Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1891-06-04
The Mutual Benefit Life insurance
COMPANY.

The forty-sixth annual statement,
with report OF President Dodd to the
board OF Directors of the Mutual Bene-
NJ Life Insurance Company, Of New
ark, N. J., h before us.
IL Is very refreshing 10 find in life in
surance literature such an interesting
presentation Of the principles under
lylnga pure life insurance company,
together with the honorable methods
essential TO the growth and prosperity
OF such company, as is found in this
report.
Mr.. Dodd succeeded to the Presidency
Of the company in 1882, and its growth
from that date until the present has
! been uniform and substantial.
In 1882 II had 46, ,652 policies in force
AT the close oflS90 it had 65,154 poll
cies In force. The amount insured had
increased from Sl27, All ,677 to Sl72, ,s4O,-
944. The assets have grown from S34.-
072, ,099 % to SAC, ,654, ,S92 81.
The increase, therefore, has been 40
per cent. in number of policies, 81 Der
cent, in assets and 80 per cent. in
amount insured.
The most remarkable showing of the
business of the Mutual Benefit is found
In its economy Of management as conn
pared with the business transacted This
Co., can safely challenge every other
company in the land in this regard; and
as result, President Dodd Announces
in this report that from the surplus on
hand, distribution will be made TO ali
participating policies as their premiums
Iail aue curing 1881, In proportion to
what each policy has YIELDED TO the gem
eral found.
ITO an ordinary life policy, issued in
1880, will be given about % per cent. of
its premium, while to similar policy,
Issued In 1915, will be given about 81
per cent.
1t is/ claimed for the Mutual BENEFIT
that these dividends surpass as an aver
age the dividends paid by any other
company in the United States. Presi-
dent Dodd says: The steady growth of
TINS company has been an un-
forced and healthy one, quite equal
10 our aims or wishes. New business is
Dy no means important for solvency or
ABUNDANT strength. Indeed, cessation
OF new issues might be turned to
steadlly increasing ability to meet the
company's obligations, but new issues
are essential to continued corporate
existence. For this purpose, accessions
yearly to our membership are requisite;
but they could be much fewer than thew
are and still maintain vigorous per-
petuity without detriment to the inter-
ests of the policy-holders. This is
beyond dispute. We owe our present
increased business to the merits of our
policy contracts, to the favorable terms
on which they can be procured at first,
to the facilities the company affords for
keeping them in force and to the fair
terms on which they can besurrendered
or payments ofpremiums discontinued.
They have been most approved where
they have been most closely examined.
The equitable terms allowed for sur
render tend to their persistency. The
non-forfeiture provisions embodied in
them have the same effect. When
these provisions were adopted in 1879,
after prolonged reflection, it was per-
haps open to question whether the sys-
tenn would work well, but there is no
question now. The experience of each
year proves its expediency for the MEM
bers and the company.-7he Insurance
Aqe.