The independent., 1903-12-17

AVAls OsSA nM0nl y A0VIGO
In an address before the Round Ia
BILE club in this city Mr.. S. H. Burn
ham, president of the First National
bank Of this city, called attention to
the Importance and advantages to Me-
braska people in patronizing home
life insurance companies. The value
of his advice and remarks in regard
to the benefits of home life insurance
companies to the state can be better
appreciated if illustrated with facts
and figures
The people of this state paid last
year over two million of dollars for
premiums on life insurance to the
companies from outside the state that
report to the Nebraska insurance de-
partment. How much more is paid no
one can tell. There are number Of
companies that do not report to this
department and there are many poll
cies held in these com mpanies by citi-
zens Of the state.
The companies who do report have
assets to the amount of $2,355 ,004, ,0G0
in round numbers These same COM
panies have outstanding policies in
force to the amount of 1851 ,52b, 900.
From these figures it will be plain
to see that the average policy for ST.
600 represents an interest or S317 in
these assets. In other words, the
holders of these policies have paid
enough money to these companies to
pay all death claims and expenses and
leave an accumulation of $3l7, which
absolutely belongs to the average poll
Icy for $1,000.
These same companies have insur-
ance in force in Nebraska to the
amount of $63,O0O,0O0. This amount
multiplied by $317 gives In round
numbers s20,000,000 as the amount Of
capital belonging to the people of Me-
braska and controlled by eastern life
insurance companies and used mainly
in building up the business interests
of the east.
1t is true that perhaps large part
of it is loaned in Nebraska, but still
1t is controlled by people whose in
terests and inclinatiOns favor the east
in preference to the west. If there
should be panic the men who con-
troll this money would very naturally
want to get it closer home and the
effect would be that in addition to the
$4,000, 900 of premiums to be paid each
year and the interest on money loaned
in the state by these companies every
loan coming due would be called in.
Such drain is serious matter when
times are good, but when money is
close it amounts to disaster.
These accumulations of money are
a necessity in the life insurance BUSH
ness; policies would be of no benefit
unless protected by these reserves.
The experience of assessment in
surance companies has demonstrated
this to the satisfaction of the great
majority of the people. 1t being nec-
essary to have these reserves for the
protection of policyholders, IL Is just
as necessary for these funds to be
kept at home for the protection OF the
business. interests of the state.
II this $20.000.000 OF annual pre-
miums had been paid to home compa-
MES. the state of Nebraska would be
In very different condition from
what 1t is today.
All OF the Nebraska life insurance
companies are In excellent condition.
The Security Mutual Life Insurance
Company of this city writes a policy
just as safe and more liberal In all its
terms than any OF the eastern COM
panies. Take MIR. Bnrnham's advice
and buy your Insurance In Nebraska.