The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1894-12-22
THE BEST HOLIDAY PRESENT.
What Do You Think Of Policy In a
Stable Life Insurance Company

that referring to the choice OF gifts
for wife and children. With an
ample purse it is not difficult to
obtain articles that will make glad
the hearts of the recipients, wheth-
er the gifts are just what they had
desired or not. And even people
of moderate and slender means can
find in the well stocked stores
something to suit their pockets,
which will bring joy into their
households.
But to anyone who realizes the
transient nature of human joys,
the question at the head of this ar
ticle should come home with force.
What more valuable gift can man
confer on his wife and family than
security for their sustenance and
comfort in case of his removal
from the land Of the livingp
A writer in late number of the
Weekly Statement, issued by the
Mutual Life Insurance Company
of New York, says: Life insurance
is like the walls of a great city, it
protects on every hand. A bust
ness man may have stocks and
bonds and real estate; his death
may make it imperative that these
he realized on: but the bears may,
for the moment, rule on Change.
and the real estate markets he ut
the lowest point. When the neces-
sary settlement sale is made, and
the estate stands to be n serious
loser, Mutual Life Policy will
protect the bonds and real estate
and secure the heirs i'm the con-
timed benefit of those sources of
revenue. A policy of life insur-
ance, with the ready cash it pro-
vides, has often saved large estates
from sacrifice and ruin by avoiding
the immediate necessity for selling
real or personal assets on a falling
market" These remarks are en-
inently true, rs proved by many
instances right here in Honolulu.
Richard A. McCur,ly, president
Of the Mutual Life Insurance Com
pany, has written a brochure en-
titled, Modern Insurance and Its
Possibilities. which should be- read
by all who are considering the adj
visibility of insuring their lives.
He gives the keynote of his theme
in the opening sentence, viz: The
possibilities Of insurance are deter
mined like those Of any other bu-
siness, by asccrtaining how far il
can bc made TO pay." AS to forms
Of insurance which had better be
left alone, the following remarks
are appropriate, and, II must he
said. just. M observing and reading
people will he ready Ia acknowl-
edge from many snd examples:
"Any form of insurance, whether
il he purely mutual, proprietary or
fratcrnal, IL not conducted on n
paying basis must necessarily fail.
The purely mutual company will
drop asunder; stockholders in n
proprietary company will wind up
the concern, or il will go into the
hands Of n receiver by process Of
law; enthusiasts, who sustain
Clergy Mutual Leagues, and En-
ployer's Benefit Associations. will
grow weary in well-,loing and try
to reinsure their risks or leave
them to their fate. Assessment
societies come to grief when the
assessments are levied too often,
and the shores of the ocean OF in
demnity are strewn with innumer-
able wrecks Of craft, Enthusiastically
named and equipped, which have
met the common fate OF all non
paying enterprises in commercial
age"
Mr.. McCurly goes on to show
that, technically, there is no money
made by insurance, and that com
panies or associations which carry
ON the business are only the dis
tributors OF loss. A voluntary
loss, submitted to Mt once by the
insured, removes the danger of a
far greater loss which may other
wise happen at any time. But AZ
the prime purpose of the aggregate
premiums is to pay losses, so the
single premium paid in each case
by the insured is primarily IA loss
to the insured. While life insur-
ance, however, is but n distribution
of loss, the machinery of distribu-
ton must be SO constructed rs to
impose the minimum of self-sacri-
flee upon the insured, and to secure
for his money the maximum of
productiveness. These results
must he attained under conditions
of the business established by long
and wide experience. Experience
is used in its technical sense, mean
ing applied statistics. Productive
ness, for present purposes, means
applied intelligence.
Life insurance is the only branch
in which the two essential condi-
tons of the best paying insurance
are united, viz, II perfect scientific
basis in the laws of mortality and
length of time in contracts to per-