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Auction 2691 10th November 2011
GENERAL CONDITIONS OF SALE
I The highest bidder at or above the reserve price shall be the buyer. If any dispute arises as to the highest bidder, the lot in dispute may be put up again and resold. The Auctioneer reserves the right of accepting or refusing any bid. No person shall advance less than £50 at each bidding except at the Auctioneer’s discretion. No person may retract any bidding once made. The seller reserves the right to fix a reserve price and to bid up to that price by himself or by his agent or by the Auctioneer.
II Immediately the auction has concluded, the buyer shall pay to Foster & Cranfield Limited (“the Auctioneer”) a deposit of 10 per cent in part payment of the purchase money for each lot and sign agreements in the form subjoined and shall pay the remainder no later than 28 days after the date of the auction (except as to lots otherwise provided for), at the offices of the Auctioneers or the respective sellers’ solicitors, when and where the purchases are to be completed. If any lot be sold after the auction, completion will take place no later than 28 days after the date the sale is agreed between the Auctioneers and the buyer; but should the completion of the purchases be delayed from any cause whatever, other than the wilful default or neglect of the seller beyond that period, the buyer shall (but without prejudice nevertheless to the seller’s rights under Condition VI or any other Condition of Sale) pay interest at the rate of 12 per cent per annum until completion.
III The buyer shall appoint solicitors and have proper conveyances, assignments or transfers of the lots prepared by and at the expense of the buyer but the cost of approval on behalf of and execution by the seller and all other necessary parties (if any) to be borne by the seller and on payment of the remainder of the purchase money as stipulated in Condition II the buyer shall be entitled, from the hour of sale, to all advantages of the policies and reversions and to the current dividends or interest on shares and debentures purchased, but annuities, life interests, interest on mortgages or any other income, except where the same are hereafter otherwise specially provided for, shall be apportioned to the date fixed for completion; but all premiums due, falling due or becoming payable after the date fixed for completion as at Condition II, are the buyer’s responsibility and any paid by the seller after this date are to be repaid to the seller by the buyer.
IV The seller shall furnish within 7 days from the date of the sale of any lot, at his own expense, an abstract of the documents under which the seller derives title, subject to the special Conditions relating to each lot. If completion is delayed by the wilful default or neglect of the seller, the buyer shall be entitled to revoke the sale and will then be entitled to the return of the deposit paid and payment by the seller of the buyer’s reasonable legal costs; the seller will also be liable for the payment of the Auctioneers’ fees.
V If, through any mistake, a lot should be improperly described or if there should be any error, omission or mis-statement in the Particulars not announced at the Auction, such error omission or mis-statement shall not vitiate the sale if the seller and buyer agree an amended value determined impartially by the Auctioneer or otherwise. However, should the seller and buyer not agree an amended value, the sale will be cancelled and the deposit returned to the buyer and, if the seller so requires, the lot may be re-offered for sale in the next available auction. Buyers must satisfy themselves as to the accuracy of all details and descriptions prior to completion as no adjustment to the purchase price will be allowed for any discrepancies subsequently coming to light.
VI Should the buyer neglect or fail to comply with any of the above Conditions or the Additional Conditions, the deposit money may be forfeited and the seller shall be at full liberty to re-sell the property sold to such buyer either by public or private sale and the deficiency (if any) arising by such second sale, together with all charges attending the same shall be made good by the defaulter at this present sale and be recoverable as liquidated damages and it shall not be requisite for the seller previously to tender any assignment or conveyance to such buyer.
VII The buyer and/or the seller acknowledge that the Auctioneer disclaims all liability for the accuracy of the particulars of each lot and the buyer and/or the seller shall have no claim against the Auctioneer in respect of any details, descriptions and statements made.
In these Conditions, where the context so requires or admits, the singular shall include the plural and vice versa and the masculine gender shall include the feminine and where the expression “the seller” and/or “the buyer” comprises two or more persons, the conditions imposed on the seller and/or the buyer shall be deemed to be imposed on such persons jointly and severally.
Notes: The estimated values and details given in these Particulars are merely for the convenience of proposing Buyers and although believed to be correct their accuracy is not guaranteed and they are expressly excluded from any contract.
The Auctioneer acts on an execution-only basis.
This investment may not be suitable for everyone and if you have any doubt whether it is suitable for you, you should obtain expert advice.
The Deed of Assignment drawn up to transfer ownership of the policy will not necessarily convey membership rights to the buyer and this may affect future entitlements to “windfall” payments from the life office. In the event of the seller or his solicitor electing to sell and exchange contracts by Private Treaty, these conditions shall apply as if the policy had been sold at auction and the Auctioneers claim to be paid commission as though they had been allowed to pursue the negotiation which they are at all times willing to do without making any extra charge in consideration of the same.
FOR ADDITIONAL CONDITIONS SEE AFTER LAST LOT
NOTE
The rates of bonus and surrender values shown in this catalogue and as reproduced on the Foster & Cranfield website are in every case based on the latest information available to Foster & Cranfield when the catalogue went to press, but their accuracy on the Auction date cannot be guaranteed. Investors are reminded that future rates of bonus are not guaranteed. Past performance is not necessarily a guide to future performance. The Guaranteed Minimum Value equals the Sum Assured plus the Bonuses to Date.
Lot 1
An Endowment Assurance for £11,025.00 (with profits)
Effected 1st August 1990 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st August 2015 or earlier death of a Gentleman now aged 54 (Admitted) or a Lady now aged 52 (Admitted). Bonus additions £6,868.38 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £46.65 payable on 1st of each month. Surrender Value £19,941 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 69.1 per cent of the Sum Assured. Estimated Sale Price Range £21,500.00 - £21,750.00.
Lot 2
An Endowment Assurance for £14,535.00 (with profits)
Effected 20th December 1990 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 20th December 2015 or earlier death of a Lady now aged 51. Bonus additions £7,919.00 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £66.60 payable on 20th of each month. Surrender Value £22,549 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £33.30.Estimated Sale Price Range £24,000.00 - £24,350.00.
Lot 3
An Endowment Assurance for £5,779.00 (with profits)
Effected 1st November 1990 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st November 2015 or earlier death of a Gentleman now aged 60 or a Lady now aged 57. Bonus additions £3,600.27 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £25.00 payable on 1st of each month. Surrender Value £10,243 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 69.1 per cent of the Sum Assured. Estimated Sale Price Range £11,350.00 - £11,650.00.
Lot 4
An Endowment Assurance for £11,250.00 (with profits)
Effected 1st April 1994 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st April 2016 or earlier death of a Lady now aged 45 (Admitted). Bonus additions £4,168.07 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £50.00 payable on 1st of each month. Surrender Value £15,029 approximately. On the maturity at the present time of endowment assurances in force for 22 years this Company is currently paying a Terminal Bonus equal to 55.8 per cent of the Sum Assured. Estimated Sale Price Range £16,500.00 - £16,850.00.
Lot 5
An Endowment Assurance for £8,989.00 (with profits)
Effected 1st June 1992 with the
CLERICAL MEDICAL & GENERAL LIFE ASSURANCE SOCIETY
Payable 1st June 2022 or earlier death of a Lady now aged 50. Bonus additions £3,719.40 to 31st December 2010. (0.50 per cent on the sum assured and 1.00 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 0.50 per cent and 1.00 per cent respectively.) Premium £28.00 payable on 1st of each month. Surrender Value £8,163 approximately. On the maturity at the present time of endowment assurances in force for 30 years this Company is currently paying a Terminal Bonus equal to 41 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £12,708.40 provided that all future premiums totalling £3,500.00 are paid. Estimated Sale Price Range £9,000.00 - £9,350.00.
Lot 6
An Endowment Assurance for £7,583.00 (with profits)
Effected 28th March 1990 with the
SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY
Payable 28th March 2015 or earlier death of a Gentleman now aged 43 (Admitted) or a Lady now aged 41 (Admitted). Bonus additions £3,726.01 to 31st December 2010. (0.50 per cent on the sum assured and 1.00 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £30.67 payable on 28th of each month. Surrender Value £11,291 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 18 per cent of the Sum Assured and attaching Reversionary Bonuses. Estimated Sale Price Range £12,000.00 - £12,350.00.
Lot 7
An Endowment Assurance for £20,300.00 (with profits)
Effected 24th September 1993 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 24th September 2018 or earlier death of a Gentleman now aged 41 or a Lady now aged 40. Bonus additions £7,758.50 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £81.46 payable on 24th of each month. Surrender Value £22,743 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. The Guaranteed Minimum Value is £28,058.50 provided that all future premiums totalling £6,598.26 are paid. Estimated Sale Price Range £24,000.00 - £24,350.00.
Lot 8
An Endowment Assurance for £8,911.00 (with profits)
Effected 1st May 1996 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st May 2021 or earlier death of a Gentleman now aged 50 (Admitted) or a Lady now aged 43 (Admitted). Bonus additions £2,538.48 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £37.20 payable on 1st of each month. Surrender Value £8,120 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 69.1 per cent of the Sum Assured. The Guaranteed Minimum Value is £11,449.48 provided that all future premiums totalling £4,166.40 are paid. Estimated Sale Price Range £9,200.00 - £9,450.00.
Lot 9
An Endowment Assurance for £8,580.00 (with profits)
Effected 1st January 1992 with the
CO-OPERATIVE INSURANCE SOCIETY
Payable 1st January 2017 or earlier death of a Gentleman now aged 44 or a Lady now aged 42. Bonus additions £3,181.49 to 31st December 2010. (0.40 per cent on the sum assured and 0.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £32.32 payable on 1st of each month. Surrender Value £10,385 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 46 per cent of the Sum Assured. The policy was altered from single to joint life on 1 March 1994, prior to which date the premium was £31.50. The Guaranteed Minimum Value is £11,761.49 provided that all future premiums totalling £1,939.20 are paid. Estimated Sale Price Range £11,350.00 - £11,650.00.
Lot 10
An Endowment Assurance for £11,700.00 (with profits)
Effected 1st June 1990 with the
STANDARD LIFE ASSURANCE COMPANY
Payable 1st June 2015 or earlier death of a Gentleman now aged 56 or a Lady now aged 54. Bonus additions £6,521.55 to 15th November 2010. (0.25 per cent on the sum assured and 0.35 per cent on attaching bonuses was declared for the year ending 15th November 2010. The interim bonus rate for 2011 is 0.25 per cent and 0.35 per cent respectively.) Premium £50.68 payable on 1st of each month. Surrender Value £17,263 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 11 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £18,221.55 provided that all future premiums totalling £2,077.88 are paid. Estimated Sale Price Range £18,000.00 - £18,350.00.
Lot 11
An Endowment Assurance for £24,395.00 (with profits)
Effected 28th June 1991 with the
SUN LIFE ASSURANCE COMPANY OF CANADA
Payable 28th June 2016 or earlier death of a Gentleman now aged 58. Bonus additions £9,984.03 to 31st December 2010. (0.25 per cent on the attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 0.25 per cent.) Premium £117.59 payable on 28th of each month. Surrender Value £29,304 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 11 per cent of the Sum Assured and attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £59.38. The Guaranteed Minimum Value is £34,379.03 provided that all future premiums totalling £6,349.86 are paid. Estimated Sale Price Range £30,000.00 - £30,350.00.
Lot 12
An Endowment Assurance for £9,065.00 (with profits)
Effected 26th January 1990 with the
SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY
Payable 26th January 2020 or earlier death of a Gentleman now aged 44. Bonus additions £4,561.94 to 31st December 2010. (0.50 per cent on the sum assured and 1.00 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £30.25 payable on 26th of each month. Surrender Value £10,993 approximately. On the maturity at the present time of endowment assurances in force for 30 years this Company is currently paying a Terminal Bonus equal to 31 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £13,626.94 provided that all future premiums totalling £2,934.25 are paid. Estimated Sale Price Range £12,000.00 - £12,350.00.
Lot 13
An Endowment Assurance for £13,050.00 (with profits)
Effected 1st August 1993 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st August 2018 or earlier death of a Gentleman or a Lady. Bonus additions £5,518.08 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £50.00 payable on 1st of each month. Surrender Value £16,140.00 approximate. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 69.1 per cent of the Sum Assured. The Guaranteed Minimum Value is £18,568.08 provided that all future premiums are paid. Estimated Sale Price Range £17,350.00 - £17,750.00.
Lot 14
An Endowment Assurance for £11,475.00 (with profits)
Effected 29th December 1990 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 29th December 2015 or earlier death of a Gentleman now aged 53 or a Lady now aged 53. Bonus additions £6,251.60 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £52.38 payable on 29th of each month. Surrender Value £18,452 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £20,000.00 - £20,150.00.
Lot 15
An Endowment Assurance for £8,343.00 (with profits)
Effected 1st July 1989 with the
STANDARD LIFE ASSURANCE COMPANY
Payable 1st July 2014 or earlier death of a Gentleman now aged 47. Bonus additions £5,291.77 to 15th November 2010. (0.25 per cent on the sum assured and 0.35 per cent on attaching bonuses was declared for the year ending 15th November 2010. The interim bonus rate for 2011 is 0.25 per cent and 0.35 per cent respectively.) Premium £31.79 payable on 1st of each month. Surrender Value £13,615 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 11 per cent of the Sum Assured and attaching Reversionary Bonuses. Estimated Sale Price Range £14,350.00 - £14,650.00.
Lot 16
An Endowment Assurance for £45,665.00 (with profits)
Effected 17th May 1993 with the
SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY
Payable 17th May 2023 or earlier death of a Gentleman now aged 55. Bonus additions £13,429.33 to 31st December 2010. (0.50 per cent on the sum assured and 1.00 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £161.85 payable on 17th of each month. Surrender Value £39,405 approximately. On the maturity at the present time of endowment assurances in force for 30 years this Company is currently paying a Terminal Bonus equal to 31 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £59,094.33 provided that all future premiums totalling £22,173.45 are paid. Estimated Sale Price Range £41,000.00 - £41,350.00.
Lot 17
An Endowment Assurance for £9,831.00 (with profits)
Effected 20th August 1992 with the
FRIENDS' PROVIDENT LIFE OFFICE
Payable 20th August 2017 or earlier death of a Gentleman now aged 42 or a Lady now aged 40. Bonus additions £3,166.99 to 31st December 2010. (0.25 per cent on the attaching bonuses was declared for the year ending 31st December 2010.) Premium £32.37 payable on 20th of each month. Surrender Value £9,690 approximately. This is a low cost endowment. This series has only been in force since 1 January 1992 and for this particular series the highest terminal bonus currently available is 25 per cent of the attaching reversionary bonuses. The Guaranteed Minimum Value is £12,997.99 provided that all future premiums totalling £2,201.16 are paid. Estimated Sale Price Range £10,750.00 - £11,000.00.
Lot 18
An Endowment Assurance for £9,210.00 (with profits)
Effected 8th October 1986 with the
CLERICAL MEDICAL & GENERAL LIFE ASSURANCE SOCIETY
Payable 8th October 2013 or earlier death of a Gentleman now aged 63 or a Lady now aged 63. Bonus additions £9,354.30 to 31st December 2010. (0.50 per cent on the sum assured and 1.00 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 0.50 per cent and 1.00 per cent respectively.) Premium £41.10 payable on 8th of each month. Surrender Value £19,099 approximately. On the maturity at the present time of endowment assurances in force for 27 years this Company is currently paying a Terminal Bonus equal to 27 per cent of the Sum Assured and attaching Reversionary Bonuses. Estimated Sale Price Range £21,000.00 - £21,350.00.
Lot 19
An Endowment Assurance for £14,157.00 (with profits)
Effected 15th August 1993 with the
CO-OPERATIVE INSURANCE SOCIETY
Payable 15th August 2018 or earlier death of a Gentleman now aged 44 or a Lady now aged 50. Bonus additions £4,535.74 to 31st December 2010. (0.40 per cent on the sum assured and 0.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £53.76 payable on 15th of each month. Surrender Value £14,697 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 46 per cent of the Sum Assured. The Guaranteed Minimum Value is £18,692.74 provided that all future premiums totalling £4,300.80 are paid. Estimated Sale Price Range £17,000.00 - £17,350.00.
Lot 20
An Endowment Assurance for £24,772.00 (with profits)
Effected 26th March 1992 with the
SUN LIFE ASSURANCE COMPANY OF CANADA
Payable 26th March 2015 or earlier death of a Gentleman now aged 46 or a Lady. Bonus additions £10,111.08 to 31st December 2010. (0.25 per cent on the attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 0.25 per cent.) Premium £109.46 payable on 26th of each month. Surrender Value £31,553 approximately. On the maturity at the present time of endowment assurances in force for 23 years this Company is currently paying a Terminal Bonus equal to 11 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £34,883.08 provided that all future premiums totalling £4,268.94 are paid. Estimated Sale Price Range £32,500.00 - £32,850.00.
Lot 21
An Endowment Assurance for £9,486.00 (with profits)
Effected 27th February 1989 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 27th February 2014 or earlier death of a Gentleman now aged 44. Bonus additions £6,603.40 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £43.20 payable on 27th of each month. Surrender Value £18,233 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £21.60.Estimated Sale Price Range £19,000.00 - £19,350.00.
Lot 22
An Endowment Assurance for £10,235.00 (with profits)
Effected 3rd February 1992 with the
SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY
Payable 3rd February 2017 or earlier death of a Gentleman now aged 49. Bonus additions £3,684.92 to 31st December 2010. (0.50 per cent on the sum assured and 1.00 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £41.32 payable on 3rd of each month. Surrender Value £12,453 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 18 per cent of the Sum Assured and attaching Reversionary Bonuses. Estimated Sale Price Range £14,000.00 - £14,350.00.
Lot 23
An Endowment Assurance for £8,560.00 (with profits)
Effected 29th September 1989 with the
FRIENDS' PROVIDENT LIFE OFFICE
Payable 29th September 2014 or earlier death of a Lady now aged 48. Bonus additions £4,207.01 to 31st December 2010. (0.25 per cent on the attaching bonuses was declared for the year ending 31st December 2010.) Premium £31.83 payable on 29th of each month. Surrender Value £12,742 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 55 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £13,650.00 - £13,950.00.
Lot 24
An Endowment Assurance for £11,570.00 (with profits)
Effected 29th November 1993 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 29th November 2018 or earlier death of a Lady now aged 45. Bonus additions £4,323.50 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £45.30 payable on 29th of each month. Surrender Value £12,795 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. The Guaranteed Minimum Value is £15,893.50 provided that all future premiums totalling £3,759.90 are paid. Estimated Sale Price Range £14,000.00 - £14,350.00.
Lot 25
An Endowment Assurance for £7,778.00 (with profits)
Effected 1st August 1991 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st August 2016 or earlier death of a Gentleman now aged 50 (Admitted). Bonus additions £4,263.20 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £30.00 payable on 1st of each month. Surrender Value £12,221 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 69.1 per cent of the Sum Assured. Estimated Sale Price Range £14,000.00 - £14,350.00.
Lot 26
An Endowment Assurance for £6,687.00 (with profits)
Effected 30th March 1992 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 30th March 2017 or earlier death of a Lady now aged 46. Bonus additions £3,101.00 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £27.22 payable on 30th of each month. Surrender Value £9,292 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £10,000.00 - £10,350.00.
Lot 27
An Endowment Assurance for £20,400.00 (with profits)
Effected 1st March 1996 with the
PRUDENTIAL ASSURANCE COMPANY
Payable 1st March 2019 or earlier death of a Gentleman now aged 53. Bonus additions £5,811.21 to 31st December 2010. (1.20 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £86.95 payable on 1st of each month. Surrender Value £20,732 approximately. On the maturity at the present time of endowment assurances in force for 23 years this Company is currently paying a Terminal Bonus equal to 59.9 per cent of the Sum Assured. The Guaranteed Minimum Value is £26,211.21 provided that all future premiums totalling £7,477.70 are paid. Estimated Sale Price Range £23,000.00 - £23,350.00.
Lot 28
An Endowment Assurance for £15,278.00 (with profits)
Effected 20th May 1994 with the
LEGAL AND GENERAL ASSURANCE SOCIETY
Payable 20th May 2019 or earlier death of a Gentleman now aged 41 or a Lady now aged 43 (Admitted). Bonus additions £5,344.60 to 31st December 2010. (1.25 per cent on the sum assured and 1.25 per cent on attaching bonuses was declared for the year ending 31st December 2010. The interim bonus rate for 2011 is 1.25 per cent and 1.25 per cent respectively.) Premium £61.80 payable on 20th of each month. Surrender Value £16,894 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 74 per cent of the attaching Reversionary Bonuses. The Guaranteed Minimum Value is £20,622.60 provided that all future premiums totalling £5,500.20 are paid. Estimated Sale Price Range £17,500.00 - £17,750.00.
Lot 29
An Endowment Assurance for £10,082.00 (with profits)
Effected 30th July 1991 with the
COMMERCIAL UNION LIFE ASSURANCE COMPANY
Payable 30th July 2016 or earlier death of a Lady now aged 45. Bonus additions £6,698.87 to 31st December 2010. (1.50 per cent on the attaching bonuses was declared for the year ending 31st December 2010.) Premium £46.80 payable on 30th of each month. Surrender Value £14,441 approximately. This is a Homemaker policy. This series has only been in force since 1987 and on the maturity at the present time of assurances in force for 24 years this company is currently paying a terminal bonus equal to 18 per cent of the sum assured and attaching reversionary bonuses. The Guaranteed Minimum Value is £16,780.87 provided that all future premiums totalling £2,574.00 are paid. Estimated Sale Price Range £15,350.00 - £15,650.00.
Lot 30
An Endowment Assurance for £14,625.00 (with profits)
Effected 13th June 1991 with the
STANDARD LIFE ASSURANCE COMPANY
Payable 13th June 2016 or earlier death of a Gentleman now aged 48 or a Lady now aged 48. Bonus additions £6,991.85 to 15th November 2010. (0.25 per cent on the sum assured and 0.35 per cent on attaching bonuses was declared for the year ending 15th November 2010. The interim bonus rate for 2011 is 0.25 per cent and 0.35 per cent respectively.) Premium £58.15 payable on 13th of each month. Surrender Value £19,326 approximately. On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 11 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £21,616.85 provided that all future premiums totalling £3,140.10 are paid. Estimated Sale Price Range £20,000.00 - £20,350.00.
Lot 31
An Endowment Assurance for £9,419.00 (with profits)
Effected 21st April 1994 with the
SCOTTISH PROVIDENT INSTITUTION
Payable 21st April 2019 or earlier death of a Lady now aged 40. Bonus additions £2,645.10 to 31st December 2010. This company is currently not paying any reversionary bonuses. Premium £39.05 payable on 21st of each month. Surrender Value £10,581 approximately (as at 31 August). On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 26 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £12,064.10 provided that all future premiums totalling £3,436.40 are paid. Estimated Sale Price Range £11,350.00 - £11,550.00.
Lot 32
An Endowment Assurance for £9,353.00 (with profits)
Effected 21st April 1994 with the
SCOTTISH PROVIDENT INSTITUTION
Payable 21st April 2019 or earlier death of a Gentleman now aged 40. Bonus additions £2,626.30 to 31st December 2010. This company is currently not paying any reversionary bonuses Premium £39.30 payable on 21st of each month. Surrender Value £10,507 approximately (as at 31 August). On the maturity at the present time of endowment assurances in force for 25 years this Company is currently paying a Terminal Bonus equal to 26 per cent of the Sum Assured and attaching Reversionary Bonuses. The Guaranteed Minimum Value is £11,979.30 provided that all future premiums totalling £3,458.40 are paid. Estimated Sale Price Range £11,350.00 - £11,550.00.
CONDITIONS OF SALE AS TO ALL LOTS
1. If the age of the assured as stated has been admitted by the life office, no further evidence thereof shall be required.
2 If any objections, requisitions or claims shall be made and insisted on by the buyer which the seller shall be unable to remove or comply with, the seller shall be at liberty (notwithstanding any intermediate negotiations or litigation) by notice in writing to rescind the sale in which case the buyer shall receive back the deposit without interest, costs or compensation and shall return the abstract of the title and any other papers in his possession belonging to the seller.
3. If the life assured should die before the date fixed for completion as stipulated in General Condition II, the contract shall be rescinded and the buyer shall have his deposit returned and his proper expenses paid by the seller but the buyer shall not be entitled to any other compensation.
4. If, prior to the date set for completion as stipulated in General Condition II, the surrender value of the policy should increase to the extent that it exceeds the agreed sale price, the sale will be cancelled and the 10% deposit returned to the buyer.
5. The buyer is liable for any administration charge levied by life offices.
6. These Additional Conditions shall prevail notwithstanding anything inconsistent therewith or contrary thereto in the General Conditions which, except in so far as they are varied by these Conditions, shall apply to the lots.
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The next auction will be held at 1pm on
on Thursday 17th November 2011
