Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-01-12
The Largest Insurance
Organization in Iowa
Splendid Business of the Bankers Life
Association-Its Strong Finan-
cia Condition.

ne ZJll annual report OF lHe Bank /
ers' Life association of Des Moines ap-
pears elsewhere in this paper. 1t shows |
that steady growth which has charac- |
terized its history from the earliest |
days.
The new insurance written exceeds |
$5S.500,000. That means an issue av-
eraging over $4,000 of policies each
business day through the year The
issues for 1898 exceed those of any
one of the % years since its work be-
gan. The amount of insurance now in
force is 1857 ,6SS,O0O.
Excluding Industrial and fraternal
insurance, there were but four life
companies in the United States which
carried at the first of the year that
amount of insurance.
This enormous volume of business
has been obtained by methods of the
most conservative kind. No part of il
has come from taking over of other
insurance concerns unable to manage
their affairs. 1t is largely the work of
small agencies carried on by men who
had faith in its methods and manage
ment They have worked under no
sort of pressure, have not been attract
ed to it by high commissions Or prizes,
and owe their success to hard and
honest work and to the help of its
own members. who have ever been
ready to say good word as the result
of their own experience. Taken as a
whole, it may safely be said that it's
members, now numbering over $4,000
men. scattered over the northern por-
ton of the United States. constitute
as fine a body of insurance risks as
can anywhere be found.
The total resources at the date of
the last report were s11,7SS,775.76.
having increased during the year by
$1,763, 69S75.
1t has on deposit with the Iowa
insurance departments investments
amounting to $10,S5S, 144S9 These are
| largely loans made on Iowa farms
| form of investment which has Aprpven
| to be of the most satisfactory kind I'M
| der all circumstances. Several hun
dred thousand dollars of bonds issued
by Iowa counties, cities and school dis
tricts are also carried.
The guarantee deposits made by
members now aggregate $6,672 ,53S.
| They are held as forfeit to induce
the prompt payment of calls made up
on the members. Upon the aggregate
of these funds are based the amount
of the calls each one is asked to pay
to provide funds for each quarter
| loss.
AS the average amount of losses to
be paid amounts to little more than
$595,000 each quarter it will be seen
that the pledge behind them is over
II times the amount it secures.
The reserve fund is held for the pur.
pose of reducing the cost to members
in future years. Itsnow exceeds $3.50.
600, having gained nearly 100000 dur
ing the year just closed. Its increase
alone would have paid about one
third of the death losses incurred
AS it grows from the interest upon
, all the funds of the association with
the power of interest compounded year
after year it will readily be seen how
large a part of it will take in the fr
ture progress of the business.
During the year there was paid t.
beneficiaries the sum of $2,437 415.19
Each week there was disbursed to wild
| ows and orphans a sum of money run
ming from $4,000 to 100000. Who shall
say how much comfort and relief ha.
| followed this constant stream of hell
in time of need? Over SIS Gao. Geo hav,
gone from the treasury of the associa
ton to beneficiaries since this work be
gan AS usual, all death claims ready
| for payment were paid at the close o
| the year. The death rate for eacI
81 900 at risk was less than 81. Tht
cost to members aged 35 for eacl
! 81 900 of insurance carried was S9.45
| The report shows how strong a holt
this institution has upon the publ
| favor. The growth of the new busi
ness, its low death rate, the moderate
| cost of the insurance it supplies. TIL
| economical way in which its bushes
has been conducted and the care TAX
en- in the selection of the material on
of which it is built up. are some of tn
flfactors which account for its strengtl
land progress.