The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1872-03-15
HOME INYESrMENTs.

The Association is organized on the purely
mutual, or co-partnership plan. Each State is
created distinct department Of the company,
and the business placed under the management
OF board of directors chosen from its own
citizens.
The language of the charter is as follows
1.-THE Board of Directors in each department
shall loan the money to be invested in said De-
partment'
Section 81 also provides that "the net present
value OF the liabilities of the company, under
policies issued to members of each department
as fixed by, the standard of valuation OF the
company, shall be invested, and kept invested
within such department"
OF the wisdom and safety of the plan adopted
by the Association, the Hon. Elizur Wright, Of
Boston, bears testimony follows
"As the true theory of the reserve on any
policy is that it is a savings bank deposit, or
selfinsurance, applicable only to that particular
policy itself, when it becomes a claim and only
needs to havets principal secure and its interest
sufiicieht, 1t would not seem possible to have 1t
invested too near the locality where that par
ticular policy will become a claim"
To this feature of local representation and in
yestinent, the Association largely owes its
UNPARALLELED SUCCESS. aa
THE ONLY COMPANY IN THE UNITED
STATES that guarantees u chartered right
the principle of local management and local in.
vestments in each State.
The ONLY COMPANY which, by its charter
gives to each State y representative in the
HOME BOARD OF DIRECTORS. gt
NoN-FORFEIrING POLICIES.
An policies non. .forfeiting after two pay.
ments are made, when either paid-up policy
can be secured for un amount proportionate to
the number OF premiums paid, or the policy
rendered and ninety per cent OF its ''net present
value" received in cash provided by the char.
ter.
G. E. KING, Deputy Superintendent of the In
surance Department of the State of Missouri,
after thorough personal Investigation of the
affairs of the Association Dec 30, 1871 says:
Il tn rlnt. Al
oHicers and members of the Life Association OF
America upon its present highly prosperous con-
dition, and upon the high position the company
justly occupies among the life assurance organi.
cations OF this country. fs
(Signed) Q. E. King, Deputy Supt.p
julius l.. CLARKg, Insurance Commissioner of
the State of Massachusetts, says under date OF
December l. 1871:
The Life Association deseryedly ranks alnong
the prudent, conservative, and best managed life
insurance organizations in the United States"
The Hon. WIN. BARNES ten years Superinten-
dent OF the insurance Department of the State
of New York, says;
so far as my knowledge extends, no com
pany in the world, curing the same time from
organization, has ever issued so large an amount
OF policies, or received SO heavy an amount OF
Il do not hesitate to recommend the Life
Association of America to the confidence and
patronage OF the American people in any State
of the Union.n
The following resolution of the Board Of
Directors was unanimously adopted March H.
1872
"Resolred, That the Board of Directors of ths
Virginia Department Life Association of Amer
ca cordially endorse the plan and objects of the
Association, and recommend it to the confidence
and patronage of the people of our State"
NH l5--tf