Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-01-15
Mutual Life Insurance.

The light Of science In modern times led dscov-
cry which promises unaoyed good, and substantial
suance The subject Of the greatest interest," and
the community awakening Of its i'm
Porsnce admirably adapted for making pro-
vision for the comfort and independence Of families
Life Insurance upon the puIely mutual principle, which
gives 10 the insured the whole Of the profits is advantage
to all classes of society the Of limited MEANS
and 10 the wealthy well-conducted institution upon this
principle gives 10 the party insured immense profits, in add
tion the insured policy Such been the
experience in Great Britain, and doubt will be this
country. Ii offers safe investment for money, giving
greater returns than most pursuits But the most decidedly
portion Of the community IN all professions and pursuits
who have families friends dependent upon their personal
aho earnings LOT subsistence 10 these classes IT'S
utility evident that it surprise the
practice Of il has been general.
The subject has attracted attention by observing
statement Of The Mutual Life Insurance COMPANY of
York, which will be found in another column This state
ment exhibits the affairs Of this Company 10 be in very
prosperous condition This institution was the first in this
country organized the purely system and
unexamped has fully established the soundness
the principles upon which is based The business Of the
Company exclusively consigned that Of Life
The parties insured participate IN the h0le of the profits
having stock capital to absorb portion Thereof pre-
miums all paid in cash. and invested the charter pres
crbes in stocks of this State and city and bonds and
mortgages real estate in this city and Brooklyn, worth
double the loaned thereon II commenced operations
the Isl Of February lS43 without capital depending solely
the accuing premiums and expenses Ii
has been operation two years ten months during
which time it has accumulated cash capital of nearly
is invested in the securities above mentioned Progressing
in the ratio, its cash capital the LIST of February,
lS4S 1.-THE time Of making its first division of profits will
be S60000O and the dividend then be carried the
credit of each existing policy will be 20 per the
amount OF premiums paid that is, party having made FIVE
annual payments of 500 each, will have his credit $3.50
10 addition the insured payable DEATH These
results growing out Of the cash system Of payments adopt
ed by this company The advantage of such system Ia
obvious, strengthens and gives stability
On and enhances the benefits to the survivors of the
sped The disadvantage Of an opposite practice equally
obvious Loaning the funds of the company pTom
sorry notes of individuals giving credit premiums,
mpars the security, materially reduces the accumulation
the parties insured and necessarily dminshes the advanta-
ges sought to be secured by the insurance. the proec
ton Of surviving families from and its attendant evils
The moral tendencies of the cash system
lost sight Of the saving IF the requisite the
annual payments will naturally induce exemplary
omy in families
There two prominent objects which can be effected
by means Of Life Insurance. The first in importance and
of the highest consideration that husbands fathers
comfortable provision in the of their
DEATH TO their widows and children The second is that all
persons having pecuniary interest in the existence of
e ecufe that transactions OF the Mu
ua Life Insurance Company Of New York, will to
illustrate the subject
gentleman residing the Indiana on the 18th
of August last took out policy with this Company his
life for 50 600 -but payment was made of Sl02 He
died 10Th of September his widow received from
the Office the insured 5000. She forcibly
pressed with the advantages o. Life Insurance. being
pient Of its benefits that she Immediately effected nsur-
in the of 1000 her life with this office,
for the protection of her family of young children
merchant IN one oil the southern States had debt due
him of S5600-knowng that its ultimate payment depend
ed the continuance of the life of his debtor he took
policy with this office for that sum; years pre-
MUM had been paid Of S6 S4soon after he attacked
with illness which terminated his life in September
last The company presentation of the requisite proofs
Of his DEATH paid the insured and by this precautona
~ he Unexpectedly and suddenly realized doubt
full claim.
gentleman Of New York becomes security for his friend
in the of $4,000 by endorsement his paper He had
prudence effect insurance his life this Office for
that amount only; payment 1867 made-this
done the Sd of July last and he died the 18th Of Sepem
ber The company paid him the S3000 which he applied
to the payment of his endoremen-thus by this insurance
he released from his liability, which otherwise might
have put him to serious incon venience.