The critic., 1891-02-02
NATIONAL LIFE MATURITY
INSURANCE COMPANY,
A washington Institution Managed by
washington Men.
The Largest Life Insurance Company
South Of Philadelphia.
More Than Three-quarters Of Million
Paid Out in Washington Alone.

tnc HCtlNe UuSllleSS years Oh llle, Ut Wulie
he has growing family dependent upon
him, feels that IL can be secured only at
disadvantage because of the fact that when
he has paid the premiums during this
term, if he wishes to discontinue the in
surance, it can only be done by the sacri-
flee on his part of the money paid by him
which has not actually been necessary In
carrying the risk. The policy issued by
the National Life Maturity Insurance
Company of tins city obviates this diff
Guilty in that IL provides that IL the insured
lives to the age which usually marks the
end of active business life he can surrcn-
der his policy and withdraw all the cash
accumulated to its credit, including not
alone what he has directly paid, but as
well the accretons thereon through in
terest and other sources of profit. Thus
father can insure his life and carry the in
surance during the period when his death
would check the education of his children,
and If he outlives this period not only be
relieved from the burden of further
premium payments, but also have the
cash accumulations for the support of his
old age. In the same way any one who
has another dependent upon him for sup
port can make provision through in
surance for the continuation of that sup
rort in event of his own death, and ut the
same time make provision for his own old
age, If he lives to attain 1t, or in event of
loss of fortune or ill-health, can draw the
amount for his own support. 1t is esti-
mated that in the case of the policies is
sued by the "National," the cash sur
render value which they will have upon
the policy.holder reaching the age of sur
render will be from so to 60 per cent. of
the face value, so that person carrying a
N..tA
that amount will be paid in event of his
death. may look forward confidently, If
he outlives the necessity for such pro-
lection, to a cash endowment of from
$500 to $1,000.
In addition to the above provisions,
every policy issued by the National Life
Maturity is by its terms incontestable
after the expiration of three years from
the date of its issuance After that date
10 question as to the payment of the full
face Of the policy can arise, If the pay
ments are made regularly by the insured,
unless there is error in the statement he
made as to age. Such an error, however,
does not vitiate the insurance, as the
policy contains plain contract that If
the age is understated the amount to be
paid will be the amount which the pre-
MUM actually paid would have pur-
chased at the actual age of the policy
holder This removes every possibility of
dispute, and relieves the policy-holder
from any apprehension of contest or
law suit for his beneficiaries, an appre-
hension which is a real cause of distrust
to many would-be insurer, although in
point of fact it is almost or quite an un-
known thing for reputable company to
dispute just claim.
As showing that the policies of this
company embrace every protection that
can be accorded to policy-holders, there
may be cited the fact that after three
years, in addition to the incontestable
feature, the policies are non-forfeitable by
reason Of lapse until the accumulations to
continuing. it in force at its face value. If
the policy-holder, desiring to discontinue
his insurance, prefers cash surrender
value or paid-up insurance to the policy
being continued in force, these he can se-
cure at his own option the terms of the
contract plainly setting forth his right
thereto, or, IN the case of the policy
ment, is unable to pay his premium, pro-
vision is made that he may borrow
against his reserve at @ per cent. interest
for the purpose of continuing his in
surance in force, thus protecting against
lapse many policies that but for
this provision would be lost to
the the o;O holders io !aa Another e feature IT, Of
tiiC IoiiNy 10 thC DloNlsloll tIttl III CstSc VI
total permanent disability the holder may
surrender his policy and draw one-half Of
its face in cash. BY this provision the
policy-holder may secure money for the
support Of himself and family at time
when every dollar counts twofold with
him, and when, but for this provision, he
would be compelled perhaps to lose the
insurance contract complete, and every
applicant for a policy in any company
should insist that 1t be included in the
terms of his contract.
In addition to the life insurance busi-
ness proper, the charter of the National
Life" gives 1t authority to issue certif-
Gates for investment purposes for specified
amounts, to be paid from fund to be ac-
cumulated for that purpose when the pay
equitable share Of the profits mulated
in such fund, shall equal such amounts.
with power to loan the said fund on real
estate or other securities to the holders of
such securities or otherwise, in accord
ance with regulations fixed by the COM
pany. and the application and certificates.
| BY virtue of tins provision it has an invest
7. ment department. wholly distinct from its
| life business, which combines the advan-
tages of a savings bank with those of the
ordinary building and loan associations,
and at the same time gives some features
| peculiar to the company itself. These
certIlcates, which are IN no sense lie
insurance poncies, put are, as mas been
snd, heiu entirely aistlnct from the liiel IN
snranSe business OF the company, are de-
signed 10 furnish a sate ana prohtable
method Tor investing small sums OF
money on eonditiohs SUCH as combine the
the profit arising from combination of
IN mulviduals under inc tontine principle
Inc contracts are plain IN their provisions,
nhu the moneys received thereunder are
loaned py nuthority OF the nome BOARD,
unuer the adviee OF local adyisory boards
eslaDisheu at d,Hereht points where tnis
prancn OF the business oI the company
is carried on, lhese certincates are not
10 De contounded win endowment insur-
| ance, DelnB oil an entirely different nature