiums .. Limited, Single, and Commuted Premiums Deferred Endowment Assurances —with return of Premiums Joint Life —Whole-life Assurances Survivorship Assurances 7,841 514 27,374 250 11,263 £ 2,822,653 285,916 6,414.384 85,371 25.173 3,049,087 £ 53.141 257 198,003 2,011 80,761 £ 44,962 210 161,970 . 1,602 889 68,278 £ 1,863,512 206,476 4,028,439 45.250 15.623 1.472,753 £ 499,164 963 2,081 ,971 17,438 14,428 1,004,302 £ 414,581 780 1,680,342 13,661 12,176 839,446 £ 1,448,931 205, 696 2,348,097 31,589 3,447 633,307 26 54 J 7 2 3,245 13.750 7>°54 579 t 16,922 jand deferred (annuity, £3,245 "258 284 782 ! 212 226 I 5 2,110 690 4,056 83 2, no 690 1,367 38 3^83 68 2,689 45 Annuity Assurances .. .. .. .. 64 720 22,255 7,045 6,513 !5,74 2 Reserve for extra Premiums 3,548 2 ,97o,233 _3,548 Additional Reserve of Loading Total Assurances with Profits j 47.520 I 7,664,795 .. De di 2,970,233 duct 5,152 luct 5,152 j 4,694,562 Add 5,152 12,724,134 336,556 279.074 3,628,762 2,965,081 4,699,714 II.—Without Participation in Profits. Whole-life Assurances— Uniform Premiums .. „ Limited, Single, and Commuted Premiums Endowment Assurances —Uniform Premiums „ Limited, Single, and Commuted Premiums Deferred Whole-life Assurances, with return of Premiums Deferred Endowment Assurances „ Joint Life —Whole-life Assurances Survivorship Assurances Industrial Assurances Temporary Assurances Total Assurances without Profits Total Assurances .. .. .. 2,865 21 386 1 57 448 2 J .027, 455 6,850 103,300 3OO 25,850 90,400 I , IOO 4,000 60 1,950 24,942 225 3.223 197 1,411 23,789 218 2,929 177 1,252 44 53 433.439 2,933 52,846 206 596 4,178 633 357 30 12 397.614 2,201 46,185 378,537 2,136 4 T ,933 54,902 797 10,913 206 596 4,178 98 94 3° 12 4 3 n 49 64 1 596 320 I 535 263 31 3.798 1,261,265 30.143 28,462 495,230 446,916 423,404 71,826 4,771,540 13.985,399 366,699 307i536 8,160,025 4,075,678 37388,485 ENDOWMENTS. Simple Endowments, with return of Premiums Endowments —Premiums cease on death of Purchaser.. Total Endowments .. .. .. 991 347 159,025 44,350 5,728 !,777 5.058 i 1,580 42,853 14,093 42,853 14,093 1,338 203,375 7.505 6,638 56,946 56,946 ANNUITIES. Immediate .. .. .. .. ... Deferred . Total Annuities Total of the Results .. (Per annum.) 401 18,858 I 20 402 T8.8-78 I fi 1 ~ 153,935 187 *53, 935 402 402 15,078 18.878 _6 : 154, 122 154, 122 154, 122 53.058 14,188,774 ' 374,210 314,174 8,371,093 4,075,678 and £22,123 j and £13,102 i per annum. extra premium (not valued). 3,388,485 I 4,982,608 II