The Republican journal. [volume] (Belfast, Me.) 1829-current, 1912-01-18

vT]HE SIXTY SECOND ANNUAL REPORT OF
i tho Directors of the UNION MUTUAL
LIFE INSURANCE COMPANY to pocyholders
is herewith submitted.
As in other recent years, a summary OF rne
work accomplished indicates pronounced advance
ment in all of the departments where nnancial
strength and insurance reliability essential fac
tors, these results having been secured during
period that cannot be said to have been one of dis
tinct general prosperity. Conditions surrounding
the business of Life Insurance are. however, grad
uav becoming normal. the public attitude toward
protection is again wholly trustfu and apprecative,
and the uses for policies steadily broadening,
thouoh the difficulties of procuring and retaining
agents under the limitations of compensation estab>
lished nv law somewhat restrict progress.
Tn the department of New Insurance paid-for,
where development may really be said to start an
increase over the previous year of 287 Policies and
S7zl 361 Insurance was recorded the total for 1911
being 2. 959 Policies S., 242 246 Insurance.
In the Home State of Maine, New Insurance paid
for reached $1,000 O29.3 80, gain OF $24O 429 So In
surance over 1910, which may reasonably be con-
strued as indicating the confidence and good will OF
the people where this institution has long been
established, particularly as this advancement is not
matter of one year but Of many. In other terri
tory where business transacted increases of vary
ing size are the common showing.
The financial development of the Company has
been along the same steady and satisfactory lines
of progress as in other years. Although the ap-
praisement made by Messrs. Edmunds Brothers,
Bankers Boston, Mass, places the values OF securi-
ties upon somewhat lower level than at the close
of 1910 the Assets show an increase of 1901 1857 70
over the previous year, standing at the end Of 1911
at SIT 97S 645 49, while the Surplus advanced $74-
99S.O7 being S., $685. 444. 46 when the year closed
The Premium Income for the year reached 81, 251,-
OPT 3d. which is $l1, 54 81 more than it was in 1910
Other receipts such as interest, dividends from in
vestments and rents make larger aggregate, the
Total,Income standing at $3025. OO3.9O.
The purpose of Life Insurance covers so much
more in these days than the protection OF families,
though this must always stand the superlative
mission, its usefulness having also been recently
established as conservator OF business interests,
that it can we'll be expected the volume of Insur
ance in Force will exhibit reasonable growth year
by year, yet the power for good deeds which rests
with the 49, 229 Policyhoders who have $685. l04 245
Insurance. and who compose the Company as it
stood at the end of 1911, stands beyond the magi-
nation of even those who optimistically inclined
Every contract represents definite thought
for the betterment of humanity, certain to be full
filled at some undetermined date, necessitating only
the regular payment of premiums for its ultimate
ummation.
The uncommon feature about Life Insurance, the
one factor which distinguishes it from other under
takngs in which men participate, is the fact that its
maturity is inevitable. 1t constructs from the
greatest uncertainty the most dependable certainty,
while much care is exercised in the selection of
risks, and a small percentage of those who apply
for policies are necessarily cassed as Ineligible
still every year gives abundant illustration of the
urgent need of insurance protection. In 1911 467
Death Claims settled representing 1874, 813 IA
Insurance. This is $780, 1863 SO lar ger than the
amount paid in 1910, and is due in great to
the fact that there unusual number of
deaths in the latter part of the previous year, the
settlement of the most of which necessarily went
over into 1911. Prompt consideration and payment
is made feature whenever circumstances permit,
both good business procedure and in recognition
of the imperative need of money at such times.
Other returns to Policyhoders in the form of dvi
dends, endowments, surrender values, etc, were
made during 1911, amounting to 5000, 391 SO, the
entire payments to Policyhoders for the year ag-
gregating $1,6s5, POS Is, which fixes the total paid
by the Company to Policyholders during the sixty
two years that it has been conducting the business
at SAC, O13, II, sum so vast in volume. dis
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