<!DOCTYPE ETS PUBLIC "-//UMDLPS//DTD EEBOPROOF 2.0//EN">
<ETS>
<TEMPHEAD>
<REVDESCR>
<CHANGE>
<DATE>2014-10-09</DATE>
<RESPSTMT>
<NAME>TCP Staff (Michigan)</NAME>
<RESP>MURP</RESP>
</RESPSTMT>
<ITEM>Proofed and reviewed as part of batch B140716.pdcc.</ITEM>
</CHANGE>
</REVDESCR>
</TEMPHEAD>
<EEBO>
<IDG S="marc" R="UM" ID="B29327">
<STC T="W">S861</STC>
<BIBNO T="oclc">[ocm]17196702</BIBNO>
<VID>206384</VID>
</IDG>
<TEXT LANG="eng">
<BODY>
<DIV1 TYPE="text">
<PB N="1" REF="1" MS="y">
<HEAD>A SCHEME for Erecting <HI>A Friendly Society</HI> For In&s;uring LIVES, BEING A Beneficial PROPOSAL</HEAD>
<HEAD TYPE="sub">For all Per&s;ons po&s;&s;e&s;&s;ed of any Bi&s;hops, Dean and Chapters Lea&s;es, or any other Lea&s;e or Lea&s;es determinable on one or more <HI>Life</HI> or <HI>Lives,</HI> Annuities in the <HI>Exchequer,</HI> or Places: As al&s;o a <HI>Certain Advantage</HI> to all Clergymen and other Per&s;ons, who are de&s;irous to make <HI>&s;ome Provi&s;ion</HI> for their <HI>Wives</HI> and <HI>Children,</HI> or <HI>Relations,</HI> after their <HI>Decea&s;e,</HI> by <HI>In&s;uring</HI> to their <HI>Wives</HI> and <HI>Children,</HI> or &s;uch others as they &s;hall appoint, a <HI>Con&s;iderable Dividend</HI> out of 10000 <HI>l.</HI> on His, Her or Their <HI>Deaths.</HI></HEAD>
<DIV2 TYPE="proposals">
<HEAD>'Tis Propo&s;ed,</HEAD>
<P N="1">I. THAT 12000 <HI>l. per Annum,</HI> to be divided into 2000 Shares, at 6 <HI>l. per Annum</HI> each, &s;hall be &s;ub&s;cribed for; to be paid by each Sub&s;criber during the re|&s;pective Lives of certain Per&s;ons to be nominated, as herein after is men|tioned.</P>
<P N="2">II. That any Per&s;on may &s;ub&s;cribe for as many Shares as he plea&s;es,
<NOTE PLACE="marg">Note, <HI>If a Sub|&s;criber names his own Life, then his Executor, or Ad|mini&s;trator, or &s;uch other Per&s;on as he &s;hall by his Will, or other Writing appoint, will be intituled to the Dividend upon his Death: But if he names the Life of any other Per&s;on then upon the Death of &s;uch Per&s;on, the Sub&s;criber him&s;elf, his Executors, or Administra|tors, or &s;uch other Per&s;on, as he &s;hall by his Will or other Writing appoint, will be intituled to the Dividend.</HI></NOTE> and may nominate either his own, or any other Life or Lives; but no one to &s;ub&s;cribe for more than 5 Shares on one Life.</P>
<PB N="2" REF="2">
<P N="3">III. That the Per&s;on or Per&s;ons for who&s;e Life or Lives any one &s;ub|&s;cribes, &s;hall be healthful, and be above the Age of Twelve Years, and under the Age of Fifty.</P>
<P N="4">IV. That &s;o &s;oon as the Sub&s;crip|tions &s;hall be compleated, Twelve Tru&s;tees &s;hall be cho&s;en out of the Sub&s;cribers for the Management of the Affairs of this Society; for which purpo&s;e publick Notice &s;hall be gi|ven where a Li&s;t of all the Sub&s;cri|bers Names may be &s;een; as like|wi&s;e the Time and Place ap|pointed for the chu&s;ing the &s;aid Tru&s;tees, and each Sub&s;criber &s;hall then and there deliver a Li&s;t of the Twelve Per&s;ons he votes for, with his own Hand: Which Li&s;t &s;hall be filed and regi&s;tred, and an impar|tial Scrutiny made at the &s;ame time and Place, by Four Per&s;ons to be cho&s;en out of the Sub&s;cribers there pre&s;ent.</P>
<P N="5">V. That after the Tru&s;tees are cho&s;en, they, or the major Part of them, &s;hall, as &s;oon as conveniently may be, make choice of a Place for keeping the Office of this Society, and likewi&s;e of a Ca&s;hire, and &s;uch other Officers and Servants, as they &s;hall judge nece&s;&s;ary; and &s;ufficient Security &s;hall be taken by the &s;aid Tru&s;tees for the Hone&s;ty and Inte|grity of &s;uch Ca&s;hire, who &s;hall from time to time receive all Monies a|ri&s;ing by this Office: And &s;uch Mo|ney, when it amounts to One hun|dred Pounds, &s;hall be immediately delivered over to the &s;aid Tru&s;tees.</P>
<P N="6">VI. That the fir&s;t Tru&s;tees, when cho&s;en, &s;hall continue fifteen Months, but afterwards Twelve Tru&s;tees &s;hall be annually cho&s;en, as in Ar|ticle the 4th. and in every Li&s;t to be delivered in for chu&s;ing new Tru|&s;tees, Four of the old Tru&s;tees of the preceeding Year, &s;hall be incert|ed, and Eight new ones; and no one &s;hall continue a Tru&s;tee above Three Years &s;ucce&s;&s;ively.</P>
<P N="7">VII. That any Five or more of the Tru&s;tees &s;hall make a &s;ufficient <HI>Quorum</HI> to approve the Lives, and no Life on which more than one Share is &s;ub&s;cribed, &s;hall be allowed, unle&s;s the Per&s;on who&s;e Life is no|minated, do per&s;onally appear before the Tru&s;tees. But as to the Di&s;patch of all other Bu&s;ine&s;s re|lating to this Office, any Three of the Tru&s;tees &s;hall make a &s;ufficient <HI>Quorum</HI> to do the &s;ame, (Except where it is otherwi&s;e provided for by the&s;e Articles) and no Tru&s;tee to have a Vote in his own Ca&s;e, but to withdraw during the Debate.</P>
<P N="8">VIII. That within Two Months after the Tru&s;tees are cho&s;en, each Sub&s;criber &s;hall nominate his Life, and at the &s;ame time &s;hall make his fir&s;t yearly Payment, for which the Ca&s;hire &s;hall then give a Receipt; and in Four Days afterwards &s;uch Per&s;on &s;hall receive a Policy under the Hands and Seals of Three of the Tru&s;tees upon Delivery up of his &s;aid Receipt. And in Ca&s;e any Per&s;on, who&s;e Life is nominated, &s;hall happen to die before the Policy is delivered, then the Sub&s;criber, or &s;uch as claim under him, &s;hall not|with&s;tanding, in &s;uch Ca&s;e, be in|tituled to the Dividend of that Year. And all Policies &s;hall bear date up|on the Day of chu&s;ing the Tru|&s;tees.</P>
<P N="9">IX. That in Ca&s;e any Per&s;on &s;hall neglect or refu&s;e to nominate &s;uch Life as &s;hall be approved of by the
<PB N="3" REF="2">Tru&s;tees, within the time limited by Article the 8th. the Tru&s;tees &s;hall have Power to admit a new Sub|&s;criber in his Room; and &s;uch Per|&s;on &s;o refu&s;ing or neglecting, to be excluded all Benefit of this Propo|&s;al.</P>
<P N="10">X. That no Per&s;on's Life &s;hall be nominated, but who &s;hall be re&s;i|dent in <HI>England</HI> or <HI>Wales;</HI> and if any Per&s;on, who&s;e Life is nomi|nated, &s;hall die in any other Place, or is &s;entenced to Death, and &s;uf|fer, no Per&s;on &s;hall be intituled to any part of that years Dividend on &s;uch Death; but neverthele&s;s, &s;uch Per&s;on as would have been intituled, in Ca&s;e the Nominee had died a na|tural Death in <HI>England</HI> or <HI>Wales,</HI> &s;hall, within one Month afterwards, name another Life, to be approved of, as in Article the 7th. And in Default of &s;uch Nomination, the Tru&s;tees &s;hall be at liberty to ad|mit another Sub&s;criber in his Room.</P>
<P N="11">XI. That Six-pence <HI>per</HI> &s;hare be paid by every Sub&s;criber, when he nominates his Life for each &s;hare he &s;ub&s;cribes for, which is to be ap|plied by the Tru&s;tees towards the Charges of Printing and Publi&s;hing this Propo&s;al, and the Re&s;idue (if any be) to be put into the publick Stock: Be&s;ides which, each Sub&s;cri|ber &s;hall at the &s;ame time pay 7 <HI>s.</HI> for each &s;hare he &s;ub&s;cribes for, towards the Charges of Policies, providing Books, and other nece&s;|&s;ary Expences; and every Year af|ter the fir&s;t, each Sub&s;criber &s;hall al&s;o pay 12 <HI>d. per Annum</HI> for each &s;hare he &s;ub&s;cribes for, over and above his yearly Payment of 6 <HI>l.</HI> towards the annual Charges of this Office.</P>
<P N="12">XII. That all &s;ucceeding yearly Payments &s;hall be made on the fir&s;t <HI>Monday</HI> after the end of each re|&s;pective Year (reckoning the Year from the Day on which the fir&s;t Tru&s;tees are cho&s;en.) And in Ca&s;e any Sub&s;criber &s;hall not make his &s;aid yearly Payments till a Month after they re&s;pectively become due, &s;uch Sub&s;criber &s;hall forfeit Ten &s;hillings for every Kalendar Month in which he &s;hall &s;o make Default. And in Ca&s;e any Sub&s;criber &s;hall not within one Kalendar Month after Notice in Writing &s;igned by any Three of the Tru&s;tees for the time being, given to &s;uch Sub&s;criber or his Agent, to be appointed, as in Article the 21&s;t. pay all Arrears of his &s;aid yearly Payments, and all Forfeitures incurred due for the &s;ame, &s;uch Sub&s;criber, and all claim|ing by or under him, &s;hall from thenceforth be excluded all Bene|fit and Advantage ari&s;ing by the&s;e Propo&s;als, and then, and in &s;uch Ca&s;e the Tru&s;tees, or any Three of them, &s;hall admit a new Sub&s;criber in his Room.</P>
<P N="13">XIII. That after the Sum of 12000 <HI>l.</HI> is paid into the Hands of the Tru&s;tees, 10000 <HI>l.</HI> thereof &s;hall (as &s;oon as conveniently may be) be laid out into a Purcha&s;e of Land, Ground-Rents, Fee-Farm Rents, Bankers A&s;&s;ignments, or other &s;uf|ficient Security, to be &s;ettled on the Tru&s;tees, as Coun&s;el &s;hall ad|vi&s;e, for a Fund to an&s;wer all Claims that &s;hall be made upon this Office. And till &s;uch Purcha&s;e can be found out, the &s;aid 10000 <HI>l.</HI> &s;hall be lodg'd in the Bank of <HI>England,</HI> on their &s;ealed Bills.</P>
<PB N="4" REF="3">
<P N="14">XIV. That 2000 <HI>l.</HI> (part of the 12000 <HI>l.</HI> in Article the 13th) &s;hall be divided the fir&s;t Year (reckon|ing the Year from the Day the Tru&s;tees are cho&s;en) among the Nominors, or tho&s;e intituled by or under them, of &s;uch Lives as &s;hall die within that Year; and 10000 <HI>l.</HI> every Year afterwards.</P>
<P N="15">XV. That every Per&s;on, upon Receipt of his &s;hare or &s;hares of the yearly Dividend of 10000 <HI>l.</HI> &s;hall nominate another Life or Lives to &s;upply the Place of the Per|&s;on or Per&s;ons decea&s;ed; and at the time of Payment of &s;uch yearly Dividend, 12 <HI>l.</HI> and no more, &s;hall be deducted out of each &s;hare there|of; which 12 <HI>l.</HI> &s;hall be &s;topped to an&s;wer the two fir&s;t yearly Pay|ments of the Per&s;on nominating a new Life or Lives; and when &s;uch Per&s;on nominates a new Life, he &s;hall receive a new Po|licy or Policies,
<NOTE PLACE="marg">Note, <HI>All new Policies to be gi|ven, &s;hall be dated the &s;ame Day, on which the la&s;t yearly Payment preceeding the time of making &s;uch Policy, be|came due; to the end that all the yearly Payments, as well of the old as new Sub|&s;cribers, may be|come due, and be paid at one and the &s;ame time.</HI></NOTE> pay|ing for each Policy Six &s;hillings, or pro|portionably for &s;o many &s;hares as the &s;aid Policy &s;hall be for. And in Ca&s;e any Per&s;on, upon his Receipt of his &s;aid Dividend, &s;hall re|fu&s;e to nominate an|other Life or Lives, or &s;hall not nomi|nate &s;uch as &s;hall be approved of by the &s;aid Tru&s;tees, &s;uch Per&s;on &s;hall forfeit the &s;aid Money deducted out of his Dividend, as afore&s;aid, and &s;hall from thence|forth be excluded all further Bene|fit of this Propo&s;al, and the Tru|&s;tees &s;hall admit any other Per&s;on in his Room.</P>
<P N="16">XVI. That within a Month af|ter the Death of every Per&s;on, who&s;e Life is nominated, a Certificate &s;hall be produced to, and left with the Tru&s;tees of the Death of &s;uch Per&s;on, &s;igned by the Mini&s;ter and Churchwardens of the Pari&s;h where &s;uch Per&s;on died, together with an <HI>Affidavit</HI> in Writing, of its being duly &s;igned by the &s;aid Parties; but before &s;uch Certificate is &s;igned, Notice &s;hall be given to the Tru|&s;tees of the Death of &s;uch Per&s;on, and where and when he died; to the Intent that the Tru&s;tees may (if they think &s;it) appoint &s;ome Per&s;on that they know, to be a Witne&s;s to the &s;igning of the Cer|tificate.</P>
<P N="17">XVII. That to the intent, no Per&s;on may be excluded his Divi|dend of that Year, in which his Life drops,
<NOTE PLACE="marg">Note, <HI>This will prevent all Di&s;|putes that may cri&s;e after a Di|vidend is made.</HI></NOTE> tho' but a Day before the end of the Year, no Di|vidend &s;hall be made, till a Month after the end of each Year; from which time Warrants &s;hall be made out for the Payment thereof; and every Per&s;on &s;hall be allowed that time to produce his Certificate to the Tru&s;tees; in De|fault hereof, &s;uch Per&s;on &s;hall be excluded from any Benefit of this Propo&s;al. But neverthele&s;s, in &s;uch Ca&s;e, &s;uch Per&s;on &s;hall have a Months time longer to name a new Life; but in Default thereof, the Tru&s;tees &s;hall have Power to admit a new Sub&s;criber in his Room.</P>
<PB N="5" REF="3">
<P N="18">XVIII. That the Profits ari&s;ing by the 10000 <HI>l.</HI> re&s;erved out of the fir&s;t year's Contributions and of the 2000 <HI>l.</HI> every &s;ucceeding year, the Monies paid for the Policies, Change of Lives, the Twelve pences men|tioned in Article the 11th. and all other Profits ari&s;ing by this Propo|&s;al (after Deduction of the Tru|&s;tees Salaries, and all other Char|ges incident to the Support and Maintenance of this Office) an Ac|count of which &s;hall from time to time be entred in a Book to be kept for that Purpo&s;e) &s;hall be divided equally among&s;t the Sub&s;cribers, as often as &s;hall be thought convenient by the &s;aid Tru&s;tees.</P>
<P N="19">XIX. That every Sub&s;criber &s;hall, with the Approbation of the Tru|&s;tees, change his Life as often as he plea&s;es, and take a new Policy for the &s;ame, paying for every Policy for one Life, Twenty Shillings, and &s;o in Proportion, if for two or more Lives: And in like manner, where any Per&s;on has more &s;hares than one upon a Life, he &s;hall be at Li|berty at any time afterwards to change his Policy, and to nominate as many Lives as he has &s;hares, and take a new Policy for each &s;hare, paying for each Policy Twenty Shil|lings: So likewi&s;e any Per&s;on may change his Life depending on any Number of &s;hares, not exceeding Five, into one Life, paying for &s;uch Policy Twenty Shillings.</P>
<P N="20">XX. That all Sums of Money, over and above the 10000 <HI>l.</HI> to be laid out in a Purcha&s;e, as in Article the 13th, which &s;hall come into the Hands of the Tru&s;tees, &s;hall from time to time be placed out at In|tere&s;t, either upon any publick Fund, or other &s;ufficient Security, to be approved of by the Major part of all the Tru&s;tees; and till Se|curities can be had, the Money to be kept in an Iron Che&s;t with three Locks, (the Keys whereof &s;hall be kept by the three Tru&s;tees in wait|ing) or el&s;e &s;hall be lodged in the Bank of <HI>England,</HI> as the Major part of all the Tru&s;tees &s;hall think fit|ting.</P>
<P N="21">XXI. That publick Notice &s;hall be given in the Gazette, or other publick Paper, of all General Meet|ings: And to the intent that no Sub&s;criber &s;hall at any time be ex|cluded the Benefit of this Propo&s;al, for making any Default contrary to Article the 12th, without rea|&s;onable Notice, a Regi&s;ter &s;hall be kept of all the Sub&s;cribers Names, and Places of their Abode; and &s;uch Per&s;ons who live out of the Bills of Mortality, &s;hall, when they receive their Policy, name &s;ome Per&s;on living within the &s;ame, to whom Notice may from time to time be given, as Occa&s;ion &s;hall re|quire; and &s;uch Notice &s;hall be deemed as good to all Intents, as tho' the Party him&s;elf had been per&s;o|nally &s;erved therewith.</P>
<P N="22">XXII. That the Major part of the Tru&s;tees &s;hall have Power to &s;et the Salaries of all their Officers, and from time to time to remove &s;uch as do not their Duty, and to regulate all Matters relating to their own Attendance for the Di&s;patch of Bu&s;ine&s;s; but the con&s;tant Atten|dance of the Tru&s;tees &s;hall not be &s;eldomer than once a Week; and each Tru&s;tee &s;hall have 30 <HI>l.</HI> a year for his Care and Pains in attending the Bu&s;ine&s;s of this Society.</P>
<PB N="6" REF="4">
<P N="23">XXIII. That a General Meeting of the Sub&s;cribers &s;hall be always held on the la&s;t <HI>Thur&s;day</HI> before the old Tru&s;tees go out, for the Choice of new ones; at which time the Tru&s;tees &s;hall give an Account to the Sub&s;cribers there pre&s;ent, of all material Tran&s;actions of the pre|ceeding Year, relating to this So|ciety.</P>
<P N="24">XXIV. That every Sub&s;criber &s;hall have Liberty from time to time to peru&s;e all the Books of the Of|fice <HI>gratis.</HI></P>
<P N="25">XXV. That the&s;e Articles &s;hall be ingro&s;&s;ed and &s;igned by every Sub&s;criber; and each Sub&s;criber at the time of receiving his Policy, &s;hall enter into a Covenant with the Tru&s;tees for the yearly Payment of Six Pounds One Shilling for every Share he &s;ub&s;cribes for, during the Life of the Per&s;on, who&s;e Life he nominates, and of all Forfeitures that he may incur for Non-payment thereof, as in Article the 12th.</P>
<P N="26">XXVI. That in Ca&s;e any Suit &s;hall happen to be commenced a|gain&s;t the Tru&s;tees, or any of them, for any thing that they &s;hall do in pur|&s;uance of the&s;e Articles, the Charges of defending &s;uch Suit, &s;hall be paid out of the publick Stock.</P>
<P N="27">XXVII. That in Ca&s;e any Mo|nies that &s;hall be placed out at In|tere&s;t, according to Article the 20th, &s;hall happen to be lo&s;t, the Tru&s;tees &s;hall not be an&s;werable for &s;uch Money; and no Tru&s;tee to be charged or chargeable for the Act of any other of the Tru&s;tees, but for his own Act and Deed only.</P>
<P N="28">XXVIII. That any Alterations or Additions may be made in or to the&s;e Articles by a General Meeting, but not otherwi&s;e.</P>
</DIV2>
<DIV2 TYPE="part">
<P>THE <HI>Advantages</HI> ari&s;ing by this Propo&s;al, are &s;o <HI>many</HI> and &s;o <HI>obvious,</HI> that it will be needle&s;s to &s;ay much to induce any one to come in|to it.</P>
<P>There is no one ('tis pre&s;um'd) need be told, That by being a <HI>Sub|&s;criber</HI> here, he may <HI>In&s;ure</HI> his own, or any other <HI>Life,</HI> upon much <HI>ea&s;ier,</HI> as well as <HI>&s;afer</HI> Terms, than he can any other way. A Man that pays 6 <HI>l.</HI> a Year upon one Life, will, in all likelihood, when that Life <HI>drops</HI> (admit|ting it is not the fir&s;t Year) receive 400 <HI>l.</HI> if not more, be&s;ides a <HI>Di|vidend</HI> of Profits in the mean time, which will <HI>reduce</HI> his yearly Payment; &s;o that for about 25 <HI>s. per Cent. per Annum,</HI> any Per&s;on may here <HI>In&s;ure a Life;</HI> whereas in the common Method of In&s;uring Lives, a Man mu&s;t pay 4 or 5 <HI>Guineas per Cent.</HI> and be content with <HI>Per&s;onal Security;</HI> and this he can do for no <HI>longer</HI> than a year at a time; and then if a Per&s;on grows <HI>&s;ickly,</HI> his Life can be no <HI>longer in&s;ured,</HI> unle&s;s upon extravagant Terms; But in this Office any one may <HI>In&s;ure</HI> a Life <HI>once for all;</HI> and if it be but <HI>healthy</HI> at the time when it is nominated, 'tis no matter how &s;oon after|wards it becomes otherwi&s;e</P>
<P>There are <HI>abundance</HI> of People, who&s;e <HI>All</HI> con&s;i&s;ts in an E&s;tate, either for their own or others Lives; there are <HI>others</HI> that have Trades, by which
<PB N="7" REF="4">they can tolerably provide for them&s;elves and Families during their own Lives: But as the <HI>Income</HI> both of the one and the other <HI>cea&s;es,</HI> when the Per&s;on dies, their Families are many times left <HI>unprovided</HI> at their Deaths; but any Per&s;on by <HI>&s;ub&s;cribing here,</HI> and &s;paring a <HI>little</HI> out of his <HI>yearly Profits,</HI> will &s;ecure &s;ome <HI>Recompence</HI> to his Family, when they are deprived of that Life by which they <HI>&s;ub&s;i&s;ted.</HI></P>
<P>In mo&s;t other <HI>Propo&s;als</HI> of this Nature, no one can be <HI>certain</HI> what his yearly Payment will amount to, but that <HI>Objection</HI> is here removed; and though it is uncertain how much his yearly Payment will be <HI>reduced</HI> by the <HI>Dividends</HI> of Profits, yet this every Sub&s;criber is <HI>&s;ure of,</HI> that he can never pay more than 6 <HI>l.</HI> 1 <HI>s. a Year</HI> for each Share he &s;ub&s;cribes for.</P>
<P>It may not be <HI>ami&s;s</HI> to add here, That the <HI>Per&s;ons engaged</HI> in this Under|taking propo&s;e no <HI>Advantages</HI> to them&s;elves, but what any one may be <HI>in|tituled</HI> to, by becoming a <HI>Sub&s;criber:</HI> They have ('tis true) taken &s;ome <HI>Pains,</HI> and been at &s;ome <HI>Charge</HI> to form this <HI>De&s;ign,</HI> and mu&s;t be at <HI>more</HI> to carry it on: But as they have no <HI>other Ends</HI> by it, be&s;ides being <HI>Mem|bers</HI> them&s;elves, but of promoting a <HI>publick Good,</HI> 'tis to be hop'd, that no one will <HI>di&s;courage</HI> &s;o <HI>di&s;intere&s;s'd,</HI> and yet &s;o <HI>u&s;eful an &V;ndertaking.</HI></P>
</DIV2>
<TRAILER>FINIS.</TRAILER>
</DIV1>
</BODY>
</TEXT>
</EEBO>
</ETS>
