The Portland daily press., 1872-04-09
MERCHANTS
Life Insurance Co.

have prepared, and now offer to
the public, a new method of insllr-
ance, which limits the amount Of
the payments to a small and GER
tain sum, and provides a hand
some annuity for the relief and
[ support Of old age, combining, at
"A low rate of premium, the bene-
fits of the Savings Bank and
the high-priced Endowment and
Whole Life policies. 1922 Hrt
The plan is simple, easily UNDER
stood, and the advantages it offers
appear at once. Fifteen annual
payments are .required on this
plan to purchase a paid-up life
policy. Each yearly payment is
less than the preceding one, the de-
crease being at the rate of four per
cent. compound interest. As an
example,: at the age Of IS the
first payment ON a policy for
$4,000 would be 1878; the second,
$35S 10; the third, S343 20; the
fourth, S32S 80; the fifth, $3l3 10
the sixth, $29S 40; each subsequent
payment decreasing i'm the same
ratio until the fifteenth year, when
the last payment would be but
$164 10, a sum much below the Or
binary wIlOle-Iife rates. The total
Of the payments made amount to
$4,O2S 80, and at the end of the fiji.
teenth year the insured would re-
ceive a paid-np policy for SIC, 700.
O4 the ordinary plan, to secure a
paid-up policy for $4,000 by fif-
teen annual payments, a person
25 years of age would pay to the
Company i'm the aggregate $4,S5I-
a saving at once i'm favor Of the
new method Of $500 10.
The new plan has, however, 9TH
er and greater advantages. At the
close of the sixteenth policy year,
and every year thereafter during
life, the Company will pay to the
pOlicy-hOlder such an annuity ms
the entire surplus accumulated at
compound interest will warrant.
Conservative estimates in regard
to future rates Of interest, mOrtali-
ty, Iapses, and expenses, show that
this annuity will average about
five per cent. ON the aggregate
amount Of the fifteen premiums
paid by the insured to the Com
pany.
Thus in the case above mention
ed, estimating the annuity at five
per cent only, a person Is years OF
age, having i'm fifteen years paid to
the Company the sum Of 81 ,O23 90,
would receive at the end of the six
teentll year, and at the end of every
year thereafter during life, a sum
i'm cash amounting to $2Ol As. The
pOlicy-hOlder's right to this annu-
ity the Company will purchase at
any time after the full fifteen pay
ments have been made.
Should the insured through mis-.
fortune be compelled to stop pay.
ment before the fifteenth year, a
paid-up policy will be given, after
'hfee annual payments have been
made, for as many filteenths of the
sum insured as yearly payments
have been made, an arrangement
perfectly equitable and just. On
such paid-up policies, however.
the annuity payment commences
at the end of the sixteenth wear
after the first payment made to the
Company, and will be based upon
the amount paid for such policies.
The above is believed to be the most favorable
plan to the insured Introduction in the event
of death within the fteenyear PERIOD the percent
age of profit must be entirely satisfactory, while in
case of long life, the annuity will soon repay every
dollar of premiums paid by the insured to the Com
pany' and prove in every way equal to an invest
ment In Savings Bank for the protection and sup
port OF old age while the amount of the policy paid
at death may relieve destitute family, or add to
comforts already possessed
Inc Company is also prepared to issue policies
| upon