A SCHEME for Erecting A Friendly Society For Insuring LIVES, BEING A Beneficial PROPOSAL  
For all Persons possessed of any Bishops, Dean and Chapters Leases, or any other Lease or Leases determinable on one or more Life or Lives, Annuities in the Exchequer, or Places: As also a Certain Advantage to all Clergymen and other Persons, who are desirous to make some Provision for their Wives and Children, or Relations, after their Decease, by Insuring to their Wives and Children, or such others as they shall appoint, a Considerable Dividend out of 10000 l. on His, Her or Their Deaths.  

'tis Proposed,  
I. THAT 12000 l. per Annum, to be divided into 2000 Shares, at 6 l. per Annum each, shall be subscribed for; to be paid by each Subscriber during the respective Lives of certain Persons to be nominated, as herein after is mentioned.  
II. That any Person may subscribe for as many Shares as he pleases, 
Note, If a Subscriber names his own Life, then his Executor, or Administrator, or such other Person as he shall by his Will, or other Writing appoint, will be entitled to the Dividend upon his Death: But if he names the Life of any other Person then upon the Death of such Person, the Subscriber himself, his Executors, or Administrators, or such other Person, as he shall by his Will or other Writing appoint, will be entitled to the Dividend.  and may nominate either his own, or any other Life or Lives; but no one to subscribe for more than 5 Shares on one Life.  
III. That the Person or Persons for whose Life or Lives any one subscribes, shall be healthful, and be above the Age of Twelve Years, and under the Age of Fifty.  
IV. That so soon as the Subscriptions shall be completed, Twelve Trustees shall be chosen out of the Subscribers for the Management of the Affairs of this Society; for which purpose public Notice shall be given where a List of all the Subscribers Names may be seen; as likewise the Time and Place appointed for the choosing the said Trustees, and each Subscriber shall then and there deliver a List of the Twelve Persons he votes for, with his own Hand: Which List shall be filled and registered, and an impartial Scrutiny made at the same time and Place, by Four Persons to be chosen out of the Subscribers there present.  
V. That after the Trustees are chosen, they, or the mayor Part of them, shall, as soon as conveniently may be, make choice of a Place for keeping the Office of this Society, and likewise of a cashier, and such other Officers and Servants, as they shall judge necessary; and sufficient Security shall be taken by the said Trustees for the Honesty and Integrity of such cashier, who shall from time to time receive all moneys arising by this Office: And such Money, when it amounts to One hundred Pounds, shall be immediately delivered over to the said Trustees.  
VI. That the first Trustees, when chosen, shall continue fifteen Months, but afterwards Twelve Trustees shall be annually chosen, as in Article the 4th. and in every List to be delivered in for choosing new Trustees, Four of the old Trustees of the preceding Year, shall be inserted, and Eight new ones; and no one shall continue a Trustee above Three Years successively.  
VII. That any Five or more of the Trustees shall make a sufficient Quorum to approve the Lives, and no Life on which more than one Share is subscribed, shall be allowed, unless the Person whose Life is nominated, do personally appear before the Trustees. But as to the Dispatch of all other Business relating to this Office, any Three of the Trustees shall make a sufficient Quorum to do the same,( Except where it is otherwise provided for by these Articles) and no Trustee to have a Vote in his own Case, but to withdraw during the Debate.  
VIII. That within Two Months after the Trustees are chosen, each Subscriber shall nominate his Life, and at the same time shall make his first yearly Payment, for which the cashier shall then give a Receipt; and in Four Days afterwards such Person shall receive a Policy under the Hands and Seals of Three of the Trustees upon Delivery up of his said Receipt. And in Case any Person, whose Life is nominated, shall happen to die before the Policy is delivered, then the Subscriber, or such as claim under him, shall notwithstanding, in such Case, be entitled to the Dividend of that Year. And all Policies shall bear date upon the Day of choosing the Trustees.  
IX. That in Case any Person shall neglect or refuse to nominate such Life as shall be approved of by the Trustees, within the time limited by Article the 8th. the Trustees shall have Power to admit a new Subscriber in his Room; and such Person so refusing or neglecting, to be excluded all Benefit of this Proposal.  
X. That no Person's Life shall be nominated, but who shall be resident in England or Wales; and if any Person, whose Life is nominated, shall die in any other Place, or is sentenced to Death, and suffer, no Person shall be entitled to any part of that years Dividend on such Death; but nevertheless, such Person as would have been entitled, in Case the Nominee had died a natural Death in England or Wales, shall, within one Month afterwards, name another Life, to be approved of, as in Article the 7th. And in Default of such Nomination, the Trustees shall be at liberty to admit another Subscriber in his Room.  
XI. That sixpence per share be paid by every Subscriber, when he nominates his Life for each share he subscribes for, which is to be applied by the Trustees towards the Charges of Printing and Publishing this Proposal, and the Residue( if any be) to be put into the public Stock: Besides which, each Subscriber shall at the same time pay 7 s. for each share he subscribes for, towards the Charges of Policies, providing Books, and other necessary expenses; and every Year after the first, each Subscriber shall also pay 12 d. per Annum for each share he subscribes for, over and above his yearly Payment of 6 l. towards the annual Charges of this Office.  
XII. That all succeeding yearly Payments shall be made on the first Monday after the end of each respective Year( reckoning the Year from the Day on which the first Trustees are chosen.) And in Case any Subscriber shall not make his said yearly Payments till a Month after they respectively become due, such Subscriber shall forfeit Ten shillings for every calendar Month in which he shall so make Default. And in Case any Subscriber shall not within one calendar Month after Notice in Writing signed by any Three of the Trustees for the time being, given to such Subscriber or his Agent, to be appointed, as in Article the 21st. pay all Arrears of his said yearly Payments, and all Forfeitures incurred due for the same, such Subscriber, and all claiming by or under him, shall from thenceforth be excluded all Benefit and Advantage arising by these Proposals, and then, and in such Case the Trustees, or any Three of them, shall admit a new Subscriber in his Room.  
XIII. That after the Sum of 12000 l. is paid into the Hands of the Trustees, 10000 l. thereof shall( as soon as conveniently may be) be laid out into a Purchase of Land, Ground-Rents, Fee-Farm Rents, Bankers Assignments, or other sufficient Security, to be settled on the Trustees, as Counsel shall advice, for a Fund to answer all Claims that shall be made upon this Office. And till such Purchase can be found out, the said 10000 l. shall be lodged in the Bank of England, on their sealed Bills.  
XIV. That 2000 l.( part of the 12000 l. in Article the 13th) shall be divided the first Year( reckoning the Year from the Day the Trustees are chosen) among the Nominors, or those entitled by or under them, of such Lives as shall die within that Year; and 10000 l. every Year afterwards.  
XV. That every Person, upon Receipt of his share or shares of the yearly Dividend of 10000 l. shall nominate another Life or Lives to supply the Place of the Person or Persons deceased; and at the time of Payment of such yearly Dividend, 12 l. and no more, shall be deducted out of each share thereof; which 12 l. shall be stopped to answer the two first yearly Payments of the Person nominating a new Life or Lives; and when such Person nominates a new Life, he shall receive a new Policy or Policies, 
Note, All new Policies to be given, shall be dated the same Day, on which the last yearly Payment preceding the time of making such Policy, became due; to the end that all the yearly Payments, as well of the old as new Subscribers, may become due, and be paid at one and the same time.  paying for each Policy Six shillings, or proportionably for so many shares as the said Policy shall be for. And in Case any Person, upon his Receipt of his said Dividend, shall refuse to nominate another Life or Lives, or shall not nominate such as shall be approved of by the said Trustees, such Person shall forfeit the said Money deducted out of his Dividend, as aforesaid, and shall from thenceforth be excluded all further Benefit of this Proposal, and the Trustees shall admit any other Person in his Room.  
XVI. That within a Month after the Death of every Person, whose Life is nominated, a Certificate shall be produced to, and left with the Trustees of the Death of such Person, signed by the Minister and Churchwardens of the Parish where such Person died, together with an Affidavit in Writing, of its being duly signed by the said Parties; but before such Certificate is signed, Notice shall be given to the Trustees of the Death of such Person, and where and when he died; to the Intent that the Trustees may( if they think sit) appoint some Person that they know, to be a Witness to the signing of the Certificate.  
XVII. That to the intent, no Person may be excluded his Dividend of that Year, in which his Life drops, 
Note, This will prevent all Disputes that may crise after a Dividend is made.  tho' but a Day before the end of the Year, no Dividend shall be made, till a Month after the end of each Year; from which time Warrants shall be made out for the Payment thereof; and every Person shall be allowed that time to produce his Certificate to the Trustees; in Default hereof, such Person shall be excluded from any Benefit of this Proposal. But nevertheless, in such Case, such Person shall have a Months time longer to name a new Life; but in Default thereof, the Trustees shall have Power to admit a new Subscriber in his Room.  
XVIII. That the Profits arising by the 10000 l. reserved out of the first year's Contributions and of the 2000 l. every succeeding year, the moneys paid for the Policies, Change of Lives, the Twelve pences mentioned in Article the 11th. and all other Profits arising by this Proposal( after Deduction of the Trustees Salaries, and all other Charges incident to the Support and Maintenance of this Office) an Account of which shall from time to time be entred in a Book to be kept for that Purpose) shall be divided equally amongst the Subscribers, as often as shall be thought convenient by the said Trustees.  
XIX. That every Subscriber shall, with the Approbation of the Trustees, change his Life as often as he pleases, and take a new Policy for the same, paying for every Policy for one Life, Twenty Shillings, and so in Proportion, if for two or more Lives: And in like manner, where any Person has more shares than one upon a Life, he shall be at Liberty at any time afterwards to change his Policy, and to nominate as many Lives as he has shares, and take a new Policy for each share, paying for each Policy Twenty Shillings: So likewise any Person may change his Life depending on any Number of shares, not exceeding Five, into one Life, paying for such Policy Twenty Shillings.  
XX. That all Sums of Money, over and above the 10000 l. to be laid out in a Purchase, as in Article the 13th, which shall come into the Hands of the Trustees, shall from time to time be placed out at Interest, either upon any public Fund, or other sufficient Security, to be approved of by the mayor part of all the Trustees; and till Securities can be had, the Money to be kept in an Iron Chest with three Locks,( the Keys whereof shall be kept by the three Trustees in waiting) or else shall be lodged in the Bank of England, as the mayor part of all the Trustees shall think fitting.  
XXI. That public Notice shall be given in the Gazette, or other public Paper, of all General Meetings: And to the intent that no Subscriber shall at any time be excluded the Benefit of this Proposal, for making any Default contrary to Article the 12th, without reasonable Notice, a Register shall be kept of all the Subscribers Names, and Places of their Abode; and such Persons who live out of the Bills of Mortality, shall, when they receive their Policy, name some Person living within the same, to whom Notice may from time to time be given, as Occasion shall require; and such Notice shall be deemed as good to all Intents, as tho' the Party himself had been personally served therewith.  
XXII. That the mayor part of the Trustees shall have Power to set the Salaries of all their Officers, and from time to time to remove such as do not their Duty, and to regulate all Matters relating to their own Attendance for the Dispatch of Business; but the constant Attendance of the Trustees shall not be seldomer than once a Week; and each Trustee shall have 30 l. a year for his Care and Pains in attending the Business of this Society.  
XXIII. That a General Meeting of the Subscribers shall be always held on the last Thursday before the old Trustees go out, for the Choice of new ones; at which time the Trustees shall give an Account to the Subscribers there present, of all material Transactions of the preceding Year, relating to this Society.  
XXIV. That every Subscriber shall have Liberty from time to time to peruse all the Books of the Office gratis.  
XXV. That these Articles shall be engrossed and signed by every Subscriber; and each Subscriber at the time of receiving his Policy, shall enter into a Covenant with the Trustees for the yearly Payment of Six Pounds One Shilling for every Share he subscribes for, during the Life of the Person, whose Life he nominates, and of all Forfeitures that he may incur for Non-payment thereof, as in Article the 12th.  
XXVI. That in Case any svit shall happen to be commenced against the Trustees, or any of them, for any thing that they shall do in pursuance of these Articles, the Charges of defending such svit, shall be paid out of the public Stock.  
XXVII. That in Case any moneys that shall be placed out at Interest, according to Article the 20th, shall happen to be lost, the Trustees shall not be answerable for such Money; and no Trustee to be charged or chargeable for the Act of any other of the Trustees, but for his own Act and dead only.  
XXVIII. That any Alterations or Additions may be made in or to these Articles by a General Meeting, but not otherwise.   

THE Advantages arising by this Proposal, are so many and so obvious, that it will be needless to say much to induce any one to come into it.  
There is no one( 'tis presumed) need be  told, That by being a Subscriber here, he may Insure his own, or any other Life, upon much easier, as well as safer Terms, than he can any other way. A Man that pays 6 l. a Year upon one Life, will, in all likelihood, when that Life drops( admitting it is not the first Year) receive 400 l. if not more, besides a Dividend of Profits in the mean time, which will reduce his yearly Payment; so that for about 25 s. per Cent. per Annum, any Person may here Insure a Life; whereas in the common Method of Insuring Lives, a Man must pay 4 or 5 Guineas per Cent. and be content with Personal Security; and this he can do for no longer than a year at a time; and then if a Person grows sickly, his Life can be no longer insured, unless upon extravagant Terms; But in this Office any one may Insure a Life once for all; and if it be but healthy at the time when it is nominated, 'tis no matter how soon afterwards it becomes otherwise  
There are abundance of People, whose All consists in an Estate, either for their own or others Lives; there are others that have Trades, by which they can tolerably provide for themselves and Families during their own Lives: But as the Income both of the one and the other ceases, when the Person dies, their Families are many times left unprovided at their Deaths; but any Person by subscribing here, and sparing a little out of his yearly Profits, will secure some recompense to his Family, when they are deprived of that Life by which they subsisted.  
In most other Proposals of this Nature, no one can be certain what his yearly Payment will amount to, but that Objection is here removed; and though it is uncertain how much his yearly Payment will be reduced by the Dividends of Profits, yet this every Subscriber is sure of, that he can never pay more than 6 l. 1 s. a Year for each Share he subscribes for.  
It may not be amiss to add here, That the Persons engaged in this Undertaking propose no Advantages to themselves, but what any one may be entitled to, by becoming a Subscriber: They have( 'tis true) taken some Pains, and been at some Charge to form this Design, and must be at more to carry it on: But as they have no other Ends by it, besides being Members themselves, but of promoting a public Good, 'tis to be hoped, that no one will discourage so disinteress'd, and yet so useful an Undertaking.   
FINIS.