The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1909-02-10
THE METROPOLITAN LIFE
INSURANCE COMPANY

For the information OF its army OK
policy-holders. the Metropolitan Life
Insurance Company. OF New York, has
issued a statement Of its standing a.
the end of the year 1905 The facts
set forth show that this great inSur-
ance organization continues 10 carry
more policies and 10 distribute greater
benefits among the whole people than
any other like institution, while its
Cwn resources gain steadily in prope.
ratio To its increasing volume or busl
ness.
The magnitude OF the Company 5
operations is astounding. To fully un-
derstand the meaning OF the figures
dealing in totals for the year. II Is
necessary 10 bring them down 10 the
smallest division OF time. For exam
pie, the mind can scarcely compre-
bend the significance OF the statement
that the total amount Of outstanding
policies al the end OF the year was
81 SCI $50, S03. but we can easily grasp
the no less astonishing fact that dur
ing the business hours of every day III
the year an average OF 6,343 new
policies were issued and paid for.
Every day-taking the average for the
year-44l persons received from the
Company the full value in cash OF
policies which had been carried for
their benefit. Every day the Com
pany paid out TO lis policy holders and
added TO the policy-paying fund ire
serve fund.- more than $4,000. The
value OF property owned and acquired
by the Metropolitan Life during 1908
Increased at the rate OF Sl21,OoO per
day. a policy-holder OF the Company
dies every six minutes. and the Com
pany pays during business hours a
death claim on the average every six
ty-two seconds.
The Company owns nearly one hun
cred millions dollars worth OF United
States bonds, city bonds. and railroad
bonds and stocks more than ninety
millions OF bonds and mortgages;
more than twenty-five millions OF real
estate, and much other tangible prop
e.ty, all held as assets available for
the payment of its obligations. Near
ly ten million policies (9,96O.l06) are
carried by individuals In the Metro
politan Life. IL these policy-holders
were gathered into one community
they would constitute a city OF more
than the combined population Of the
twelve largest cities in the United
States.
Perhaps nothing brought out in this
report is more wonderful TO contem-
plate than the fact that one force Of
Executive officers and Office employees
transact business OF this complicated
nature with so vast number OF peo-
pie.
( II is obvious that the Metropolitan
4 lie is managed and controlled by men
OF consummate ability, but so are
thousands OF business organizations
that never approach this Company in
magnitude OF operations. II Is not
merely executive ability. but the abil-
hty TO inspire and hold public conf
ldcnce that has counted most in build
ing up this greatest OF all insurance
companies. The Metropolitan Life
deals directly with the people Its
policy from the beginning has been
one OF entire frankness with the PEG
pie. No man, however unused 10 the
! making of business contracts, can fail
! TO understand exactly what are the
! terms OF his contract with the Metro
| pclitan Life. Every promise OF the
! Company is set down in terms as
/! definite and clear as the English Ian.
| guage permits; every obligation OF the
! pclicy-holder to the Company Is equal
ly plain. No inflated premiums are
collected for estimated" benefits
every payment TO the Company repre-
sents the lowest cost OF bona fide in
surance.
Instead OF leading Its policy holder
to hope for more than they eventually
receive, the Company has voluntarily
taken a directly opposite course
Within the past few years II has dis
tributed sums amounting To nearl!
eighteen millions OF dollars among ~
policy-holders in bonuses i'm addition
&c what the policies promised. Thi
has been done under no other 'obliga
lions than a moral conviction that ia,
Company should share its prosperity
with those who contribute toward 10
success.
The confidence and goodwill Sc
cured under this enlightened policy nc
count for the fact that for fifteen con
secutlve years. including 1908. the
Metropolitan Life has received more
rev business than any other insur.
@ance company I'M the world
Exhaustive Inquiries into the his.
tory OF several thousand European