The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-02-07
METROPOLITAN LIFE.
Living Figures In the Annual State
ment of the Company.

The yearly compilation of statistics pub
lished by the Metropolitan Life Insurance
company is never dry reading A sum-
mary of that company's business for the
year 1905, just issued, tabulates astound-
ing figures in the concise manner ap-
proved by accountants, and following the
custom of former years, supplements
them with a clear and lucid analysis for
the benefit of people who are not ac-
countants
Few persons are sufficiently familiar
with great financial operations to grasp
Immediately the full Significance of bal
ance sheet in which totals and grand
totals are expressed in hundreds of mil
lions, but the purpose of a life insurance
statement is doubtless to inform and en-
tighten Its multitude of policyholders,
and this purpose the Metropolitan man
agement accomplishes with signal sue
cess. Following closely upon a period of
agitation in the life insurance field such
a statement is timely and specially inter
esting
After placing before the public a COM
prehensive statement of the company $
general condition, and presenting a series
of comparative items, the Metropolitan
reminds the public again that the num-
Der of It's policyholders (now increased
to more than eight and half million)
equals the combined population of our
eight largest cities. In other words if
the companys policies now in force,
were all placed in New York, Chicago,
Philadelphia, Boston, ST. Louis. Cleve-
land, Cincinnati and Milwaukee, every
man, woman and child in these communi-
ties would possess one.
Men now living remember when the
whole United States could hardly have
GO hor of ms n a
persons. Even at this day there are
twenty states and territories whose
combined population does not equal the
number of people carrying insurance in
this one great company.
The public is informed that nineteen
thousand persons were in the company
service at the end of 1906 If one adult
breadwinner represents five individuals
in the total population, we must con-
clude that nearly hundred thousand
persons draw subsistence from this in
stitution-not in insurance, but In direct
payment for service to the company.
This army of nineteen thousand en-
ployes evidently includes no drones.
During the year just closed 1t handled a
daily average of one and half million
dollars in new business alone. The COM
pany issued on the average nearly seven
thousand new policies every business day
during the same twelve months.
A single item which illustrates graphic
ally the real meaning and purpose of all
this tremendous business is that relating
to insurance claims paid during the year
These amounted to more than $15.O 600
This means that some one received from
the Metropolitan Life In benefits one
hundred and six dollars every minute of
every business day of eight hours through
out the year.
Again, the uncertainty of life and
health, and the universal need of life
insurance are most impressively empha-
sized In the statement that 15,1$ policies
paid within the year 1905 had been in
force less than twelve months; and that
4326 of these policies were paid in less
than three months from the time they
were issued.
The Metropolitan Life began the year
1906 with assets of more than one hundred
and fifty million dollars, showing an in
crease of more than twenty-three million
dollars over the preceding twelve months.
This evidence of ample and increasing
strength Is most satisfactory thing for
policyholders to contemplate, and 1t Is
a further cause for satisfaction that the
largest years business in the companys
history was transacted at a lower ratio
of expense than has ever been reached in
previous years.
The company directs particular atten-
ton to the fact that it does not issue
Tontine or deferred dividend policies.
nor any form of contract which fails to
specify in exact terms what the insured
is to pay in premiums and what he is to
receive in benefits. That the simplicity
of its contract agreements is popular
feature will not be questioned in the light
Of facts above noted.