Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1871-04-07

Homer Morgan. 100000 r. D. Woodworth 10000
Ef f. RafSeisc6 1SS 4 " G 4sst SS
Why do these solid and successful business
men, who have proved their financial skill
and good judgment by practical results, in
vest so largely in life insurance? Because
experience has taught them its value in
guarding against dangers to which all men
are liable-the danger of losing accumulated
i wealth by some stroke of misfortune, and the
danger of dying suddenly with affairs so
| conditioned that no other hand can carry
| them to aprofitable issue.
But if such men feel and acknowledge the
vast advantages of life insurance, how much
more strongly do these benefits commend
| themselves to those of moderate means, and
even still more to that large number whose
fortunes are in the future, whose loved ones
are dependent entirely upon the continuance
of the health and life of the head of the
family.
Can any insurable man be said to have
provided for his family, who has left them
to the risk of poverty in the event of his
| death?
Life insurance is Savings Bank which
| secures to every man who avails himself of
its benefcent aid, that he shall leave an in
| heritance proportional to his productive
power, whether he dies tomorrow or lives to
| exercise that productive energy for long
|
do this. There is no other way in which a
young man starting out in life, can be sure
| of leaving his family provided for at his
death. Of every hundred who attempt to
leave an inheritance from the successes Of
business, not five succeed. No man has the
| right to expose a tenderly nurtured and
dearly loved family with no protection but
the small chances, practically much less
than five in a hundred, that he will be one
of the successful ones.
Within a very short time a well-known
gentleman has suddenly died, while in the
mid of full health and apparent success,
by an accident. The gentleman's success
| depended upon carrying through certain
matters which he had in hand. His estate is
bankrupt. Thanks to his wise and loving
! forethought his widow and children arc pro
vided for by the proceeds of his life policies.
| Not long since Gen. B. of our army, calling
upon friend to get his pay for the coming
month cashed, was invited by that friend to
| insure his life. He was in splendid health
and always needing all his money, he
| thought he could not afford it. But, said
his friend, will pay the first premium and
| you may repay me when convenient. No, he
felt no fear. In three days from that time
it was too late, he was dead and his widow
| destitute.
Every one admits the advantages, the
blessings conferred by life insurance, but
they complain that they cannot afford the
| expense, and so try so excuse themselves to
their conscences for what they already
know to be a neglect of duty. But it is not
true of any young man in health and with
| the possession of his faculties, who is fit to
| have any responsibilities at all, that he can
not insure for something. He may perhaps
not be able to insure for large sum, but GER
tainly he can for a small one. How few men
of twenty-five there are, who do not spend
| for unnecessary luXuries, more than twenty
| five cents a day; yet that amount will in
| sure a man of that age for more than $4,000
| in the NORTHWESTERN MUTUAL LIFE 1NsUR-
LNCE COMPANY, which is one of the best and
most desirable institutions to be found in
| this or any other country. The success Of
| this company has been truly notable. Its
| growth is healthy as we'll as gigantic. It's
policies are not large, but are held by those
who need such protection the most, and who
| are also the safest and best risks to be asso-
| ciated with. The Northwestern" is a
purely mutual company in which all the
members are partners and all are equally in
terested in having healthy associates and in
| having the risks we'll scattered. All these
| things are important elements of strength.
One of the most vital points about life in
surance company is that of expenses. Large
expenses undermine a company, but with
small expenses, carefully selected risks, and
large interess on investments, the very best
results are obtained.
The conspicuous economy practiced by the
management of the Northwestern" is best
shown by the "Spectator Life Chart for
1872 which gives the ratio of actual ex-
penses for the year 1870 of siTty1,iaae life
companies of the United States. This ratio
is for all Vorking expenses of the companies,
including death losses, and of the entire
list, but three have a lower ratio than the
Northwestern" This table gives the
tics thus:
Mutual Life of New York .................24.67
Economical Mutual ..........................26.76
Charter oak
Northwestern
Being Western company they are able
safely to lend money on strong security at
ten per cent. interest, while they keep re-
serve calculated at four per cent. interest. A
sum of money invested for so years at ten per
cent. compound interest will yield more
| than six times the amount it would produce
| at six per cent, and nearly five times as
| much as at eight per cent. another essen
tial point is that an insurance company shall
be we'll managed and in this respect no bet
ter can be found, and the remarkable
growth of the society is doubtless largely
owing to the general confidence felt by the
| people in the managers.
The total amount of losses paid since the
organization in 1859 to Jan. ], 1871, is 81 ,692,
| $500, of which SAT- ,0S5.11 were paid dur
| ing the year 1870.
| It's total income for 1870 was So, $40, 370.07,
! and its interest receipts were $3.50, 1915.
During the year it loaned on real estate Sc
| curity worth two to five times the amount
| loaned, ST 400 100000, at ten per cent inter-
| est It's assets are nine million dollars.
| Whatever surplus remains after the expen-
ses and losses of the year are paid, and suf-
| ficient amount reserved to meet all future
| liabilities, calculated with interest at four
per cent, is returned to the policy holders.
| This return of surplus, commonly called the
dividend, is distributed to each member &C
| cording to the amount which he has fur
| nished toward making it. This is believed
to be strictly equitable, and is the plan
| adopted by most of the oldest and best COM
panies. A note will be taken for a portion of
| the premium, or in other words,
the company will loan portion OF
| their assets to their own members, such loan
being fully secured by the surrender value
of the policy This is a very good invest
ment for the company and perfectly safe,
and oftentmes it is an advantage to the in
sured. 1t enables the insurer to obtain a
larger amount than his cash payment would
alone procure, and if he dies early the fami
| " gain by it. If, on the other hand, he
lives long and becomes able to pay back the
| loan, supposing that it is not Cancelled by re-
turn of surplus, he can do so. There are
many persons who need large insurance at
the beginning, and for them the note is
accommodation.
Take it all in all, there is no company
| which offers greater advantages than this
Giant of the West. and we advise everybody
to examine carefully its publications, where
| all tho inform, tion is piVen which can ONLY