The Pamphlet Collection of Sir Robert Stout: Volume 54
Life Assurance not a Trust
Life Assurance not a Trust.
In pursuance of my intention of considering the business aspect of life insurance, the first question I will discuss is—In what light are we to regard a life insurance company? And the answer I propose to submit to your consideration is, that every such company is to be considered as a trading concern, and to be administered on commercial principles, It has sometimes been urged by well-intentioned writers that life insurance must be considered by all engaged in it as a trust; but I cannot help thinking that, if this is the fundamental idea with which we start, it will lead us into various difficulties. My view rather is, that