Los Angeles herald., 1909-02-10
ITS POLICIES HELD
BY MANY MILLIONS
METROPOLITAN LIFE GIVES
STAGGERING FIGURES
Some Member Insured with Company
Expires Every Six Minutes.
Assets Are More Than
$2oo,ooo,o 900

The power of the leading life insurance COM
panies is shown by the fact that the policy
holders Of the Metropolitan Life Insurance
company of New York outnumber all the in
habitants of Los Angeles, New York, Chicago,
Philadelphia, ST. Louis, Boston, Baltimore,
Cleveland, Buffalo, San Francisco, Cincinnati
and Pittsburg combined. This, and other
astounding facts, are shown by the annual
statement of the company for 1908.
The totals are so large they scarcely be
grasped. For example, the mind can scarcely
comprehend the significance of the statement
that the total amount of outstanding policies
at the end of the year was $1S61, $3.50, $685. but
we can easily grasp the no less astonishing
fact that during the business hours of every
DAY in the year an average Of 6343 policies
were issued and paid for. Every day-taking
the average for the year-441 persons received
from the company the full value in cash of
policies which had been carried for their bene-
fit. Every day the company paid out to its
policy holders and added to the policy paying
fund (reserve fund.- more than S166, 900. The
value of property owned and acquired by the
Metropolitan Life during 1908 increased at the
rate of $127,000 per day. policy holder of the
company dies every six minutes, and the COM
pany pays during business hours a death claim
on the average every siXty-two seconds.
The company owns nearly one hundred mil
lion dollars worth of United States bonds, city
bonds and railroad bonds and stocks; more
than ninety millions of bonds and mortgages;
than twenty-five millions of real estate,
and much other tangible property, all held as
assets available for the payment of its obli-
carried by individuals in the Metropolitan
Life.
Contracts Most Simple
1t is obvious that the Metropolitan Life il
managed and controlled by men of ability, but
thousands of business organizations that
never approach this company in magnitude of
operations 1t is not merely executive ability
but the ability to inspire and hold public con-
hdence that has counted most in building up
this greatest Of all insurance companies. The
Metropolitan Life deals directly with the peo-
pie. No man, however unused to the making
OF business contracts, fail to understand
exactly what are the terms Of his contract with
the Metropolitan Life. Every promise of the
company is set down in terms as definite and
clear the English language permits; every
obligation of the policy holder to the company
is equally plain. No inflated premiums are
collected for estimated benefits; every pay
ment to the company represents the lowest
cost of bona fide insurance.
Instead of leading its policy holders to hope
for more than they eventually receive, the
company has voluntarily taken directly op-
posite Within the past few years it
has distributed amounting to nearly
eighteen millions of dollars among its policy
holders in bonuses in addition to what the
policies promised. This has been done under
no other obligation than a moral conviction
that the company should share it's prosperity
with those who contribute toward its success.