Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1892-03-17
Concerning a Well Known Life In.
surance Company,


The syowed policy Of the Mutual Benefit
has been and is fair and generous dealing
with policy-holders; the adoption of meth
ods whereby each person insuring receives
the equivalent of every dollar paid and the
maintenance of exact equity between all
classes Of policyholders. VI.
Ihere IS a great divergence of opinion
among life insurance companies "a to what
constitutes equity between policyholders.
and upon this point, and those relating
thereto, the practices of The various COM
panies perhaps differ more widely than in
any other particular.
The Mutual Benefits definition of the
term Is that no matter whether a policy
holder dies early or late, whether he con-
tinues to pay his premiums or discontinues
paying them. there should be no discrimina-
ton against him in favor of any other poll
cyholder. The Mutual Benefit has perraps
recognized more freely than any other
company (and il should be borne in min !
that this recognition has been purely volun.
tary and without legal compulsion) that the
lapslng policyholder has rights which the
other policyholders are bound to respect
ms admission has given rise to the mon
forfeiture system" praoticed by the com
pany In connection with every policy issued.
The evident intention of the company to
adapt Its benefits, in so far as possible, to
every need and every condition is also mani
tested by the definite agreement contained
In Its contracts to loan tc a poicyholder a
certain portion of the unavoidable invest
ment fund under his policy. This ia fire.
quently privilege of inestimable impor-
tance to the insured, enabling him TO tide
over periods of financial depression which
come IN the life of every man excepting the
rich few.
Very few companies issue 80 great va
rlety OF contracts as does the Mutual Bene-
ht' Its policies are adapted to every need
OF the people, real or fancied. Among them
may be mentioned life policies, either
with continuous payments or paid up in 8,
~, 10 or 20 payments; endowments payable
in 80, 30, 25, 20, Is or 10 years, or at prior
death, upon which the premiums may be
continuous or limited to 10 years, also tnodi-
ned endowments under which a man is in
sured for 81 600 for 10, 15 or 20 years and at
the end OF the term receives $500, $400 or
5000 according to the period selected.
In case of failure to pay the third or any
subsequent premium, no cash surrender
value being demanded, the company's pol
icy is even more liberal, for the policy does
not become forfeited, but every dollar the
company holds to its credit is used to ex-
tend the sum insured so long as it will sus-
tain it. This procedure is taken without
action on the part of the insured, or, if 40
requested by the owner of the policy within
three months from the non-payment of
premium, the company will issue paid up
policy for the full smount that the sum to
the credit of the original policy will pur-
chase.
The various contracts of the@Mutual Bene-
tit also contain many other collateral ad-
vantqges too numerous to be decribed in
one article. Every feature and provision,
however, evidences the fairness and liber-
ality of the company, whose motto might
we'll be, "the greatest good to the greatest
number" The Mutual Benefit probably
approaches the ideal life insurance COM
pany as nearly as any in the world. In
competition 1t is well nigh invulnerable. To
illustrate the position of the Mutual Benefit
in the field: The writer recently inquired
of bright young sub-agent of one of the
smaller companies "What tactics do you
adopt when you meet the Equitable in COM
petition ?" "Oh, l just do like all the rest,
abuse it on general principles" "The New
York Life ?" Don't have to say anything
now; the papers do it for me-" "The Mu-
tusl Life ?" "Oh, their agents are so slow
can get away with them easy enough"
THE Northwestern ?" "Delusive tontine
estimates and no surrender values" "The
Mutual Benefit ?' "Try to make the man
I'm after my bosom friend that's my only
chance. e."-The Economist.