The Sun.
London, England, 1869-10-02 00:00:00

The Boston Daily Advertiser says :—" Life insur-
ance in Massachusetts, according to the commis-
sioner's report just published, has had another year
of extraordinary prosperity. Of the 59 companies now
doing business in this State, the oldest dates back no
further than 1845, and nearly the whole of the more
than a billion and a half of insurance represented
in
this report is the growth of less than half a genera-
tion. It is one of the very few great interests which
among us have known no fluctuations from the be-
ginning, but it has grown steadily in war and in
peace till it is without a parallel in the annals of
corporate enterprise. Since the official valuation
of policies was begun in ISSB, the number of com-
panies had increased from 11 to 56 at the beginning
of the present year, the number of policies out-
standing from 40 thousand to more than half a mil-
lion, the amount insured from 117 millions in round
numbers to 1,567 millions, the annual income from
5 millions to 77 millions, and the computed premium
reserve from 11 millions to more than 140 mil-
lions. Much of this large increase is due unques-
tionably to an increasing appreciation of the benefits
of life insurance, and much also to the energetic
competition which since 1865 has made the
business of insurance one of the most active
as well as one of the most fruitful in the
State. The novel methods of insurance lately
brought into vogue, which, though somewhat be-
wildering to the common mind, are nevertheless
made in the Lauds of skilful agents to appear at.
tractive, have led many of late years to invest in
this way, with the expectation of living to reclaim
their own with usury. Not even the scepticism
excited by the failure of many old companies in
Great Britain, certified by the best names in the
realm, nor the exaggerations and extravagances with
which some new companies have brought discredit
upon life insurance, nor the difficulty of understand-
ing the process by which the continued solvency
of any particular company is assured, have pre-
vented the most sagacious men from contributing
to swell the immense pecuniary interest which this
branch of insurance represents. The policy.holder
is made to feel secure, not so much by the strength
of the names which give eclat to his particular cora-

pony, or to the representations of its enterprising
agents, as to the searching and thorough tests to
which it is liable under our laws, made in accord-

ance with the judgment of accomplished actuaries,
and with the best light they have been able to
throw on the science of insurance. The report
now before us shows with what labour and fidelity
these tests have been applied in this State, and with

what good results. The tables are full and eornpre.
hensive, and cover every point which has been
brought into controversy in connection with the busi-
ness of life insurance. Upon the strength of these
tables the commissioner deprecates the multiplication
of companies and the tendency to extravagance of
management on the part of companies newly
launched. He also introduces a timely caution to
applicants for insurance against _the new-fangled
plans which have come into use. These secure large
and quick returns to agents, and secure to the com-
panies the control of large capital to compensate
for the remote liability. But they are speculative
in their nature and aside from the legitimate pur-
poses of life insurance. The old-fashioned whole-
life policy, or, better still, the endowment-insurance
policy, to provide against the possibility of depend-
ent old age, is commended as by all odds the
cheapest and best form *of insurance for those to
whom life assurance is a necessity, and who cannot
afford to deal with the company except upon the
best terms for themselves."