Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-01-03
Life Insurance.

Life Insurance.
From the Baltimore Episcopal Methodist, De-
cember l9.
We have in previous issues called the
attention of our readers to the benefcent
advantages extended by the institution Of
life insurance, and also partially explained
the different modes of insurance adopted
by the various life insurance companies,
among which we then particularly alluded
to what is termed the "stock plan," or, in
other words, where all the profits, arising
from the Investments of the moneys, paid
by the insured TO the company, go TO the
stockholders. 1t is now our intention to
explain to our readers the benefits accru-
ing to the insured from the mutual pro-
priety plan, where q certain per cent. of
the profits are divided between the stock
holders-and the balance is paid TO the
policy holders. In purely mutual COM
pany there is no capital or guarantee to
the insured beyond that which The COM
pany may receive from its insured in the
payment Of their annual premiums. In a
mutual propriety company there is in ad-
dition to the accumulated assets Of the
company a capital paid in by stock holders
as an additional guarantee to the in
sured that their money will be wisely
and securely invested. Among companies
of this kind we notice in the Etna Life
Insurance Company of Hartford, Connect
cut. The old Etna Insurance Company
was chartered in the year 1919, with the
privilege Of doing both fire and life insu-
rance, but did not avail itself Of the life
insurance privilege until the year 1850,
when It commenced TO insure lives on the
stock plan. When the life business had
grown to such proportions as to make it
desirable 10 separate it from the fire insu
rance department, new charter was pre-
pared for the Etna Life Insurance Com
pany. The E.na Life-the vigorous Off
spring of the old Etna Fire-has now
largely ouigrown its mother, its assets be-
ing now nearly double those of the old
company. In 1861 they adopted the mu-
tual plan in connection with the stock plan.
At time when The entire assets of the
company were less than four hundred thou.
sand dollars, the stockholders, preferiHg to
share with the insured whatever of
success or disaster the company might
meet to receiving a stated compensa-
ton, voted at their annual meeting in
the year 1864 to receive II per ct. of the
premium recei pts for conducting the bust
ness Of the mutual department, and this
was in lieu of all other charges Of officers,
trustees, directors. agents, clerks and other
employees. Since that time the assets of
The company have increased from four
hundred thousands of dollars to over ten
millions Of dOlars-and the receipts of the |
company are now over ak millions per |
annum, while its assets are increasing at |
q rate of three and half millions of dol |
lars each year. Ia view of this fact, and |
the enormous receipts Of the company, the |
stock holders,-With that spirit ofliberality |
which has heretofore characterized their
course, aud which has been the means of
placing the name and reputation Of this
at the head Of life insurance
have turned their attention TO the large
profits derived from this source, and have
now voted 10 divide the entire profits
among the insured and TO allow themselves
legal interest only on their capital stock.
We do not hesitate TO cay that such gener-
BUS action on the part Of the manage
nent of this company will not
all TO meet its due reward at the
hands Of the insuriHg public. The Etna
Issues policies ON the All Cash Plan-at
Rates Lower than any other leading Com
,any with Dividends Annually in Cash
IN the Contribution Plan, and may be APP
llied as the assured shall elect either 10
educe future premiums or to increase the
ash value Of the policy. 1t also accom-
nOdates its insured with the Halt Cash
nd Half note System, if they desire it
With dividends on the per centage plan.
Ne take great pleasure in recommending
be Ktna 10 our friends Of the South be-
ause at time when the spirit of discord
nd party strife agitated the whole country
nd while many other Companies refused
D acknowledge the claims of those who
ad insured previous to the war, the Etna :
Tag among, if not the frst TO come out fairly
nd honestly with the offer TO reinstate all
s policy holders throughout the entire
outh. We have written more than we
ltended, but it is such rare thing to fnd
corporation with a soul that we cannot,
hen we fnd one with a soul easily given
p contemplating go rare and pleasant a
l