National Republican., 1886-10-09
AN EQUITABLE SYSTEM.
That Adopted by the Citizens Mutual
Life Insurance Association-A New
Departure in Lifo Insurance.

nOuCes concerning tne CltlZen'S MUTUAL
Life Insurance Association Of New York by
the press OF New York city:
From the Commercial World. N. VI
Many efforts have been made within the
past few years to relieve life insurance of
the burdens imposed upon II by the cumber-
some methods OF the old line Irregular"
life insurance companies, and 1t has become
evident that the relief sought for Is TO be
found only in the system OF mutual assess
meDt, but the first crude efforts In this d.
rection were only partially successful. The
principle upon which they are based, how
ever, indisputably correct, and has been
brought to the highest state of perfection
by the Citizens Mutual Life Association OF
this city, which is organized under the laws
Of the state of New York for the purpose
Of furnishing life and accident insurance at
the lowest possible rates consistent with
the most unquestionable security. Their
system presents many advantages which
will secure the attention of thoughtful in
surers, and the prominent standing Of the
gentlemen who have the direction Of the
enterprise is sufficient guarantee OF the
responsibility Of the institution.
The "equity system"ss the result of
prolonged and careful comparison Of the
relative advantages Of different forms OF
life insurance hitherto existing, and a re.
tention Of their best features while elimi-
mating all the Objectionable characteristics.
1t secures insurance at the lowest possible
cost. and at the same time afford the most
undoubted security. 1t reduces expenses
to minimum, and thoroughly eXempliiles
the true principle Of cooperation. Immense
''reserve" accumulatlons In the disposal of
which the insured have no voice, are en-
tirely done away with, and every policy
holder is an active and potential member
Of an association formed for mutual bene-
IT.. All surplus that may accrue is regu-
larly distributed among the assured, thus
combining profit with absolute protection.
The company's policies in the accident
department present greater advantages
than can be secured under any other form
OF insurance.
From the New York Daily News
The president, Mr.. l.. NJ. Bates, is one Of
New York's favorite citizens, justly distin-
guished for his pre-eminent business quail
ties as the head OF the immensely successful
dry goods firm, Bates, Reed IL Cooley, for
his active and substantial participation In
all important movements In the city's In
terests; for his liberal and wise patronage Of
the arts, and for his high social qualities,
| Like the true New Yorker Of brains he re-
tires from one success only to develop an
other. 1t would be difficult to find q man
better suited as general manager and chief
executive officer of the association than It's
| first vice president, Mr.. III. /. Kimball, who
comes from Atlanta to locate in New York
that he may devote his entire resources to
| the association. In the south Mr.. Kimbal
needs no Introduction. His great services,
more than that Of any other score of men,
says the Atlanta Constitution, in not only
restoring Atlanta--uemolished by war-but
making IL the most solidly built and pros
porous city OF the south, and his successful
| cooperation in commercial and industrial
movements of greatest value to Georgia,
and the entire south has established his
| reputation there as most envlable. lie
comes to the association in the prime of
life, with all his characteristic push and
| proved executive ability.
| From the Investorl
The plan adopted and pursued by the
| Citizens Mutual Life Insurance Association
is a wise and economical one, as well us be-
ing thoroughly consistent with the prlncl-
| Piles Of lite insurance. 1t avoids the eX-
travagance Of the old companies and gives
| its policy holders greater advantages by re-
| ducing the cost of insurance to very low
| figure. The company starts out under the
most favorable auspices. Its board of dl-
rectors embraces the names Of several we'll
| known business men, Its president Mr..
Levi NJ. Bates, holding a most prominent
place in the mercantile community as man
of sterling integrity and good business push
| and sagacity, while It's general manager, Mr..
| ii. |. Kimball, and its secretary and treas
and capable gentlemen, who are in every
way qualified to satisfactorily discharge the
duties Of their positions.
[From the Jewish Messenger
When the assessment plan OF life insur-
| ance first attacked the preserves of the
sold line" companies, II was mercil essly
decried; but, gaining wisdom by experience,
the assessment idea has developed rapidly
in the past decade. Now comes the Citi-
| ,,al 81
Broadway, and claims, in short, clear
terms, backed with seemingly unassailable
statistics, that its "eQuity system" meets
all the important objections OF the assess.
ment plan, and thus perfects the most pop
ular life insurance system.
| From the Fiuancier,l
This newly organized life insurance asso-
citation has, we believe, brilliant future
before 1t, and when the equity system 1t
offers to its pollcy-holders becomes fully
| known there is no doubt but that the Citi-
zens' Mutual Life will become one OF the
most popular institutions In this country.
| We have carefully examined the equity sys-
| TEN as offered by the Citizens Mutual Life
| Association. 1t combines not only equity,
but common sense, and meets fully all the
requirements OF safe and popular life insur-
ance. We notice that the death and reserve
| funds are Kept up by regular payments from
the insured, equaling the combined eXpe-
rience table OF mortality, payable yearly.
| half-yearly, or bi.monthly. No person
should cavil at renewing an insurance on
his life at these periods. Rents aud fire In
surance are payable In the same manner.
The equity system is definite, and that Is no
small consideration. Regular payments
| from the insured will maintain the death
| and reserve funds The security offered is
| unquestionable. The death fund with ac-
cretions thereon over the amount necessary
to pay current death claims is deposited TO
the credit of the association with the Farm
ers' Loan and Trust Company, or invested
in United States bonds and lodged with the
states departments Of insurance. Both
new and persIsting members make an equal
number OF mortuary payments for equal
terms OF insurance. New members do not
carry any burden of mortality that has In
creased with the associatlon's age. This is
equitable In every way.
The equity system Is inexpensive and
profitable, as 1t insures saving of one
half In cash outlay to the insured compared
with the old system, and provides that all
surplus shall be appOrtioned to the close OF
every policy decennial period among the
dividing members. The expense account
is limited. All expenses In conducting the
| surviving business and remuneration to
| agents must be paid from the amounts
received as admission fees and moderate
allowance on the collection Of annual dues
The association will issue accident GER
| tiilcates to members only on very favorable
terms. The association have organized an
assessment department In order to meet
the views Of those who advocate the post
mortem assessment plan, so that the Clti-