The Daily Missoulian., 1909-01-26
SPLENDID BUSINESS
SHOWING
STATEMENT OF
THE BANKERS LIFE Asso.
CATION OF IOWA.

The twenty ninth annual report of
the Bankers Life association of Des
Moines appears elsewhere in this pa
per. 1t shows that steady growth
which has characterized its history
from the earliest days The Des
Moines Register and Leader. in a re-
| cent issue. discusses at length the
affairs Of this company in an interest
ing manner. all the more effective be-
cause II is the comment of home
people"
The new insurance written exceeds
S5s500, 600 That means an issue av-
erasing over $l95000 of policies each
business day through the year The
issues for 1908 exceed those of any one
of the % years since its work began
The amount of insurance now in force
is 1857 6SS000
Excluding industrial and fraternal
Insurance there We're but four life COM
panies in the United States which car
red 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
1t has come from the 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 management. They have worked
under no sort of pressure, have not
been attracted to it by high commits
sions or prizes, and owe their success
to hard and honest work and to the
helm uh ha,
ever been ready to say n good word
as the result of their own experience
| Taken as whole, it may safely be
said that its members. now numbering
| over 900 men, scattered over the
northern portion 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 We're $11,73S.775.76. The
| figures now stand at $13.502.47451,
having increased during the year by
| 1888. .69S.76.
| 1t has on deposit with the Iowa in
surance department investments
amounting to $10,S5S 144S9. These are
| largely loans made on Iowa farms--a
| form of investment which has proven
to be of the most satisfactory kind
under all circumstances. Several hun
dred thousands dollars of bonds is-
sued by Iowa counties, cities and
school districts are also carried,
The guarantee deposits made by
members now aggregate $6,672,53S
They are held as a forfeit to induce
the prompt payment of calls made
upon the members. Upon the aggre-
gate Of these funds are based the
amount of the calls each one Is asked
to pay to provide funds for each
quarters loss.
AS the average amount of losses to
be paid amounts to a little more than
$595,000 each quarter, 1t viii be seen
| that the pledge behind them Is over
eleven times the amount 1t secures.
The reserve fund is held for the
purpose of reducing the cost to mem
bers in future years. 1t now exceeds
$3.50, 900. having gained nearly $780,
900 during the year Just closed, It's
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
idTSe IL part IL VIII take III the future
progress of the business.
During the year there was paid to
beneficiaries the sum of $2,437, ,415.19.
| Each week there was disbursed to wild
oWs and orphans a sum of money
| running from $4,000 to 100000 Who
| shall say how much comfort and re-
| lief has followed this constant stream
of help In time of need? over $751;
| 100000 have gone from the treasury
| of the association to beneficiaries
since this work began. AS usual, all
death claims ready for payment were
| paid at the close of the year. The
death rate for each thousand dollars
at risk was less than 81. The cost to
| members aged 35 for each $1,000 of
| insurance carried was $9.45.
The report shows how strong a
hold this institution has upon the
public favor. The growth of the new
business, it's low death rate, the mod
crate cost of the insurance 1t sup
plies, the economical way in which it's
business has been conducted and the
care taken in the selection Of the ma
| terial out of which 1t is built up,
l