The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-27
Fiftieth Annual Report
Connecticut Mutual Life
Insurance Company.
To the Members:

To the Members:
Fifty years ago few men living in Hart
ford became interested in the. then novel
scheme of life insurance. They had no
knowledge of its science, but were attracted
by its promised results-the protection OF
the family against the money loss incurred
through the death of its bread-winner. A
New England community, with its steady
ways its sobriety of temper and habits,
its many homes sheltering Industrious, fru-
gal, thrifty households. it's pervading senti-
ment of family affection. and its strong
sense of duty, seemed to them proper
field for the proposed bene6cence. Not de-
string to make money out of 1t, but simply
to give this protection at its actual cost to
all needing ii, they determined to make
mutual company. And so the Connecticut
Mutual Life Insurance Company was born,
being chartered at the May session of the
General Assembly in 1876, and soon there
after organized for business by securing
a guarantee capital, soon after retired, and
five hundred applications for policies. or
which nineteen are still in force. Fortunate
ly for the company and for the develop
ment of life insurance in this country, in
the absence of an American experience, re-
sort was had to the then fundamental as
sumptions of mortality, interest. and ex-
penses which had been proven safe by the
English practice. The prudent thrift, char
acteristic of New England business opera
tons of every degree, was from the out
set a marked feature of the companys
management. Another occasion VIII DE
chosen TO set forth some of the more in
terestipg details of the companys history,
its careful progress, its conservative changes
in the bases of its calculations, and Its
in the matters Of returns of surplus and
the application Of reserves on lapsing
policies.
For the purposes of this report it is suffi-
cfent. to call your attention to the follow
ing striking group of facts.
From its organization TO Jan. l, 1896, the
company received:
For premiums $500. $1S7, SOS, $3.50
For interest ......... t5,oo5, 5.z-oo
Bal. profit and loss. 9S5,07S.Sf
Total receipts .................s2 6S. III .sl65S
1t has paid $3.50
death claims for. SS0OOS,ISi.S
6,552 endowmentS for 13l66,SlO50
Surrendered policies. 2394i, 4Sl.99
For dividends $1,000. "a ,692, 1Uo.O3
A total returned to
policy holders or
their beneficiares,
being 93.S8 per cent.
of the entire pre-
miumS received. $40, 81, lS1.l5
II has paid for eX-
penSeS .............. 23,4l9,5o6H
Taxes ............ $3.50. 224.37
Total expenditures S2O1 ,9il, "a
Balance net assets Jan. l, 1896. $50. $4,000 Ca
1t has additional assets (see
StatemenD ............ .......... i'99o''fo.'i
Total assets ......... s62, 75s, 7e5 IS
That is. the amounts returned to policy
holders and their oenehclarles C..o'l-;;,,
1919 and the BALANCE or income aiter r,J an
676, 2G5.T, are 1862 per cent. OF the enlire
amount received from policy holders. Add
ing the further. items of assets, as ABOVE ,
at an expense of management OF ga per
cent of the income. Both in what has been
done for the policy holders ana IN th me ECON iov
cost of the protection given-these results
are eqralei by no American company
OPERATIONS IN 1895.
The year 1925 was one of prosperity.
fair gain in new business and in the amount
at risk, with no increase in expense; favor
able mortality, with considerable saving
therefrom; a substantial gain in surplus. not
withstanding an increased dividend, and a
general maintenance of healthy conditions
are the chief features of the years expert
ence.
ments of the several State Insurance De-
parIments interfere with our long-coptinued
practice of completely closing aAyears bust
ness before reporting ii, and compel us to
Close our books while many items OF busi-
ness belonging to the year were still out
standing. In consequence, we snow an item
of premiums in course OF collecton-for the
| first time in many years-a larger uncollect-
ed interest and q slightly larger ratio or ex-
pense to income, without an actual increase,
| than would otherwise have been the case
| The full expenses awe been incurred with
| out our having received the full income to
| which they are reieraDle. II is proper &c
| say that We actually closed the years bust
| ness as has been our custom; but we are not
| as the figures wou.d not agree with those OF
| the reports required by the several depart
mentS.
THE OPERATIONS OF THE YEAR
| as covered by our report to the Insurance
| Departments are as follows:
| Net assets, Jan. /, 1885,. $50, 5i6, 1886
| Less deductions from
cost Home Once
Building UV,COOV0
Balance net assets. .S60, GAG, sos Sc
Received
| For premiums $1,000. s4,6s1. 1919
| For interest and rents 1907 505.69
| Balance profit and loss H.269.i0
| Total income ACKNOWLEDGEMENTS. 1888, 2Oi IS
SIS, 1ss, eo2 "A
Disbursed-
| For claims by death
and matured endow-
Surplus returned to pol
icy holders ........... 1,242,9 47.93
! Lapsed and surrender
ed policies ............ boo,yio.Oo
| Total paid policy hold
erS ................. $o,Sol,5lo.oo
Commissions to agents,
salaries, medical ex-