Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-11-25

Panies aud RevuIsfOns-Our Duty.
When business is thought to be good, it is not
easy 10 convince the apparently prosperous mer.
chant that his chance for failure is more than
nineteen il twenty but in such times as the
present it is not so entirely difficult. The accu-
mutations Of lifelong assduity and industry
are swept away without notice, and the million
aire is bankrupt. Who in trade now can say
that his stakes are securely driven; that he has
estate beyond contingency to leave his success
sors Not unfrequently, after years Of apparent
prosperity, does bankruptcy overtake the trader,
and his consequent mental trouble Induces dis
which causes death. The merchants or
traders family should be provided against these
various contingencies of such very frequent &C.
curIence. II persons do not find themselves in
position to effect settlement as before suggest
ed, they can effect life insurance, which is the
next best thing. Indeed, IN some respects lie
insurance is notwithstanding it does a
competence to the family in case of the death of
the natural head and dependence, whereas an
estate may be lost or expended by the party on
whom It is conferred FOR the party conierrng 1t,
II II is thought his wants require It,
Life insurance beng available TO a much more
numerous class than the other mode OF provision
named, We may be permitted a single suggestion
to guide those of who may adopt tins recon-
incubation. We once found person in an East-
eIn town, who. on saying that he had lost yes
sci, was asked If she was insured. de answered
sthrmatiyely, but said the company, which was IN
Indiana, was thought to be worthless. We could
but suggest to that person that one OF the two
insurance companies Of his town, known TO
be solvent, and who knew all about the character
of his risk could give him a real insurance cheap
er than any distant Office, whether the distance
large or small The same principle holds in
life insurance. Without any prejudice towards
foreign companies, the life insurance companies
Of our own State i'll all respects equal to those
having their homes at a distance, and any one
DESTROYS Of lnsuring may personally know those
having their direction. and from them can pro-
such facts as will enable them to judge
something Of their character and solvency.
single fact will illustrate the necessity OF caution
IN this respect person, in making his appll-
cation for life insurance a short time since, was
asked the usual question: if his life had previously
been insured. He answered that at one time his
life was insured in five different companies, four
Of which failed within three years thereaiter.-
Boston Transcript.
We commend the above to the attention of our
readers, especially those who are not insured, or
those who are insured in companies Of doubtful
responsibility. And we would add this caution
whenever any company or its agents tell of max
ing great dividends to policy holders, it may be
set down certain, that there is fraud some
where in the concern, as life insurance is matter
Of almost exact mathematical calculation, and
the amount of premium is adjusted as to allow
of only such leeway required to guard against
the extraordinary contingencies to which the
safest business is always liable. The company,
therefore, which makes such dividends, must, in
order to do so, if it do not take much higher pre-
miums than other companies, necessarily draw
upon the funds, which, at some future day, will
be required 10 meet their inevitable losses This
fund being thus reduced, will leave the policy
holders without any adequate security for the
policies, when they shall have matured by the
death of the parties.
Those who would obtain insurance on their
lives will find the STATE MUTUAL LIFE AssUR
ANoE OFFICE in this city entirely safe one, and
one which, by the exercise of the greatest care
and economy in the management of their BUSH
ness, is enabled 10 put the premiums at the low
est possible rate. Being mutual office, il there
is any surplus beyond what is necessary to
meet the policies, the insured get all the benefit
oft. Eleven years of successful operation have
demonstrated the correctness of the plan on
which tits established, the fidelity of its manage
ment, and the solidty Of its basis. Its fund is
now large and well invested, and is such as would
enable it, if it wished close up, to rensure all
its policy holders at another Office, and still leave
a surplus on hand