Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1911-01-18
81 ST ANNUAL REPORT OF
- Union Mutual Life Insurance Company, I


PORTLAND, MAINE
which consists merely of paying premiums regu-
larry, Life Insurance results would be even more
satisfactory than they are, but experience is con-
stantly demonstrating that many falter in the per
Torrance of this simple duty, sometimes wholly
through neglect more often because of misfortune.
An important feature Of Union Mutual Policies, after
premiums for three full years have been paid in cash.
is that they do not become worthless though dsre-
garded the protection being continued for such
period as the value of the contract under the ex-
tended insurance feature will provide, unless
other option be selected Year after year. through
the than three decades that this provision has
been operative, substantial sums of insurance have
thus been saved for benehcaries, the total amount
paid upon Policies kept in force solely by this privi
lege, and under which death occurred within the
period Of extension having reached at the close of
1910, 1,269, 6s0.s5, represented by e4 Policies
Thirty four of these helpful payments were made
during the past year, covering $50 Insurance
As the circumstances which make the extended in.
surance feature effective usually those of indi
vidual adversely, in all likelihood the money de-
rived from these settlements has reached families
particularly in need of funds where comfort has
been absent, and so has been of more than the ord
nary benefit which always follows the payment Of
Life Insurance.
The growing tendency to borrow money on &C.
count OF Life Insurance Policies is noted with con-
Germ for the interests Of beneAciaries. Such loan
represents mortgage upon mans possessions just
as certainly does money borrowed upon real es
tate. The only ustiaable purpose for which Policy
loan should be secured is to meet a premium which
cannot otherwise be paid. Most Policies are taken
for the protection Of families. Money secured on
account Of such contract lessons the fund for the
future in order that present and frequently unim-
portant call may be met deprves ones wife OF a
portion Of the protection she has every right to
pect will be maintained intact not to mention other
ways in which it might disadvantageously operate.
The privilege of making loans is established fea
ture of modern Policies we'll a requirement Of
the laws of several states though in practice it is
we'll understood that the widespread habit Of Dor
rowing for trivial because it be done, par
TALLY and sometimes wholly defeats the original in
tention for which the Insurance taken. The
management urges that Policyholders be less ready
to place a lien upon the future happiness Of their
homes, that they consider carefully whether mme-
date necessities warrant so inadvisable course.
The burden Of taxation has been emphasized in
other reports. It is still increasing 1t adds ma
teriay the cost Of transacting the business and
is charge that falls directly upon every Policy
holder, coming, as it must from premiums. The
reforms which ought to be effected in this direction
will he fastened if every Policyholder will exert his
personal influence upon legislators in his own state
to secure a modification Of excessive taxes upon
premiums collected.
In undertaking to properly solve the problem of
maintaining satisfactory increase Of New Insur-
ance, the management will especially welcome the
cooperation of Policyholders, who can be Of dis
tinc helpfuness toward furtherng the interests Of
the Company, which is mutual in all results, by
suggesting persons who might be insured and by
recommending men suitable to act as agents.
To make every year better than it's predecessor
continues to be the ambition of the management,
satisfied with what has been done only because Of
the aid which it gives toward larger accomplish
ments In all departments of the business the out
look abounds with expectations of progress,
strengthened by the experience of the past fortified
by the good will of those who carry Policies, and in
spired by desire to record more and greater deeds
achieved.
Respectfully submitted.
FRED E. RICHARDS, President.
ARTHUR L. BATES, Vice President
EDWARD A. MOVES,
FREDERICK Robe,
FRANK E. ALLEN,
SELDEN CONNOR,
DAVID G. HAMILTON,
J. FRANK LANG,
HENRY B. CLEAvEs,
JOSIAH II. DRUMMoND,
WILLIAM T. COBB,
EDWARD B. WINsLOw, Directors.
PORTLAND, MAINE, January II, 1911.