Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-01-27
UNION MUTUAL LIFE
INSURANCE COMPANY.
Fifty=Ninth Annual Report.

THE FIFTY-NINT ANNUAL RE
| PORT Of the Directors of the UNION
MUTUAL LIFE INSURANCE COM
PANY to Policyholders is herewith
submitted.
| The regulations governing the trans
action of the business of Life Insur-
ance continue imperfect and burden
some. The restrictive laws of some of
the states in which the Company is
operating remain unchanged, and, as
q consel uei.ce, the procuring of New
Insurance is attended with more than
the usual difficulties of the past, the
problem being to find agents willing to
work enthusiastically for rate of COM
pensation that barely affords a liveli-
hood to the ordinary solicitor and yet is
all that the Statutes permit. Neverthe-
less. the New Insurance paidfor in
Maine last year was more than double
the amount of the previous year, while
| the total New Insurance paid-for dur
| ing 1908 shows an Increase of $655,627
over 1897, 246 more Policies having been
delivered, the years work standing at
| 1,H1 Policies, representing $2,934, SGG
| Ne " Insurance en- the paid-for basis.
Financially. the past year was one of
strong prosperity. Every step taken
was forward, every advance was ma
terial, every increase was effectual
| Much help came, and more will come,
from the lettering conditions of gen
eral business. The year closed with
the Assets aggregating $14,s53654n,
the largest ever in the history of the
Company, showing an increase of ST.,
0Sl, 1928 during 1908: and with the Sur
Plus standing at $9S4.429.4l having ad-
vanced 1851 ,S4cG6 within the year.
The Premium Income, 1925, $50 G,
was larger than in 1907, gains appear
ing in both new and renewal premiums.
Satisfactory increases are shown, also.
in the items of interest and dividends
from Investments, the Total Income
for 1908 reaching the sum of S2,S57, 01351.
When the year ended there We're in
force 1894 Policies on the paid-for
basis covering $50, 956, 966 Insurance. all
upon lives actuated by a common de-
sire, intent upon single noble purpose.
true to the high and guiding impulse
Of making certain the future comfort
Of those for whom they live.
The feature which most concerns pol
icyholders is that their Eeneficiaries
ICll h,a ,,f baX l,
Of Insurance guaranteed by the Poll
cies they hold raid without delay and
in ready cash. In this department ev-
cry effort is constantly being made to
hasten settlements Lack or necessary
information or the omission from the
proofs Of important facts are the usual
reasons which prevent the Company
from paying as soon as 1t would like
and is prepared to do. Quick action is
always taken when the papers are in
proper form. During 1905, 451 Dealt,
Claims were paid, representing $717,S44-
o. Insurance, which amount is 500, Sal 81
less than in the preceding year. The
greater part of this large sum no doubt
went into homes where money was not
plenty, where the cessation of income
occasiored Ivy the death of the bread
provided might have meant depriva-
ton, where it will be used in ways that
Will exert a distinct influence for The
bettermcnt Of humanity, the further
education of children, spreading hap
piness over a broader fold, covering
dismay with mantle of hope.
BY EndoWmentS and surrender val
,'cs. chiefly, and i'll other smaller ways
further large disbursements We're mad.
10 pollcyhclders in the past year, the
total being S1,264. 953.45, a sum which
differs slightly from what was paid in
1867, and which makes the amount paid
to policyhOlGcrs during the sixty years
of the Company's existence Sal 500, Sos
IS, with the wealth of comfort that
these millions have bestowed the more
cheerful homes thus made possible, the
number of children who have been pre-.
pared to take up the worlds duties with
broader knowledge thar they otherwis,
| could have, quite beyond computation
Misfortune is an element, seemingly
unavoidable, which enters into far too
large proportion of lives and vet
coming, as it usually does, inopportunc-
| ly. when troubles are multiplying. il
has long been essential for well-con-
h'ttoiiVu pcIi1iVs ~ COilldiu
| that shall provide for a fair and ap-
propriate value through such contin-
gency, and to do this i'm a way that
shall be independent of thought or ac-
ton on the part of the person Insured.
| Every Union Mutual Policy issued
within the past thirty-one years has
| embodied a provision exactly designed
| for periods of individual adversely, by
the continuance of the Insurance in
| event CT abandoning payments after
premiums for three. or more full years
have been paid in cash, for such a time
as will be purchased by the value of the
Policy computed in accordance with
| the terms of the Maine Forfeiture
| Law. That this feature has been OF
| more than ordinary Importance may
be seen through the many settlements
that have been made solely because of
| its operation. the aggregate being, with
| the close of 1908, Gil claims, covering
| S1,1S0,S15.42 Insurance; 81 of those
| claims representing $4,000 1nsur-
ance, having been paid in the last
year. 1t is undoubtedly true that
| the greater portion Of these par
| ticular payments, welcome though
l 4 4