Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1871-01-12
TFrom the Chicago Tribune, January 1st, 1s1LI
Grand Confidence Operation Of Over
ago. .ONO.O

This sum i taken annually from the pockets Of our
sworn statements Of hftyhree life Insurance companies,
6s and 1859 and being ali the companies so doing bust
hess and making definite reports touching the points here
ports Of the New York and Massachusetts Insurance Com
Having been penitted 70 examine the advance sheets of
circular being issued by the National Life INSURANCE
me felioyyinp cnncIrsions. A -Nf0 S~A-SN- s-FF' ~
That t6sse ,iftyilse compa3es paid s1tIS1os!Ao !A
an average two and half times much for expenses as
pays 81 for loses 6y death he pay Is So for the expenses
ofrunning The machine
omPaes is for rs he sSt ge 1888 g Tae s and the
whole amount paid by them for lsss by death was slt
ls1OSSiO, or about onesixh Of the amount received
for premiums leaving the handsome profit for these g
business with ordinary economy, should never have ex
eeeded sOOOOo and upon the cooperative plan, would
taken from The hard ernings OF he Insured Of sc
p That the actual cot OF Insurance for the first four
gears of the business of all the companies organized in
nSs not eas eseeG or @ s5nis
1se by deahl The ayege ss Of al The insTTsd TS LIN IN
pren@gm @ in ,he " S3ogs G @ sSmPsnss at at
5000 years while the average cost for assessments
8, ir oses by death on the cooPeatye plan OF S6 per
ef & m Add e this s Sa s,s for &C., SSSeSn id
and the annual dues OF 50 per 900 Insurance $40
5000 $40 for four years and We have the
oPcaTe 'pr pan no9r sf or s per ' aSnGm beng
saving to te insured over The old Plan OF s r ST t91T
Expectations T. e. Is years this saving will 10 per
2r can ry r1 amoTII ncs % 4 would be more to his
advantage to keep his money in his business 1t is to be
suance the cooperative plan he has on the other In
OF Denfs IS = ne "a a G in ee, M m he hee sayn Is
shown to be nearly 400 per cent.
on the cooperative plan In the Mutual Life of New York,
after the n9 e9SPRPan had ben in eee e. @
This is still further confirmed by another table giving the
average number by DEATH in 1865 and 1853 OF all
the companies doing business in the State of New YORK,
which Is only Sc in Loo requiring an assessment oil
The total per year for 5000 Insurance. in the Mu-
ual Lie had been the cooperative plan. afer the
be as follows:
Annual dues for 5000 s2OO per 81 900. 5000
Assessments for death losses on 5000 at s6S5 per
Expense Of cOiccg assessments al 10 per CENT. sli
Total cost on 5000 insurance the cooperative
plan. z1bf
As this company had been IN existence for many years
the average age must have been GREATER than IN taoe NO
s5y az rTs, @ am az ~ sS o. ~ o6 ne IN a lie e1
panies is $50 for $1,000 or $Si5 for 5000 insurance,
leaving saving In one year In favor oil cooperative nsur-
should the insured live his expectation co years.
this saving, each year. compounded at 10 cent, would
amount TO the handsome sum Of $500 Ss r., During
5 oea M he @ anS ease e pe % Pe he
nothing as he has only Pad The actual @ Cost Of ns1r s
stops paying the whole amount, including the large
ocsrpyne and the accrued interest thereon, Is CON
As to the solvency of these So companies. careful
showing the reserve compared with their
realized assets find the companies stand follows
legal revc; 10 companies have only 80 per cent 13 have
and have per cent Of the amount required by law and
that in the ageate they short of realized assets Sl
2spoor unTo tuntdes who could not pay the eobtanl
| irenfpnls, proving concustvely that there were =
chance for himself or his family receiving anything
We would call tire attention of Western legislators tc
this swnde and appeal To them TO enact suci
tions The Insurance Commissioners and Legislatures
the Eastern States who consented TO this system mus
continuing it, The Lawmakers for the Western State.
should no longer copy laws made in the interest Of 1e
York but enact laws not only to secure the insuIe sl IN
awiy in life nsursnce to Eastenn comTane the hand
OF the People for Western dsysormeH & Inc o ola CON ,
Tor life insurance from the people Of the West than N
cost q our several STATE mn en- % . s W I sis S
| lators, is this true? Let Us see! So,
for the sake courtesy that these sworn statements
although FORCED and doubtess maae 70 snow 20 ,t s
sy be- Is iastrSied by the ae that the Great westeTi
naSe 3s Of Msssachusetts Insurance Commissioner
reports, claims assets 10 amount of ss has sine
appointed to wind up iis affairs How many more VII
follow in the footsteps Of the 2S similar high rate Ens
any polcyboleer IN one Of these high rnis compane
hties let them write Iii company and oer surende
their policy and endeavor TO ascertain what the copAr
g py IA arc san coed at S & % scnmP see what
conteinptible offer they will make you. you.,-r.sx,
ional say in favor Of the cooperative system ye
e e Ifs - ol te ilH he pTinep f insurance and
fully established the proofs that we have long been sur
rates q the old style cSmpan that We are 10th to b
eve that the storm that has been raised by te old CON
panes is tie result Of yrtnous % Indignation but rather
wall OF despair the danger they fear in losing busines
that has so long nourished and sustained & incnl-
CHICAGO. Dec. 81, 1870.