Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1869-02-23
The National Life Insurance Company.

The success of the new National Life Insur-
ance Company has been remarkable It's charter
was granted by Congress July 20, 1868; on the
LIST of August, just one week later, the Com
pany advertised itself as ready for business, and
In four months thereafter, when but compare
lively few agencies had been established more
policies had been issued than are taken
out with most new companies during the whole
first year of their existence. One main cause
for this great success is undoubtedly the fact
that many of the leading bankers of the coun,
try, including Jay Cooke & Co., and Clarence
Ii. Clark, are interested in the enterprise as
Directors, stockholders, general agents, or sub
agents Combined with the financial talent
thus engaged is an energy in making known the
peculiar features Of the new organization which
has popularized them, and to quote the motto
OF the Company, made assurance double sure
that the plan was well conceived and wisely ex
ecuted
The National presents the old subject of
Life Insurance in new phases, which seem
happy innovation upon the long established
routine treatment. 1t ignores entirely the max
ing of dividends to policy-holders It bases its
transactions upon the assumption, that the cost
of insurance is as we'll ascertained as that of
any other commodity offered for sale, and it
sells that insurance at as low rate as safety
will warrant, without any promise to return to
the Insured, at some future day, an amount
necessarily uncertain, because dependent upon
the Company's future business and exemption
| from possible losses Mutual insurance
companies know the cost ofinsurance but fear
ing that some unforeseen calamity may increase
| this cost to them, they charge their policy
holders sum In excess of this known COST
promising after sufficient time has elapsed to
remove the apprehension of such calamity, to
return to them, in dividends, the excess thus
originally charged. The National Life acknowl-
edges the liability of such contingency, but
provides against it by capital of one million
dollars, fully paid up, and securely invested
Insurance with this Company is thus made a
simple business contract-so much insurance
for so much money, with no possibility Of mis-
representations by agents or OF undue expecta-
tons on the part of policy Life lnsur-
ance, more than almost any other form OF IN
yestment, should be made definite bargain,
subject to no Quotations or complications.
The last three months, with the uncertainties
and excitement of elections, and the striDgency
in money at the great business centres, have
been extremely unfaYorable for starting new
! enterprises, and yet this Company has achieved
| the success which we have noted. Arrangements
are being made with the well-known house of
| w ellis, Fargo & Co.. to establish an agency on
| the Pacific coast, and agencies through the
Southern States and the Canadas are also in
| contemplation. 1t is probable that before the
| close of its first year, the National Life will
have its business connections as wide spread,
and will be in receipt of a revenue that will
| compare favorably with the oldest insuIan
companies in the world.
r. T. PHILLIPS, AGENT.
| IItL STAUNToN, Va