Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1872-08-29

The New Jersey Mutual Life Insu-
rance Company OF Newark, New
jersey, during the past year have met
with a success which greatly over
reached the expectations of the most
isanguine. This success has only in
fcited their endeayors to continue,
during the present year, the large in
crease OF business, and still mGritori-
tously possess the good opinion of the
public which they have secured. To
assist in effecting this, they have placed
before the public a new feature or plan
of Insurance, whereby, men insuring
may, if possible, purchase their Insur-
lance at a less cost than heretofore, and
thereby increase the proportionate
amount of their investment. This OBJ
Iject has been attained by offering to the
public new system of Insurance
known as the Tontine Saving Fund In
surance. This method or system may
be explained as follows: All policies
issued upon this plan are classed to-
gether, and the dividends as they are
declared each year, are credited to
these policies as a class. The company
retain these annual accumulations with
compound interest for ten years, at the
end of which period the aggregate
amount is divided among the then ex-
isting members, who may again enter
la new class for a second decennial
period. In case of the death of mem
Der, his heirs receive the amount of his
Insurance, but his dividends are cred
tied to the remaining members of the
class. The failure on the part of a
member to meet his annual premium,
forfosfz - oIas 10 4. Il.
which, together with the surrender
value of his policy is added to the eX-
isting fund, thereby increasing the in
diyidual share of the residual profits;
the aggregate amount is divided ljrol
rcst1 among the remaining members ac-
eording to the terms of policy and
actual premiums paid. AS for ex-l
ample:
a man insuring at the age Of 35, pay-l
ing an annual premium of S26S 90 for
$4,000 of Insurance. In such a easel
the party Insured pays during each year
for ten successive years the amount of
1858 90, which amount had it been im-
proved at per cent. Interest would |
amount t2. 81, ,191 So. But should the
party die at this time he would reseive
SIC, eco, or 81, sos a more than s per
cent. compound interest on his invest
ment. Therefore, it will be readily
conceded by all, that as an investment
up to this period the dividends are of
very little account, should death occur.
Assuming that our past favorable mor-1
tality experience will be realized, and1i
the expected number of lapses occur,
by the Tontine system of dividends It'll
is estimated and calculated from ex-
tended data, and endorsed by the ablest
actuaries Of this country, that the re-
allied dividend at this time will
amount to 81, 1893 43. Which amount
will be paid to the policy holder in
cash, or may be used by him to pur-1
chase new and paid up Insurance, or I'M
the purchase of a life annuity.
Should the party insured take the
cash dividend of 81 1893 43 and place the !
sum at interest at 10 per cent, he will
realize a yearly income of
$199 81. Or should he desire to pur- {
chase paid up Insurance, the amount of
81 1893 81 will purchase 5000, which
added to the original amount of Insur.
ance makes $4,000 for total payment
of 81, $50 90. But if cash be taken as
the dividend, the original Insurance
would cost the sum of $3.50 90 paid by
the irsured during the ten years, less
an amount of 81 1893 43, returned, max
ing the cost of the insurance for 10 {
years, only 1886 81. Should the divi
dend be used to purchase life annuity,
il will purchase yearly income of
$3.50 90. This amount is payable until
the death of the insured. Therefore it
will readily be seen by the foregoing
example that while the ordinary sys-
tenn of Life Insurance affords to man
the means to secure provision for bis
family, the Tontine Saving Fond 1n-
surance enables him to provide a seffi-f
cient sum for his own support, and at
a period of life when it will be most
needed, rendering him independent of
the charity of others. il
In this manner then, have they en-
to promote their universal
among the people, and they
feel free to say that they think by this
system, they are offering Inducements |
far beyond anything ever offered to the e
public in the way of Life Insurance, =
and they think it viii prove worthy of
your especial attention and obserya-I y
ton. Hence they would add, before
lnsuring elsewhere, investigate this '
system thoroughly, and any other m
you may desire on the SUBJ v
ect, can be obtained by applyingto :
ISRAEL LEWIS, Agent for Belmont =
County. Residence ST. CLAIRsvILLE,
Z OHIO. i
SPECIAL NOTICE.