The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-02-23

eyes by am arrangement TO postpone ali
dividends for ten or twenty years-the
longer the time the higher the commas
sion to the agent and the rebate 70 the
applicant. Whoever dies leaves behind
him all the surplus his premiums have
earned above the proper cost or carrying
hts Insurance while he lived. and those
who lapse forfeit their surplus and also
all OF a large part OF the reserves accsi-
mai9atesd from their premiums. I'm the
hope that the torfeftures will be so many
as to nj up tho hole made by great ex-
penses and furnish great dividends to
those who live through the term and keep
up their posscaes. Tho immortality eni
cruelty OF setting men To speculate on
what ought to be absolutely sacred TO the
protection of their own and other mems
families is obvious. But the estimates
and Illustrations have tempted multi
tuin but only to disappointment
To ILLUSTRATES: One of the great pioneers
In this sort OF speculative life Insurance.
is settling this year, 1896. the dividend on
Touttne policies issued twenty years ago.
Its then estimate of that dividend on a
policy OF 5000 annual life premiums. age
40. was $9.55s: It is paying only 1874:
Just 1910 per cent. OF Its Estimate"
Scores OF millions OF dollars of reserves
and accumulated surplus on iapsed poll
cies that ought to have gone to give some
remnant OF protection 10 the families OF
those who aalysed or to enable them TO
keep I'D their policies, have been for
feited TO the Tontina pool; but the great
expenses incident to dotIHg a speculative
business all over the world fsave eaten
up the profits and left but that pstfrul
outcome.
Mark. now. how the dividend producang
power OF this speculation Is steadily wan
ang. Tho company referred to began Is
suing these twenty-ysear Tontines In 1871.
and therefore first paid a. twenty year
Tontzzse dividend IN 1891. On policies like
the ono just cited that dividend was es-
stnpatef Mt $3.50. Here are the dividends
paid: On poafcies issued In 1871 the Mvs-
dend IN 1891 waas 1876, or Sc o7 per cert.
of the estimate: ON gsosltcies issued IN 1872
the dividend paid I'm 1899 was sf,4is, or
4s.6 per cent. OF the estimate; on policies
issued In 1873 the DIVIDEND paid In 1893
was 81. 3G6. OF 45.e7 per cent. of tho esssa-
mate: on TscEic4ns issued I'm 1874 the ,svf-
dend paid In 1894 was tiios. oraz2ss PER
cent OF the estimate: on policies ISSUED IN
1875 the dsvi6enSf paid I'm 1896 Is 1874, or
1910 per cert OF tho estimate. perhars
tina Company itself furnishes the best
comment ON this history In dts preface to
Its book OF Estimates used by agents:
"Wh4se the resufts~ot the future must
necessarily depend on thu experience OF
the future. . figures hased on past
experiences furnish the best attaarsabs,.
data upon which % judge OF the manage
mert of the society and the value OF It's
Tonrine assurance
When these policies have resolved ssle<r
one Tontine dividend they fan back into
the annual dividend class. And the an
naaaa dividends are sight
As the Investment quality dies out
rs form Is artract.veIy varied 90 conceal
the want OF substance and to create the
illusion OF giving mitch for little. The
policies are ulade to have a a.speararsr,e
OF iEberasity az To conditions whsrh sy
false In part and for tbs rest part de-
strucrave OF honest na1tualsfy and OF pub
&c morality.
T1e legitimate business OF a life trsafr-
ancs company - the payment Of death
losses out Of tho premiums paid by rs
members. Aside from making IT'S con-
t-asrts absolutely Just and secure. the
great nSerzt IN administration Is TO take
al Htrfe money as rsosSihie from SIS men,
bers; 20 do the business SIS cheaply an
gsosslbae; 90 make their annual Payments
as small as possible. To 4Ssasrne 90 css-s-
vert enc payment Of losses Of any sort
into GA tnvestrneas operations 10 al, aissrrvi-
tty. Any advantage 90 favored few can
be had onfy by the wholly needless sners-
fsc-s Of snslrstutses. each one OF whom
hoped To be Of tire favored few,
CONDITION OF THE COMPANY.
The assets January ]. Isss. are -. "a
s-as3s by rzoar conservative valuation.
an snc-oass Ut ss'i. Kan dssrsnx the year.
Tia Ezo4z@ty fos rsAngwzaca ressgys @