The Republican journal. [volume] (Belfast, Me.) 1829-current, 1915-01-21
SIXTY-FlfTH ANNUAL REPORT
Union Mutual Life Insurance COMPANY
PORTLAND, MAINE.
To POlicyh0lders i:

To POIicyh0lders
T>HE SIXTY-F FIFTH ANNUAL REPORT, exhibiting
the business of the year and the statement of the
Company on the thirty-frst day of December, 1914,
is herewith submitted.
Life Insurance Companies frequently spoken OF
as financial institutions that the fact they simply
business corporations is commonly overlooked Life
Insurance Company exists only for the purpose of nsurng
lives and payment of claims and the charter of the Union
Mutual Life Insurance Company granted by the State
of Maine in ls48, provides,
The and investment of the funds belonging to
Pocyholders is obligation of the Directors chosen by
the Policyholders whose trustees they but the BUSH
in which the Company engaged is the writing of
Policies of Insurance and the payment of claims there
under as they mature.
Our Company organized and commenced business
in 1849 Its first Policy having been written the life of
Elisha B. Pratt of Cambridge, Mass the first President
of the Company, October 1st of that and paid
Death Claim in February 1861 since which time Insur
ance protection, aggregating millions of dollars has been
placed upon thousands of lives, and many millions of
dollars have been returned to Policyholders.
No unusual pressure has been exerted write new
business during 1914 and general conditions which it
is make extended reference have been
so favorable for the promotion of the business of the
Company in many other years when commercial actvi
ties of all kinds have been more prosperous.
Notwithstanding these conditions unremtting labor
of loyal corps of Superintendent and Agents who
not only seeking their livelihood but devoted
the interests of the Company whose representatives they
are and the prosperity of which largely depends
upon them has resulted in the fact that the New Insur
has been greater than the average of
past although quite equang the written
in 1913.
During the year there have been pad-for $3.50 Policies
of 100 Insurance. of which 1874 Policies of $685. 2O6
upon the lives of residents of Home State.
The total number of pador policies Force upon the
books of the Company 49, S6 of $685. 206S4 Insurance,
ipf
of the previous year.
The total payments to Pocyholders since the organza-
ton of the Company have reached the of $751; 212
750S0 of which 81 PIT 20 paid 1914 for Death
Claims, Maured Endowments Dividends and Surrendered
Policies details of which included in the appended
statement
The oldest Policyholder who died during the year had
reached the of nnetyone years. having been insured
for than fortseven and oneha years. but another
Policyhoder who died the age of ninety had carried
his protection sxty-three years and ten months The
average age of those who died during 1914 ftyve
years. and the shortest period during which Policy be-
coming claim had been in force two months and
eleven days. death resulting from eecrocution by live
WIRE Fourteen Poicyholders died in 1914 whose Policies
had been the books of the Company less than year,
their ages varying from eighteen to sxytwo and whose
aggregate insurance was SIS, 900.
There paid during the year under the extension
feature of Union Mutual Policies, which has been ex-
planned at length previous reports II Policies of $685.,
03501 bringing the total of Policies thus saved for bene-
cares 749, amounting ST. $751; us Sc Insurance upon
which the insured had ceased pay premiums through
neglect for other and which would have been
lost their benecarie but for the operation of this
LIBERAL provision.
Until within comparatively recent period Policy loan
of infrequent occurrence, but competition for bust
led Companies to insert loan agreement in
their Policies, with the result that when States
adopted standard forms of Policies such provisions
made compulsory that loans made to Polcyhoders
the security of their Policies constitute large and
increasing percentage of the assets of all Companies
Loans of this character add the interest income of
Companies but reduce the protective value of the Policies
upon which they made. This Company's loans on
Policies have increased from ST. 1884 100 H. December
81 1913 ST. 1885, 1853 So at the end of the year 1914
there of only SAL 500 40 during year.
The management OF the Company urges Polcyhoders
who have borrowed upon their Policies realize that their
provision for those dependent them essened the
extent of the mortgages placed upon their Policies
to repay the money which they have borrowed, has
been truthfuly said from their widows and orphans
The Union Mutual it's business Name, New
Hampshire, Vermont, Massachusetts, Rhode Island, New
York, New Jersey, Delaware, Pennsylvania, Maryland,
Ohio, Michigan, Illinois, Indiana, Iowa, Virginia, West
Virgana. Kentucky, Missouri, Nebraska, Kansas Wyom
ing Colorado New Mexico, Idaho, Utah. Arizona, Nevada,
Washington, Oregon, California and the Dominion of
Canada.
Our compa loans limited extent both approved
investment securities and mortgages OF real estate
shown by the appended statement but the policy
of the Finance Committee which will be continued is to
chiefly invest the funds of the Company in high grade
obligations of States Counties and municipalities in which
its Polcyhoders live, and who by the payment of the
premiums their Policies contribute to its income
More than million dollars of investments of this
natu re have been made during the year 1914.
CHAS. w. RYDER, Ma