Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1870-02-25
Mutual Bsnrnt Life Company, OF Hart.
(,rA

Mutual Bsnrnt Life Company, OF Hart
ford, CT.
This company is founded on IN entire
differcn. plan from any Of the Old Stock
Companies It's operations are so simple
and the benefit guaranteed so sure. that all
can readily understand IT, The advantages
over tho Old Stock Life Insurance Com.
panies il worthy the attention Of every
one. Nine dollars makes one stock.
holder in the Mutual Life Benefit Co.
which entities that one To- tho benef. Of
his or her heirs, 10 $4,000 ut the dcceas,
OF such person. The principle is this A
company Of healthy individuals Is formed
into divisions OF 5000 each. of different
ages. viz from Is to 80 forms one division,
from 30 10 80 another. from 30 10 60
another, and from 90 To 40 another. So
when any of either division dies, 81, 10 Is
paid by all the surviving members, which
amounts (if the division is fulD tn 5000.
which is guaranteed to the heirs OF the
deceased by an honorable company,
chartered 10y the State for this purpose
with a guaranteed capital OF 600. 900.
10 ordinary companies the rates are so
high that great number of persons are
excluded, because they cannot obtain the
amount of money required: whereas IN
/ tai, company the fees a"c 80 triiling that
any person, whose health would be
/ sufficient 10 be admitted member can
! avail himself at The opportunity OF leaving
n competency TO his family, whenever he
! i removed by death. Another advantage
/ derived from this company is. it extends
! is benefits To woman. In the old compa-
I MES no policies are allowed to DC issued
! TO women; while in this, all stand upon
/ n Lowell. The husband and wife can take
out joint policy, without increasing the
rates; then If the husband dies first, the
! vile is sure of 5000, and still her insurance
goes on the same, so that at her death
5000 more 20 10 the children or heirs.
and yico versa.
The objection may arise with some,
whether the mortality may not be 50
great in the division that the dollar paid
to The heirs OF those that die may not
amount TO rs much. or perhaps exceed
that oil the old companies. y careful in
yestigation of the tables Of mortality,
drawn from thirty three oi the oldest and
most popular Life Insurance Companies
in New York, shcw 4 loss in 1868 OF less
than 81 members to every 1000 insured,
and for II years an average loss OF less
than 81. But suppose it might in some
years amount TO forty, or even to hlty.
which is not likely 10 be. yet the expense
would be light compared 10 the otheE
companies for in 10 extreme case III this
company could the assessment be over
go per year, whereas 5000 policy
in the other companies would be from
500 70 $500 per year, according to age
Besides, in this company the sum is Sc
small n any one time, being only Sl,lO,
that the amount yearly is scarcely felt.
There is no chance for this company tc
tall, for each one keeps his own none!
in his own hands until death occurs.
Then there is no chance for The company
to grow rich out OF the peoples funds, as
many oil the old companies have done
and even boosted of their large accumu
Lated funds, because all money received
from new membership fees belong to the
whole company, and if more should &C
cumulaie than what is needed TO pay eX-
penses, it must be equitably divided. fol
each member becomes stakeholder. ant
rs such is entitled to vote !; and no los:
can occur in any case except when
member dies. Each one keeps his Owl
money, instead OF intrustiDg it to others
with the promise of paying back SINAI.
per cent, ut some future time.
1t may be clearly seen from the table:
ofmortality annually in the old companies
and the rates OF insurance required. tina
J about five times the amount is paid OF
each policy issued as is sufficient TO NEE
J all losses. The facts show the absolute
need of company adapted to tho neces-
stiles of those in moderate circumstances
founded upon the principles of equity, anl
which at the same time offers undoubteG
, security Biddeford Union d Journal