The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-09
THE OLD WAYNE MUTUAL LIFE,
1897 A "BANNER YEAR'-LIABILI-
TIES AT ZERO.
Over $4,000 In Death Claims Paid
Classes for Young, Middle
Aged and Aged.


standing the many failures that were
chronicled throughout this country seems
to have been a very prosperous one with
solid institutions. AT least, this can be said
of the old Wayne Mutual Life Association,
who are ensconced in large and spacious
quarters in the Commercial Club building.
This company was incorporated March %,
1888. and, by careful, energetic manage
ment have UP to the present time 1852 pol
icies in force calling for $12 SOS, 25O of insur-
ance in force. They have no liabilities,
while their assets amount to $57, $685. The
amount of death claims paid is over $3.50, 900.
The entire amount of insurance written to
date is over $685. 900, 600 Eighteen ninety-sev-
en- has been banner year with this COM
pany, having multiplied by three their pol
icies in force, assets, ETC.. and still liabilities
remaining at zero. The old Wayne is found
ed upon scientific principles, and issues
three distinct policy contracts with the
latest approved conditions) for the young,
middle-aged and aged, divided in three
classes. Senior Glass A insures from sixty
to eighty-f1ve years, inclusive, with the pol
icy in full force at the end of one year,
twelve assessments (monthly) in each year
being made. The limit of insurance issued
in this class is $4,000 on any one life. BY
paying double the monthly rate of assess
ments the company issues a special policy
contract, thereby placing it in full force
from date of the applicants acceptance by
the company. This company prides itself
on being the only one in existence furnish
ing a safe and permanent plan of insurance
for people of advanced years. Fifteen years
of successful experience in this line is
guarantee of their reliability and a safe
guard against all possibility of nonpayment
of risks as they become due. Over seven
thousand paying policy holders are en-
braced in this class, an increase of 1900 as
compared with the year previous. In Junior
Glass A policies are in force from the day
of issue, and applicants insurable from
eighteen to fifty-five years, inclusive. In
this premiums are payable annually, semi
annually or monthly, being optional with
the insured as to which mode of payment
he prefers. Losses guaranteed Full pay
ment at death or end of expectancy of life,
with paid-up insurance and cash surrender
options. Loans are made on these policies
at reasonable interest and are accepted as
security and absolutely nonforfeitable after
three years. Insurance to the extent of
$4,000 is taken on any one life, and all
losses paid within thirty days after receipt
of proofs of death. The premiums on these
policies are about the same as those
charged by old-line companies on their
straight-life policies-only this company
eliminates the feature so Objectionable to
the majority of policy holders by not pay
ing dividends on inflated premiums. Risks
taken in Senior Glass B are in full force
after three years and insurable at the
age of eighteen to seventy years, inclu-
sive. In this class premiums are payable
bi-monthly (six per Year, and losses are
paid in four annual installments. This class
has only recently been inaugurated by 1.-THE
old Wayne Sept. q, 1897, being the date
of beginning, and has already proved with
so much success that 800 of insurance
was written in this class. Under this plan
$1,000 insurance can be carried for the same
amount 81 600 would cost in any good COM
pany where policies are in full force on
date of issue, the only difference being the
insured is required to carry part of his
own risk during the first three years. In
surance to the extent of $1,000 can be had
in Glass b up to age of sixty-fve. Spe-
cial policy contracts are also issued rem
dering the policy in full force from date
by giving the privilege of paying double the
bi-monthly premiums. Their February BIZ
monthly premiums will exceed $500, which
will be added to "Class b. reserve fund.
Never having had a loss in this class they
confidently expect to have over $4,000 with
in one year in the fund to guarantee the
payment of all losses in full, and within
five years, at the present rate of increase,
this fund will amount to over 100000 This
is the only company which has for the past
sixteen years-the length Of their exist
ence-paid every just claim within ninety
days without a suit at law 1t seems their
policy contracts, when intelligently and
honestly explained, are preferred to those
of many others. In short, the "old Wayne"
has the entire confidence of its policy hold
ers and the insuring public, accounting for
the immense business they enjoy. With
continued increase from year to year, each
succeeding one being in excess of the pre-
vious one, is proof CT the entire satisfaction
given their patrons.