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Auction 2701 9th February 2012

 

 

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 £8,938.00 (with profits)

  Effected 7th August 1989 with the

  CLERICAL MEDICAL & GENERAL LIFE ASSURANCE SOCIETY

 

Payable 7th August 2014 or earlier death of a Gentleman now aged 46 or a Lady now aged 51. Bonus additions £6,013.70 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 2012 is 0.50 per cent and 1.00 per cent respectively.) Premium £34.89 payable on 7th of each month. Surrender Value £15,289 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 £16,000.00 - £16,350.00.

   

  Lot 2

  An Endowment Assurance for £24,570.00 (with profits)

  Effected 1st July 1993 with the

  ROYAL LONDON MUTUAL INSURANCE COMPANY

 

Payable 1st July 2013 or earlier death of a Gentleman now aged 50 or a Lady now aged 42. Bonus additions £12,260.43 to 31st December 2010. (0.50 per cent on the sum assured  was declared for the year ending 31st December 2010.) Premium £129.90 payable on 1st of each month. Surrender Value £38,571 approximately. On the maturity at the present time of endowment assurances in force for 20 years this Company is currently paying a Terminal Bonus equal to 30.7 per cent of the Sum Assured. This was a low start contract with premiums commencing at £64.95.Estimated Sale Price Range £40,000.00 - £40,500.00.

   

  Lot 3

  An Endowment Assurance for £21,344.00 (with profits)

  Effected 28th March 1990 with the

  LEGAL AND GENERAL ASSURANCE SOCIETY

 

Payable 28th March 2015 or earlier death of a Gentleman now aged 59 or a Lady now aged 56. Bonus additions £12,900.00 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 £118.20 payable on 28th of each month. Surrender Value £36,474 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 86 per cent of the attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £59.10.Estimated Sale Price Range £39,000.00 - £39,350.00.

   

  Lot 4

  An Endowment Assurance for £5,000.00 (with profits)

  Effected 1st April 1991 with the

  CO-OPERATIVE INSURANCE SOCIETY

 

Payable 1st April 2016 or earlier death of a Lady now aged 42. Bonus additions £2,146.74 to 31st December 2009. (0.40 per cent on the sum assured and 0.50 per cent on attaching bonuses was declared for the year ending 31st December 2009.) Premium £18.10 payable on 1st of each month. Surrender Value £6,744 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. Estimated Sale Price Range £7,500.00 - £7,700.00.

   

  Lot 5

  An Endowment Assurance for £10,220.00 (with profits)

  Effected 8th February 1994 with the

  SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY

 

Payable 8th February 2014 or earlier death of a Gentleman now aged 42. Bonus additions £2,661.69 to 31st December 2010. (0.25 per cent on the sum assured and 0.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £50.00 payable on 8th of each month. Surrender Value £13,320 approximately. On the maturity at the present time of endowment assurances in force for 20 years this Company is currently paying a Terminal Bonus equal to 21 per cent of the Sum Assured and attaching Reversionary Bonuses. This is a flexible plan and is made up of 10 identical policies.   The details shown above are the total amounts for all 10 policies.Estimated Sale Price Range £14,200.00 - £14,400.00.

   

  Lot 6

  An Endowment Assurance for £10,180.00 (with profits)

  Effected 8th February 1999 with the

  SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY

 

Payable 8th February 2019 or earlier death of a Gentleman now aged 42. Bonus additions £1,187.04 to 31st December 2010. (0.25 per cent on the sum assured and 0.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £50.00 payable on 8th of each month. Surrender Value £8,340 approximately. On the maturity at the present time of endowment assurances in force for 20 years this Company is currently paying a Terminal Bonus equal to 21 per cent of the Sum Assured and attaching Reversionary Bonuses. This is a flexible plan and is made up of 10 identical policies.   The details shown above are the total amounts for all 10 policies. The Guaranteed Minimum Value is £11,367.04 provided that all future premiums totalling £4,150.00 are paid. Estimated Sale Price Range £9,000.00 - £9,350.00.

   

  Lot 7

  An Endowment Assurance for £16,615.00 (with profits)

  Effected 3rd April 1992 with the

  LEGAL AND GENERAL ASSURANCE SOCIETY

 

Payable 3rd April 2017 or earlier death of a Lady now aged 56. Bonus additions £7,625.00 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 £68.87 payable on 3rd of each month. Surrender Value £23,360 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 86 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £24,500.00 - £24,850.00.

   

  Lot 8

  An Endowment Assurance for £11,655.00 (with profits)

  Effected 1st July 1989 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st July 2014 or earlier death of a Gentleman now aged 47 (Admitted) or a Lady now aged 44 (Admitted). Bonus additions £8,245.58 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 £42.18 payable on 1st of each month. Surrender Value £22,167 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 65.5 per cent of the Sum Assured. Estimated Sale Price Range £25,000.00 - £25,350.00.

   

  Lot 9

  An Endowment Assurance for £5,980.00 (with profits)

  Effected 1st May 1994 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st May 2014 or earlier death of a Gentleman now aged 47 (Admitted) or a Lady now aged 44 (Admitted). Bonus additions £2,215.62 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 £27.94 payable on 1st of each month. Surrender Value £8,480 approximately. On the maturity at the present time of endowment assurances in force for 20 years this Company is currently paying a Terminal Bonus equal to 43.2 per cent of the Sum Assured. Estimated Sale Price Range £9,000.00 - £9,350.00.

   

  Lot 10

  An Endowment Assurance for £8,873.00 (with profits)

  Effected 14th April 1996 with the

  ROYAL LIFE INSURANCE

 

Payable 14th April 2019 or earlier death of a Gentleman now aged 40. Bonus additions £2,037.08 to 31st December 2010. (0.25 per cent on the sum assured and 0.25 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £36.84 payable on 14th of each month. Surrender Value £9,887 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 30 per cent of the Sum Assured and attaching Reversionary Bonuses.  The Guaranteed Minimum Value is £10,910.08 provided that all future premiums totalling £3,131.40 are paid. Estimated Sale Price Range £10,400.00 - £10,600.00.

   

  Lot 11

  An Endowment Assurance for £13,230.00 (with profits)

  Effected 1st March 1990 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st March 2015 or earlier death of a Gentleman now aged 44 (Admitted) or a Lady now aged 44 (Admitted). Bonus additions £8,242.00 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 £51.90 payable on 1st of each month. Surrender Value £23,475 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 65.5 per cent of the Sum Assured. Estimated Sale Price Range £26,000.00 - £26,350.00.

   

  Lot 12

  An Endowment Assurance for £8,606.00 (with profits)

  Effected 24th October 1989 with the

  FRIENDS' PROVIDENT LIFE OFFICE

 

Payable 24th October 2014 or earlier death of a Gentleman now aged 53 or a Lady now aged 50. Bonus additions £4,240.22 to 31st December 2011. (0.25 per cent on the attaching bonuses  was declared for the year ending 31st December 2011.) Premium £33.98 payable on 24th of each month. Surrender Value £13,904 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 80 per cent of the attaching Reversionary Bonuses. This is a low cost endowment.Estimated Sale Price Range £15,200.00 - £15,500.00.

   

  Lot 13

  An Endowment Assurance for £16,965.00 (with profits)

  Effected 5th June 1990 with the

  STANDARD LIFE ASSURANCE COMPANY

 

Payable 5th June 2015 or earlier death of a Gentleman now aged 42. Bonus additions £9,531.71 to 15th November 2011. (0.25 per cent on the sum assured and 0.35 per cent on attaching bonuses was declared for the year ending 15th November 2011. The interim bonus rate for 2013 is 0.25 per cent and 0.35 per cent respectively.) Premium £63.64 payable on 5th of each month. Surrender Value £25,039 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 12.1 per cent of the Sum Assured and attaching Reversionary Bonuses.  The Guaranteed Minimum Value is £26,496.71 provided that all future premiums totalling £2,418.32 are paid. Estimated Sale Price Range £26,000.00 - £26,350.00.

   

  Lot 14

  An Endowment Assurance for £10,000.00 (with profits)

  Effected 1st December 1993 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st December 2018 or earlier death of a Gentleman now aged 58 or a Lady now aged 61. Bonus additions £4,228.43 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 £93.90 payable on 1st of each month. Surrender Value £11,627 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 65.5 per cent of the Sum Assured.  The Guaranteed Minimum Value is £14,228.43 provided that all future premiums totalling £7,512.00 are paid. Estimated Sale Price Range £12,100.00 - £12,300.00.

   

  Lot 15

  An Endowment Assurance for £31,535.00 (with profits)

  Effected 13th June 1989 with the

  SCOTTISH EQUITABLE LIFE ASSURANCE SOCIETY

 

Payable 13th June 2014 or earlier death of a Gentleman now aged 62 or a Lady now aged 58. Bonus additions £25,030.99 to 31st December 2011. (2.50 per cent on the sum assured and 2.50 per cent on attaching bonuses was declared for the year ending 31st December 2011.) Premium £158.40 payable on 13th of each month. Surrender Value £65,046 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 60 per cent of the attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £79.20.Estimated Sale Price Range £67,000.00 - £67,750.00.

   

  Lot 16

  An Endowment Assurance for £9,068.00 (with profits)

  Effected 1st September 1985 with the

  UNITED KINGDOM PROVIDENT INSTITUTION

  (NOW PART OF THE FRIENDS' PROVIDENT LIFE OFFICE)

 

Payable 1st September 2018 or earlier death of a Lady now aged 58. Bonus additions £7,855.29 to 31st December 2010. (0.10 per cent on the sum assured and 0.10 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Yearly premium £330.00 payable on 1st of September each year. Surrender Value £18,530 approximately. On the maturity at the present time of endowment assurances in force for 33 years this Company is currently paying a Terminal Bonus equal to 87 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £19,500.00 - £19,850.00.

   

  Lot 17

  An Endowment Assurance for £8,106.00 (with profits)

  Effected 1st September 1985 with the

  UNITED KINGDOM PROVIDENT INSTITUTION

  (NOW PART OF THE FRIENDS' PROVIDENT LIFE OFFICE)

 

Payable 1st September 2018 or earlier death of a Lady now aged 58. Bonus additions £7,022.00 to 31st December 2010. (0.10 per cent on the sum assured and 0.10 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Yearly premium £295.00 payable on 1st of September each year. Surrender Value £16,564 approximately. On the maturity at the present time of endowment assurances in force for 33 years this Company is currently paying a Terminal Bonus equal to 87 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £17,500.00 - £17,850.00.

   

  Lot 18

  An Endowment Assurance for £7,282.00 (with profits)

  Effected 1st September 1985 with the

  UNITED KINGDOM PROVIDENT INSTITUTION

  (NOW PART OF THE FRIENDS' PROVIDENT LIFE OFFICE)

 

Payable 1st September 2018 or earlier death of a Lady now aged 58. Bonus additions £6,308.11 to 31st December 2010. (0.10 per cent on the sum assured and 0.10 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Yearly premium £265.00 payable on 1st of September each year. Surrender Value £14,880 approximately. On the maturity at the present time of endowment assurances in force for 33 years this Company is currently paying a Terminal Bonus equal to 87 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £16,000.00 - £16,350.00.

   

  Lot 19

  An Endowment Assurance for £5,812.00 (with profits)

  Effected 1st November 1989 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st November 2014 or earlier death of a Gentleman now aged 61 (Admitted) or a Lady now aged 62 (Admitted). Bonus additions £4,111.87 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 £33.50 payable on 1st of each month. Surrender Value £10,610 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 65.5 per cent of the Sum Assured. This was a low start contract with premiums commencing at £16.75.   This policy was originally due to commence on 1 September 1989 but the start and maturity dates were deferred for two months.Estimated Sale Price Range £11,500.00 - £11,850.00.

   

  Lot 20

  An Endowment Assurance for £18,850.00 (with profits)

  Effected 8th October 1990 with the

  STANDARD LIFE ASSURANCE COMPANY

 

Payable 8th October 2015 or earlier death of a Gentleman now aged 45. Bonus additions £9,994.00 to 15th November 2011. (0.25 per cent on the sum assured and 0.35 per cent on attaching bonuses was declared for the year ending 15th November 2011. The interim bonus rate for 2013 is 0.25 per cent and 0.35 per cent respectively.) Premium £70.60 payable on 8th of each month. Surrender Value £27,029 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 12.1 per cent of the Sum Assured and attaching Reversionary Bonuses.  The Guaranteed Minimum Value is £28,844.00 provided that all future premiums totalling £3,035.80 are paid. Estimated Sale Price Range £27,750.00 - £28,000.00.

   

  Lot 21

  An Endowment Assurance for £4,000.00 (with profits)

  Effected 1st October 1991 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st October 2013 or earlier death of a Gentleman. Bonus additions £2,192.50 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 £19.96 payable on 1st of each month. Surrender Value £6,948 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 51.7 per cent of the Sum Assured. Estimated Sale Price Range £7,650.00 - £7,850.00.

   

  Lot 22

  An Endowment Assurance for £7,038.00 (with profits)

  Effected 31st May 1989 with the

  LEGAL AND GENERAL ASSURANCE SOCIETY

 

Payable 31st May 2014 or earlier death of a Lady now aged 54. Bonus additions £4,748.50 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 £28.79 payable on 31st of each month. Surrender Value £13,892 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 86 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £15,000.00 - £15,350.00.

   

  Lot 23

  An Endowment Assurance for £7,035.00 (with profits)

  Effected 1st May 1991 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st May 2015 or earlier death of a Lady now aged 40 (Admitted). Bonus additions £3,855.95 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 £34.70 payable on 1st of each month. Surrender Value £11,100 approximately. On the maturity at the present time of endowment assurances in force for 24 years this Company is currently paying a Terminal Bonus equal to 59.9 per cent of the Sum Assured. This was a low start contract with premiums commencing at £17.35.Estimated Sale Price Range £12,500.00 - £12,850.00.

   

  Lot 24

  An Endowment Assurance for £9,750.00 (with profits)

  Effected 3rd November 1989 with the

  STANDARD LIFE ASSURANCE COMPANY

 

Payable 3rd November 2014 or earlier death of a Gentleman now aged 50 or a Lady now aged 48. Bonus additions £5,902.94 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 2013 is 0.25 per cent and 0.35 per cent respectively.) Premium £39.10 payable on 3rd of each month. Surrender Value £15,568 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 12.1 per cent of the Sum Assured and attaching Reversionary Bonuses. Estimated Sale Price Range £16,750.00 - £17,150.00.

   

  Lot 25

  An Endowment Assurance for £7,220.00 (with profits)

  Effected 12th March 1992 with the

  ROYAL LIFE INSURANCE

 

Payable 12th March 2017 or earlier death of a Gentleman now aged 46. Bonus additions £2,386.75 to 31st December 2010. (0.25 per cent on the sum assured and 0.25 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £31.71 payable on 12th of each month. Surrender Value £10,078 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 40 per cent of the Sum Assured and attaching Reversionary Bonuses. Estimated Sale Price Range £11,000.00 - £11,350.00.

   

  Lot 26

  An Endowment Assurance for £8,568.00 (with profits)

  Effected 1st September 1990 with the

  LEGAL AND GENERAL ASSURANCE SOCIETY

 

Payable 1st September 2014 or earlier death of a Lady now aged 44. Bonus additions £5,546.30 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 £34.99 payable on 1st of each month. Surrender Value £16,470 approximately. On the maturity at the present time of endowment assurances in force for 24 years this Company is currently paying a Terminal Bonus equal to 72 per cent of the attaching Reversionary Bonuses. Estimated Sale Price Range £17,250.00 - £17,450.00.

   

  Lot 27

  An Endowment Assurance for £14,070.00 (with profits)

  Effected 1st June 1989 with the

  PRUDENTIAL ASSURANCE COMPANY

 

Payable 1st June 2014 or earlier death of a Gentleman now aged 48 (Admitted). Bonus additions £9,954.00 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 £62.20 payable on 1st of each month. Surrender Value £26,653 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 65.5 per cent of the Sum Assured. This was a low start contract with premiums commencing at £31.10.Estimated Sale Price Range £29,000.00 - £29,350.00.

   

  Lot 28

  An Endowment Assurance for £12,420.00 (with profits)

  Effected 4th April 1990 with the

  SCOTTISH AMICABLE LIFE ASSURANCE SOCIETY

 

Payable 4th April 2015 or earlier death of a Lady now aged 46. Bonus additions £7,039.69 to 31st December 2010. (0.80 per cent on the sum assured and 1.50 per cent on attaching bonuses was declared for the year ending 31st December 2010.) Premium £52.40 payable on 4th of each month. Surrender Value £21,769 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 and attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £26.20.Estimated Sale Price Range £24,000.00 - £24,350.00.

   

  Lot 29

  An Endowment Assurance for £11,442.00 (with profits)

  Effected 3rd January 1995 with the

  FRIENDS' PROVIDENT LIFE OFFICE

 

Payable 3rd January 2020 or earlier death of a Gentleman now aged 47 or a Lady now aged 47. Bonus additions £2,291.82 to 31st December 2011. (0.25 per cent on the attaching bonuses  was declared for the year ending 31st December 2011.) Premium £38.49 payable on 3rd of each month. Surrender Value £9,672 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 80 per cent of the attaching reversionary bonuses. The Guaranteed Minimum Value is £13,733.82 provided that all future premiums totalling £3,579.57 are paid. Estimated Sale Price Range £10,400.00 - £10,600.00.

   

  Lot 30

  An Endowment Assurance for £21,420.00 (with profits)

  Effected 20th September 1991 with the

  LEGAL AND GENERAL ASSURANCE SOCIETY

 

Payable 20th September 2016 or earlier death of a Gentleman now aged 55 or a Lady now aged 55. Bonus additions £10,598.90 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 £114.00 payable on 20th of each month. Surrender Value £29,506 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 86 per cent of the attaching Reversionary Bonuses. This was a low start contract with premiums commencing at £57.00. The Guaranteed Minimum Value is £32,018.90 provided that all future premiums totalling £6,156.00 are paid. Estimated Sale Price Range £32,000.00 - £32,350.00.

   

 

 

 

 

 

 

 

 

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.

 

_______________________________________

 

 

 

 

The next auction will be held at 1pm on

 

on Thursday 16th February 2012

 

at 25 Britton Street  London  EC1

 

 

 

 

FOSTER & CRANFIELD (Est 1843)

 

25 Britton Street   London EC1M 5TY

Tel:  020 7608 1941   Fax: 020 7608 1943

www.foster-and-cranfield.co.uk

 

Foster & Cranfield Limited Registered in England  No: 3448335

Regulated by the Financial Services Authority for the sale of life assurance policies

 

 

 

Foster & Cranfield hold periodical sales of:

 

Absolute or Contingent Reversionary Interests,  Annuities,  Policies of Assurance,  Life

Interests,  Bonds,  Rent Charges,  Freehold and Leasehold Ground Rents,  Agricultural

And Residential Estates and all descriptions of present or prospective property.

 

 

 

Other Services:

 

Valuations for all purposes of Reversions, Policies of Assurance,  Annuities and all other

Interests under Trusts.   Also Partnership Interests,  Royalties, Mortgages and Interests

In Unadministered Estates.   Financial assistance to elderly houseowners.

 

­­___________________________________________________________________________________

 

MEMORANDUM

 

Periodical Sale No: 2701                                                                                       9th February 2012

 

I

 

of

do hereby acknowledge myself to be the Buyer of Lot                          described in the within Particulars, subject to any

amendment as announced at the auction held this day, at the sum of £                                   and have paid £                         

as a deposit and in part payment of the said purchase.   And I hereby contract with the Seller to complete the purchase of the said

Lot in every respect agreeably to the within Particulars and Conditions of Sale.

 

WITNESS my hand this 9th day of February 2012

 

Amount of Sale:                 £

Deposit:                             £__________________                     

 

Balance:                            £__________________                                      

                                                                                                              _____________________________

                                                                                                                                  Buyer

 

 

We ratify this sale on behalf of                                                                            who is/are the seller(s) and as

 

Auctioneers and Stakeholders, acknowledge receipt of the deposit above-mentioned.

 

Buyer’s Solicitors: