The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-06-12
PR0VIDENT HAS
THIRD / H BIRTHDAY
LUSTY INFANT
Home Insurance Company Cele-
brated Anniversary Today
Shows Fine Growth Z
NOW SECOND IN THE STATE
Only One Competitor Surpassed
1t in Amount of New Busi.
ness Written in 'l8
NOW SECOND IN THE STATE

4 The Provident of Bismarck, North
Dakota's only home life insurance
comuany. celebrated its third birth.
day anniversary today with the an.
nouncement that it has $7S51, ,42S
worth of insurance in force. The
Provident was chartered June H.
1915. A,year later it had $2,635,00O
insurance in force; June IL, 1918, it
had $5,40S, ,769, and today it is only a
little short of $S,00O,0OO. The assets
hive grown from $13S,53S in 1916 to
$345,814, and the reserve and Surplus
to pOlicyholders has increased from
$51, 1886 in 1916 to $341 ,905. /, 1 Among
forty-nine life insurance companies
writing business in North Dakota, the
,PrOvident ranks second in amount OF
new business placed on the books in
1918 The Northwestern National
was first, with $4,606,451. The Prov.
|. ident's new business for the year was
i$S,575,792. The same relative posi-.
ton vas held in 1917, when the
Proyident wrote $3,515,S69, as com.
pared with $4,2S0,032 for the North
western National. g.
s;s Flu Epidemic's History.
The Provident, in common with all
other companies, has passed through
the heaviest mortality period in the
history of the life insurance business
the flu epidemic of last fall. The
company met the situation by paying
all claims promptly. OF these 79s
claims were paid on the date the
proofs were received, and the Provi.
dent energes stronger than before
with $1,000 in prime assets against
each $1,000 of liability. Il
The Value Of Home comuany.
Primarily, the purpose of the
Providet is to provide safe. life in
surance,s but the underlying motive
for its inception was the, desire to
build, a Home Institution which by
its concentration of money III, North
Dakota Nd and neighboring h states,
would be. al effective force ii devel-
opine the latent resources said Sec.
retary, f.: L. Conklin today.
a"By Its investment at home OF
money received for premiums on it's
policies, in the form of loans secured
by mortgages ,andSin state and munic
1pal BoHds. many hundreis or ttuus
ands of dollars will be Kept here and
distributed by such investments,
among it's people. &
y"By insuring in home, company,
prompt payment in case of q claim by
death or casualty, is secured, ;,
"The policy holders ii' the Proyi.
dent Insurance CO. are, further pro.
tected By the stringent laws Of North
Dakota, which specify certain provis.
ions which must be in. every policy
and other provisions which mus not
be contained therein, and Provident
policies are all issued in strict con-
formity with these laws. ..
/ "The State of North Dakota also
provides another safeguard for policy
holders by the reserve deposit law,
under which the company deposits
the entire reserve on every policy &C.
cording to the North Dakota stand
ard, in the form of securities which
must be approved bSvthe insurance
department of the state, The policy
holder can thus be assured that there
will always be sufficient funds on
hand to carry out every insurance
obligation. of the company.