St. Paul daily globe., 1890-12-03
A STRONG ENDORSEMENT
[From the FEinancier of New
York

We have much pleasure in drawing
the attention of all our banking and
other friends to the admirable system
of life insurance as put forward by the
Bankers Life Association of Minnesota.
We have carefully examined its af-
fairs, ana have no hesitation in recon-
mending the association to the practical
support of the banking community
throughout the country.
We have always had good word for
conservatiyely managed assessment
companies, with ample reserve funds.
and the association under notice is GER
tainiy entitled Oh its own merits to be
claSsed as such.
1t was organized in 1880, and since
that date prudence and prosperity have
marked its progress, and It's system has
long ceased TO be an experiment. From
the outset il took Il strong hold upon
public favor, and its present financial
strength, coupled with its established
record of success. would lead one not
acquainted with its date of organization
tn suppose that it had transacted busI-
ness for much longer period than the
date already given.
In our opinion one of the chief feat
ures of the association under notice is.
that it provides reliable insurance at
the lowest possible costto eligible mem
btrS, at the same time combining the
strength of the old-line premiums with
the Severest economy of the assessment
plans: perhaps, what is more important
still, its Guaranty Reserve Fund
places the company in the envia-
bic position of being able to guarantee
the whole amount of insurance, Whether
tbp mo inhprS nav fhnir oSsucc,nnnt mr.
not. In other words, the Reserve Fund
creates absolute Securityto any member
who makes his own payments promptly.
and the payment of his policy at de-
cease is not contingent upon the whini
of others, as is often the case in weak
kneed assessment companies. This
cardinal point certainly obliterates one
of the chief objections often brought
forward against the natural premium
system.
Another strong point in favor of the
Bankers Life should be mentioned. Its
Reserve Fund is built upon the most
equitable principles. 1t is formed by
the mutual payment of the members ac-
cording to aye; each policy holder CON
trIbuting, on each $4,000 certificate,
as many dollars as he is years old
at the date of entrance. The payment
l. Ss
without interest. Up to the present
time more than 500, ,0O0.00 has been mu.
tually contributed and pledged by over
CISCO members. 1t is a significant fact
that the majority of the policy holders
of this association are cool-headed buSi-
ness men, conservative by professional
ties. and who would be about the last
class of people to contribute to such a
fund if they had not the most implicit
confidence in the sOlidity of the asso-
citation and the honesty of the executive
management.
This reserve fund is made as safe for
! the benefit of members as human fore
thought can devise. 1t can be only used
for one specific purpose, viz, to secure
payment of assessments occasioned 10y
| the death of members, and we notice
with pleasure that this article cannot in
| any way be altered by the trustees or
officers. To be changed or amended,
the written consent OF every member OF
the association must be given and signed
| by him.
No matter how large the amount held
10y any company rs Reserve" the name
| Is misappIied ii the fund is not invested
in the choicest class of securities, free
| from all stOck-jobbing fluctuatiOn, and
| convertible into cash at The shortest no
| tlce, and without loss. The guaranty
| reserve fund Of the Bankers Life is i'll.