The so-called Family Income Benefit introduced, or reintroduced, into this country some four years ago has received an astonishing welcome from the public. Its rapid popularity as an addition to the ordinary whole life or endowment assurance policies has a parallel only in the disablement income benefit granted by the American and Canadian Offices in North America. Although there is no reason to anticipate that the history of this supplementary benefit will follow the unfortunate course of the disablement benefit in America, an early examination of the problems connected with it is most desirable, for the policies are not without their pitfalls and limitations.

During recent years the normal machinery for making international payments has suffered progressive dislocation, amounting in some cases to complete breakdown. This failure of foreign exchange markets to function properly affects insurance business in so many ways that it is fitting that this Institute should give some consideration to the problems that have arisen and to the efforts that have so far been made to solve them.

Those who have not had the advantage of any practical experience of reversionary business usually find this subject difficult, especially in regard to the treatment of the special contingencies which occur and the assessment of the premiums on the policies to cover these risks.