New-York tribune., 1867-09-23
LIFE INSURANCE. AND ITS POPULAR


Companies, held last November, was the or
ganization of Chamber of Life Insurance OF
the United States The plan OF this Chamber
was excellent, embOdying as 1t did mutual
consultations and advice among the companies
upon all matters referring to their sclentllc
knowledge, business efficiency, and gencrn
prosperity. One of its first visible results ho"
makes its appearance 1t is q list OF all COM
nanies i'm the United States, the number Oh
their policies. their assets and liabilities anu
nloces of business Such list would be Vail-
able. merely as list if its information were
new. But the facts which it cmbodlcs were
tolerably accessible before the present ISSUE ana
no special credit is due therefore to the Cham-
bcr for bringing them forward Nor can the
tobu,or statement of what the companies have
dome be regarded as particularly impressive.
Tho mind is led to consider the exhibit view
of shortcomings instead Of success. and rather
an indication of what Is possible tlah Il eulogy
upon what has been done.
The total population of the United States
NAV now be roundly stated at 36OOO,OW. There
arc in force, or were on January |, only 3io,3'2
polcies. We exclude foreign countries with
American branches, and Accident" companies.
OF this number of policies, New York, with
population of 9,091,3Oi, issued 1j3,Oll Conncc-
ticut, 92,135 policies, population 3'O@9; Mas
sachusetts, 500 policies, population 1,22l'i32
New-Jcrsey, 1856 policies, population 4So,ooo;
PENNSYLVANIA 1921 policies. population 2,3ll 1856
The total population of these five states being
7,49O,SG9 the total of policies III force Issued
by them is 315,752 leaving $3.50 policies to be
distributed over the remaining two-thirds OF
the population OF course il will be said that
New York naturally absorbs very great pro-
portion of the business of the country, but that
dees not account for the condition OF life IN
surance as gathered from these figures nor for
other significant facts, such as that while New
Jersey with her 1856 people issues 1856 pol
cies. Massachusetts, with three times more
people, issues less than thousand more poll
cieS.
We believe it to be strictly true that the
business of life insurance could be increased
twenty-fold by using the right means of at
tracing the public. The benefits conferred by
the system are too little known and yet they
are as important rs they are various policy
of insurance is at once an investment at a
high rate Of interest and an available security
in many transactions. 1t represents sum OF
money, realiz1blc in ease of the insured party'S
death, often larger than could bc accumulated
BY the savings Of many years, and certainly
larger than the premiums would aggregate If
simply placed out at even compound interest.
II the death be premature the amount is paya-
bic at once and the outlay TO secure it
may be yey tu1ing. The man who has
provided against the contingency of his early
decease has done simple act of prudence and
go. e Il
fort to himself, and regarded by his family as
proof Of his wise affection for them. Should
he desire provision for his old age, he can,
by plan common with many companies, enter
upon an annual income at n specified date, if
he makes an annual payment up to that time.
Should hc wish endowment for his daugl
ters, he can avail himself Of a method whereby
such endowment will become due. In short,
there are in the very numerous and valuable
Developments Of Life Insurance, safeguards
against disaster TO children and widows, and
means by which many benefits can be realized
even during the life of the insured.
OF the manner in which the great truths and
benefits OF insurance shall be best made
known, much may be said. There are many
agents, but how are they selected, and how
many of them arc Jealous in the representation
OF their principals There are prospcctuscs,
but how much ability do they display in set
ting forth reasons for insuring and the dan
gers OF neglecting it There is some adyertis-
ing, but how much Of it is striking and effect
i've! And then the theory of insurance is un-
familiar to large proportion of society. II is
not seen that thousand men may combine TO
pay q small sum yearly, or at shorter periods.
! toward fund out of which the survivors of
each member may at his death be paid a GER
! tain fixed sum; nor that the number who
will die is fixed by the law of averages so
| that a strict calculation can be made if the
| basis of the calculation be large enough
| Many people who now regard an insurance
company as they would merely speculative
corporatiOn which may deceive them or fail,
would, if they knew how certain the results of
insurance are, and that there is 10 speculation
in it, have the faith which would attract them
TO It's doors. This popular education may be
extended very much, and should be. We
should like TO see balance-shccts with state
ments plain and easily followed, and that com
panies endeavor to gain customers by offering
to the public some training by which their
soundness may be proved, and their libclality
| explained.
! Whether the Chamber contemplate this kind
OF work we do not know. But would il not
be well if they induced combined effort to
raise the business into more prominence than
1t enjoys at present! There is nothing to pre-
vent The compilation Of an inexpensive manual