Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-02-03

Making a total saving to our members by re-
duction OF premiums Of more than $50, 900, 900.
LAPsING.
The number and mode Of the termination OF
membership In the Mutual Reserve Fund Life
Association for the past twelve months harmo-
nizes with the experience OF the various old
system Reinsurance companies OF America.
showing that the law Of termination by death Is
scarcely more rigid or certain than the law OF
examinations from other causes There always
will be a certain percentage OF the insured who
will fail to continue their insurance through the
first year. There viii be another percentage 10
whom the object Of life insurance will no longer
exist, and another percentage who become
unable to make the payment OF their pre-
miums II they desired. This Is illustrated
by the fact that the od-system companies issued
In 1870 1850, I'll ESQ OF insurance, yet their In
crease In the volume OF business IN force at the
end Of the year was but s437, 92S,0o0. showing
a disapr elrance from their books OF an amount
equal TO more than half the insurance written
for the year, or nearly 100000 900, while
their death claims for the same period were but
fraction greater than 10 per cent OF their
examinations. and the business OF the manage
ment OF large life-insurance company Is
largely occupied in supplying freshly -examin ed
applicants to take the place Of those OF the older
members who shall have terminated
their membership for tho various other
causes than by death, but 1t should
be stated that such terminaticns are not
an unmixed evil, for as these older men,
beers pass off the books Of the Company the new
members freshly from the hands OF the medical
examiners take their places. and thus constant
change Is occurring, which no doubt explains the
fact that the mortality Of q life insurance COM
pany forty fifty years Of age is scarcely greater
than the mortality Of the same company In the
tenth or fifteenth year OF Its existence. For In
stance, the mortality Of the New YORK Life in the
seventh and tenth year OF its existence was 80
per cent. greater than was the mortality OF the
same company In the forty-eighth year Of its
existence.
OFFICIAL EXAMINATIONS.
Outside and beyond the six examinations
made By the auditors OF the association during
the past twelve months, the results thereof
having been furnished TO the members with
their bi-monthly mortusry calls, ! am pleased
at being able to report that early In the summer
OF 1891 Hoo. A L. Carey, Commissioners Of In
surance Of the State Of North Dakota, and Hon.
William q. Hayden, sctuary Of that department,
appeared at the ONCE Of the association and
notified the president Of their intention 10 pro-
coed with an of1ctal examination Of the Affairs
OF the Mutual Reserve Fund Life Association.
Being clothed with the authority Of law, the
books were at once placed at their disposal aud
the heads OF The various departments were made
subject to their orders After thorough investl-
CATION Of all the various DEF ailments Of the asso
citation. including the death claim, investment,
and medical departments, and upon the COM
pletion Of their work they handed TO the presi-
dent and officers Of the association Q report Of
the results OF their fndingA
Tho Commissioner report concludes 90 fol.
flows, and In these words are embodied the views
Of both oficers:
A. whole Wish 70 state that tho business Of
your association has been conducted upon strict
business principles, with extreme liDerAliEy and
promptness In paying every honest death claim,
and simply quote from the report OF nv actuary,
which report most heartily indorse, " that the
accounts Of tho association are 30 we'll arranged
and its systom Of checking from one department
70 anosher 90 thorough that any errors can b
easily detected"
I am 90 ven satisned With the honesty and
ability Of the MANAGEMENT and excellent imam
cini condition OF the association thAt shall be
pleased 70 recommend the Mutual Reserve fund
Life Association 20 tho ctsixens Of the State q
North Dakota Respectfully yours
Commisgionos q lnourancA