New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-14
TONT1NE INSURANCE AGAIN.
TO THE HOLDERS OF POLICIES UPON THE IoN-
TINE SYSTEM IN THE EQUITABLE LIFE AS
sURANCE SOCIETY OF THE UNITED STATES.


sURANCE SOCIETY OF THE UNITED STATES.
The President of Connecticut company has
recently by advertisements made violent attacks upon
tho Tontne system OF life assurance practised by
the principal companies Of tho United States.
The annual new business Of the Connecticut company
has run down from 900 900 in 1866 about 000.
600 year. and largo have been Its orfetures and
surrenders that Its amount at risk Is $33000000
less than 1t ten years ago. It's surplus is about
one-hird Gs much as 1t fifteen ts income
is about two and onehaf millions less than twas eleven
years ago.
These results have embittered this officer that he
makes an attack upon the Tontne system of life
ance which has been successful operation for
teen years, as pretext to inure the business and
reputation OF moro successful companies.
His partisan statements have been seized upon By
few members Of the Newyork Legislature and used
"a pretence to obtain committee to investigate this
system OF assurance.
The action Of the Connecticut President not the
work OF phlanthropist, but the sophistry OF a
disappointed manager directed against prosperous
competitors with the intent to injure. The action
OF the Legislature but the hasty step of large body
OF men, urged by few arrested by the body itself
almost as soon as taken AS attempt has been made
TO Defog tho public mind on a very simple subject,
word Of EXPLANATION will DO opportune.
WHAT Is ToNTINE AssURANCE-PLAIN STATEMENT
ON THE SUBJECT.
The Equitable issues two kinds OF TOntine
policies, Tontlne Savings Fund and semi-Tontine.
WHAT ARE ToNrINE SAVINGS FUND PoLICfEsf
They arc the in all respects ordinary policies
except that all premiums received and interest the
same, minus only death losses members dying In tho
meantime and tho average expense OF the company.
accumulated and divided exclusively among those
policy holders who survive and continue to pay their
premiums until the end OF tho Tontne period at which
time the surplus asceralned aud awarded This with
the reserve tho policy paid the assured either in
some form OF new cash, he may elect.
The plan Is very simple, DO easily understood and
carried out and there no mystery In 1t whatever and
the accounts kept distinctly that the relative
results on these policies easy OF demonstration.
WHAT ARE sEMI-ToNTGNE PoLGCIEsf
They are the the above except that they have
a surrender value after three years.
THE PUBLIC HAVE THEIR CHOICE OF NUMEROUS
KINDS OF ASSURANCE.
This Society offers 10 the public the forms Of
policy in general use, including Endowment, Ordinary
Life, TOntne, Seml-TOntne and others II Is matter
OF Indifference to the managers which Of these are
chosen The fact that tho varieties OF Tontiue policies
selected In greater proportion than others because
they popular with the public and this is probably the
very why the plan Is bitterly attacked by one
who had not originally tho foresight to adopt It, but
| co nmtted himself against it.
why GREAT PUBLIC GOOD Is ACCOMPLISHED BY
TONTINE POLICIES.
THE WIDOW AND ORPHAN PROTECTED.
| SothIng human Is absolutely free from evil The
object OF the life assurance manager should be pursue
that which will to the greatest extent correct
existing faults I'm the business and extend the ultimate
benefits OF lie 10 tho greatest number In
tcllgent un lerwrors will. think, agree with me that
one OF the greatest evils at present existing in life
the lack OF persistence on the part of the
policy in paying their premiums and the
resulting forfeiture policies Many wife who has
anticipated the receipt OF competency in case the
hearthstone should desolated by the death Of the
husband has herself beggared and her children
penness through the surrender OF the policy by the
husband often without the we's knowledge. ard per-
haps for some trang reason tho sale Of the policy being
tho readcst way OF raising money.
HOW DOES the ToNTINE SYSTEM CORRECT THE
Evil or sURRENDERi
The Tontlno System. introduced by tho Equitable
Lifo has in measure corrected the evil as Will DO
shown BY the following facts.
IT II SHOWN THAT TONrINE POLiCYHoLDERS ARE
MORE PERSISTENT ~ PAYING THEIR PRE-
NUNS THAN ANY OTHERS.
To show the tcnaclly OF TOntne policies. submit
the experience OF the Equitable Life Assurance Society
In regard 10 examinations OF policies TOntne and Nom
Tontine taken in 1879 Tho experience OF policies
issued every other year shows similar resuts but the
OF this year selected for illustration because at
the end OF ssi no Tontlne term had yet matured The
foundations previous to December 81 1877 omitted
In both cases because during the first two years no
policy. whether Tontne Non-Tontlne, has existed
long enough to acquire a surrender value Tho follow
ing figures therefore. fair illustration OF tho com
narrative persistence OF Tonne and NOnTOntlnc policy
holders during period when the latter entitled 20
surrender and deprived OF the large prospect
i've value offered to the former motive to continue
TOTAL ISSUES or 1875. Ordinary IontIHe