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The Life Assurance Companies of Germany; their Business and Position in the Year 1858

Published online by Cambridge University Press:  18 August 2016

G. Hopf*
Affiliation:
Gotha Life Insurance Bank Institute of Actuaries in London Commission Centrale de Statistique at Brussels Useful Sciences at Erfurt

Extract

Widows' Funds and Burial Societies have existed in Germany already for more than 200 years, and in very great numbers. There was no town of any importance that did not possess one or more establishments of that kind. The guilds (corporations) of artisans usually maintained such institutions for their members; seeking in them, at the same time, a tie of stronger combination, and uniting their corporate interests. The love of these institutions, and the endeavour to provide, by means of them, for those left behind, spread from the guilds of artisans to the other classes of the people, in consequence of which, many hundreds, even thousands, of those little Burial Societies and Funeral Funds are to be found in Germany, from which, at the death of a member, a certain sum of money is paid to the survivors, to defray the expenses of interment, and to provide for the family immediately after the death of the subscriber. An extensive use was also made at all times of these establishments by such classes of people as were not so wealthy, because even the poorest are ambitious to take measures that they may have after their death a decent burial furnished at a fixed expense. This motive induces many, and particularly women, to subscribe to a Funeral Fund in Germany.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1861

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References

page 43 note 1 Histoire de l'Academie Prusse, Année 1760; Berlin, 1761; p. 163.Google Scholar Neues Hamburger Magazin; Leipzig, 1770 Google Scholar; No. 43.

page 43 note 2 Florencourt: Abhandlungen aus der Juristischen and Politischen Rechenkanst; Altenburg, 1781.Google Scholar

page 43 note 3 Karstens: Theorie der Wittwencassen; Halle, 1784.Google Scholar

page 43 note 4 Tetens: Einlentung zur Berechnung der Leibrenten and Anwartsohaften, die von Leben and Tode einer oder mehrerer Personen abhaengen; 2 vols.; Leipzig, 1785–6Google Scholar, Mr.Hendriks, has drawn attention to this work in a clever paper “On the early History of Auxiliary Tables for the Computation of Life Contingencies,” Ass. Mag., vol. i., p. 1.Google Scholar