Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1910-10-13
AIM And OBJECT
Of new LIFE IN
SURANCE co.
MIR. j. r.. MERCER EXPLAINS THE
LINES ALONG WHICH THE
WlASHINGT0N-LEE WILL OPER..
ATE, AND THE BENEFIT 1T WILL.
BE TO THE PEOPLE AND THIS.
SECTION.

NlASHINGTON-LEE WILL 0PER-
ATE, AND THE BENEFIT 1T WILL.
BE TO THE PEOPLE AND THIS.
SECTION.
Mr.. ]. r: Mercer, Chairman of the
Executive Committee of the Washing
ton-Lee life Insurance Company Of
Dawson, has given out the following
interview, giving thorough explain
alton of the company and tie business
of life insurance:
The Policy of the Company.-No
money is to be called until the com
pany is ready to do business. This is
the first consideration of the Wash
ington-Lee Life Insurance Company OF
Georgia.
The money secured from the sale
of stock is to remain in TIE local
banks upon certificates of deposit UNI
til such "a time as the business of the
company is thoroughly established.
This again is a new departure.
who are the organizers? This is
an extremely important question. one
that should be thoroughly investigat-
ed The men forming the Organizing
Board of the Westinghouse Life In
surance Company of Georgia are men
who have made a success of life, men
whose regulations stand pre-emnent.
men who are esteemed and respecte /.
who have been handling the money of
the public for many years, men who
have weathered the storms of panic
stricken times.
The Kind of Business to BE
Engaged In.
When one hears of life insurance,
THEY naturally think and believe that
it is as they have always heard Of.
insuling peoples lives, ami so it IS
with Us, but in addition to the regular
standard forms of policies, the WASH
ington-Lee Life Insurance Company
of Georgia will write what is known
IS Intermediate Insurance.
The meaning of Intermediate In
srrance is TIE writing of policies of
not less than $500 and not more than
$500 on one life, for the working pep
pie and the middle class Consider
the people who cannot buy 81 600 of
insurance which varies ON the ordi-
nary Life plan from $1,000 to $4,000
per $1,000 (using tLdrty-five years Of
age as the basis), anl then consider
these same people when offered the
intermediate class of insurance whicr
they can bug at the same rates but in
sums from $4,000 to $4,000 at TIE
rate of $3.50 per year, or cents per
week for each hundred Think of the
field, the tremendous possibilities, am Il
the tremendous income that this co.'s
pany viii secure. So what is meant
by TIE intermediate class of insur-
ance is the writing of policies for not
less than $4,000 and not more tina
100000 ON one life forthe working peo-
pie. We have Absolutely no compeH-
tion. There are companies in the
North writing this class of business,
and those same companies, the Met
ropolitan of New York, and the Pra-
DENTAL of Newark, have made fabu-
lous fortunes. 1t gives to the people |
without means that opportunity to Sc
cure that protection that they need
more titan the man with means al
the protection that is essential and
that is acknowledged as a necessity. |
We are not educating these people up
to something new, We are giving
them something Old. We are giving
them what they lave not been able
to secure before. The laboring people !
are, by far, in the majority, AID that
fled has been untouched. This is our /
field We reach tie masses who have
moi means to buy large policies, and
who are really and waiting to secure
Intermediate Insurance. Relative til
cur field IN the state of Georgia, there |
are 100000 people who are insuraoie |
risks, out of which c1ly 112 600 are in
sursd. 9.72 per cent of the total in
surable popu abion. In cur neighbor
ing state of Alabama, there are 914,- |
coo insurab.e ris'ls and only $4,000 in !
surea, or 1851 per cent of tie total in |
surable population; while in the Unit-
ed States there are 100000 insur-
able risks, with only 100000 insured.
The Metropolitan of New York 5
statements show growth in ten
year periods Of:
In 1883 an income of little less
than 100000, while in 1899 they
slow an income of yearly $4,000, 0O0; |
and in ten years more, 1909, they
show an income of $50, 900 600; white
their assets at the end of 1889 equaled
a little less than their income, which
was $9,OO0,00O; in 1899 it amounted ID
$51 ,000,000 while In 1909 it equaled
tie fabulous amount of $277,O00,00O.
while with the. New York Life Ia
surance Company, of New York, over
$3.50, 100000 of their 100000 600 of as
sets has been gained in the last ten
years, which clearly indicates that the
people are coming to TIE realization OF
the need, necessity and virtue of life
insurance and are accepting it, not
only as need, but as an absolute
duty and necessity
Security and Safety.
Life insurance companies stand on
the same basis as national bank notes
Securities are deposited to protect
Them. You. do not question the valid
ty of a $500 bin or a national bank
note Of any other amount whether Z