Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1884-11-20
LIFE INSURANCE.
Remarka' le and Interesting Facts
Concerning IL.

American life insurance, by policy
holders who have died, over 50 has
been returned in cash to their fami-
lies.
The money least liable of all to take
TO itself wings is that invested in life
insurance. The records of the com
panies are full of instances in which
men at one time very rich have,
through misfortune, lostail save their
life insurance, and dying left only
that money to their families. On the
walls of chamber in which Mr.. Peter
Page, once a millionaire or Chicago,
died, were penciled these words by
himself: Ny life insurance policy
of $25, 900 is everything | leave.
Many an involved estate has been
saved after the death of its owner by
the aid of the ready money obtained
from his life insurance policy. A man
of formerly large resources in Chicago
found in his later years that all his
possessions were hung in the balance
of a prolonged lawsuit. Worn out
at last with the seemingly hopeless
contest, he gave it up, sickened and
died. But his widow, by prompt use
of the life insurance money, revived
the legal fight and recently obtained a
judgment for 500, 600. Her husband
may be remembered as the owner Of
the only residence which, standing in
the burnt district" Of the great Chi
cago fire, alone escaped destruction.
During the past two years there
have been more failures in the bust
ness world than at any time since
1879. Not a single commercial or
financial interest, except life insu-
rance has escaped. The present year
alone there have been over 100 banks
failures, IA of them being national
banks. But not one life insurance
company has suspended, and nearly
all of them have increased their bust
ness greatly.
The volume of business transacted
by life insurance is all the more re
naarkable when the absence of fric-
ton and the freedom from ostentation
with which it is conducted are observ.
ed. The companies are paying IN
death claims, endowments and dlvi'
dends an average of nearly 81, 300, 600
every week. This huge disbursement
goes on simply and quietly, and is Of
tremendous importance and worth to
the social and business economy of
the Nation.
The losses of life insurance to its
patrons have been trivial. In the long
and dreary season of financial de
preston following the panic of 1873,
many companies failed. But they
were without exception those which
had been organized in the wild infa-
ton times during or following the
War of the Rebellion. Yet even in
Guiding these the whole amount lost
is considerably less than per cent. of
the total w.ich has been invested in
life insurance.
The rich men in every community,
practically without exception, have
large sums of insurance upon their
lives. Ask any one Of them at ran =
dom anywhere, and he will be found
to be insured for $40, 600 and upwards,
while those who have policies aggre-
eating from 500, 600 to $500, 600 are
not uncommon.
There is an average of little more
than $33 of life insurance fer every
man, woman and child in the United
States. This amount per capita is dis
Itrlbuted in a manner which, 10 some
extent, indicates the age, progress and
prosperity of the various states of the
union. Thus, the New England and
Middle states naturally lead. Massa-
chusetts has an average of over $74 of
life insurance for every inhabitant
Connecticut, S84.85; New York,
$67.75; New Jersey, SAB 65 Pennsyl-
vania, $51. 80; Illinois, $40 %; Ohio,
$38 so; Wisconsin, $26 IS. The South
ern states are sadly behind, South
Carolina having but 50 80 and Georgia
SO. II. Utah is lowest ia the list, with
81 rs.
The life insurance companies make
magnificent aggregate showing of
success in the administration and in
vestment of the funds they have
handled. The companies now doing
business had collected up to January
1, 1884, in premiums from the policy
holders, a grand total of 81, 300, 055,
O83. They had paid to policy-holders,
and held in trust for the latter, up to
the same time, 81, 440, 064, 1854 This
makes the grand profit of $40, 009, 301
earned by the companies for the
policy holders, a superb evidence of
the probity and ability of the officers.
This profit, it should be remembered,
is net, all taxes, expenses of manage
ment, etc, having already been paid.
Life insurance finances are upon as
ample basis as thoss of the United
States Treasury. The total assets of
the American life insurance compan-
les are now over $500, 600. 900, or more
than 500, 600 600 in excess of the
available assets in the Treasury. This
sum is also greater than the capital
stock of all the national banks, and
larger than the entire combined circu-
lation of the latter. The total annual
interest paid on the bonded debt by
the United States is less by 50, 600, 600
than the sum paid yearly to policy
holders and their heirs by the life
companies.
There are now few business men