The sun. [volume] (Morris, Stevens County, Minn.) 1882-1895, 1889-12-12
SOMETHING NEW
And of Much Interest to
Farmers.

or desiring to renew maturing mort.
cages, the best plans ever offered to
the farmers of Minnesota. Our plans |
are these:
PLAN No. l.
BY this plan the farmer insures his
life. pays one years premium In ad-
vance, Cor the first premium may be
deducted from the amount borrOwed)
the remaining premiums are paid in
nine annual payments. He also pays
interest once year on the amount OF
money borrowed at the rate of per
cent. per annum. BY this plan at the
end OF ten years his mortgage will be
satisfied. without any further pay.
ments, and in the event of his death,
any time before ten years (even
should he die the day after executing
papers) his mortgage will be satisfied.
His insurance policy pays off the
mortgage, thereby his family have a
home. If the policy should be
greater amount than that of the loan,
the difference will be paid to his fam.
lily. The notes given for the pre-
MUM for insurance and the Interest
of the loan contains a condition in
substance as above. No note is re-
CURED for the principal of the loan.
We give few figures illustrating the
superior advantages Of this plan over
all others. The following figures are
made on a basis 81 900 loan for 10
years, and 81 200 insurance for man
of 35 years old, the insurance policy
being straight 10 years policy.
THE OLD WAY.
Interest on 81 900 at per cent. for
10 years. 5000. The principal being
due to be paid, 81 900. The original
expense, agents commission, record
ing, abstracting ETC., say $40. Total
paid in 10 years, 81 ,940. There being
1910 paid tor interest, expenses etc.
If the borrower should die before the
loan is paid off, the chances are 10 to
l that his family will lose their
home. Now compare the above fig
ures with OUR NEW PLAN, the Dor
rover being IS years old takes out a
$1,000, 10 years endowment policy.
The annual premium is $50. G4 year,
wonld amount to $500. 40. The inter.
est on his loan at I per cent. would be
$40 Il year, in 10 years would be 500.
The expense of making the loan.
agents commissions etc., would not
exceed 80. The total cost to pay
off mortgage, $1,62O.4O. This illus
tration shows net saving to the Dor
rover of $4,000. Quite an item
Besides this, if the borrower should
die before the maturity of the loan
his life being insured-his insurance
policy pays off the loan, thereby hi!
. family have no mortgage to pay. Thi!
is another advantage IN FAVOR OF
OUR NEW PLAN that farmers SHOULD
look into. BY this plan the borrow
has LIST, the advantage of low rat
of interest; End, the privilege of pay
ing off his loan in small annual in
stallments; Bird, he has to pay his in
terest only once a year; 4th insuranc
on his life so that in case of his dealt
his family is relieved of tn
:. burdens of the mortgage on thei
> homes. The home is paid for. Al
for a lower rate of interest and on bet
ter terms than has been ever befor
offered.
: PLAN NO. 2.
This plan is also new one to tn
=, farmers of Minnesota. It has the lif
> insurance features of plan No. l, bu
on an entirely different plan. Lik
plan No. l, in the event of the deaf
- of the borrower, the family has n
- mortgage to pay. BY this plan th
~ loan may run from one to FIVE year.
. or 10 years if desired. Or the Dor
- rover may pay off the loan on install
~ ments as he may desire, or be in
:. position to make payment on tn
principal. The rate Of interest is
= per cent. and is payable only once
year. We give the following figure
to illustrate the plan and show it's az
vantages, using as a basis a $1,0C
- loan and 1000 life insurance for
~ man IS years of age, the endowmer
-, 40 life rate plan. The premium on tn
80 insurance policy for five years
10 $113.75; amount of loan, 81 900; MOI
cages would be given for $1,1l3.7
If interest at 7 per cent. on $1l13.75
K, $77.96 per year, for years, amoun
in to $685. 80. To this add expenses etc
le for making the loan, $50; total amour
,e to pay, 81 1885. At the end of
.e years the borrower may surrend'
o. his policy and receive pail up polio
= for 1928; leaving the actualcost of Il
loan at ST. ,307.55. Or he may continl
his insurance in force for the fu
amount upon the payment of $26
90 per year.
~ Under the old plans now in vogue
~ 81 900, 8 years loan would cost ii
~ borrower, provided he paid off h
- loan when dne, about 81 400, and
" would not have the protection of Il
>. insurance. 10 the event of death,
~ would receive no return as he will
" our plan No. 2. The rates of insu
ance will always depend on the age
the insured.
We are the exclusive agents of Il
~ company introducing these plans, f
ID the counties of Stevens, Pope, B
u Stone and Traverse. --
~ We can also lean money on sever
oo other plans, at low rates of interes