, 1922-01-20

AAAlkAN4NEaAA
which for three-quartsrs OF a century
IN America, has wtthstood every as
sault, weathered every panic, outifyed
every epidemic and survived wars. ex.
~periments. pestIlence. litigation and
Legislation. has earned. deserves and
should enjoy snd maintain the respect
and confidence OF every right-think-
ing American
There are Individual banks, firms
and families whose record IS phenom-
enal in the length OF service they have
given h people OF America. but there
are no commercial undertakings In
this young land which can parallel ths
marvellous record OF legal reserve life
insurance.
II is h n cooperative corpor-
ate entity, which stands upon so firm
a foundation that It could. and did.
face every form of disaster without
impairment reorganization or revolu-
ton No other form OF commercial en-
deavor has SO entrenched itself In
principle, practice and accomplish
ment. There have zen a very few
mlsmanaged and unsuccessful legal
reserve life insurance companies.
There VIII be others. But the only
possible Excuse for failure, whether
large or small. IS weakness of man
sgement or corrupt manipulation The
probability OF both Is reduced to the
minimum by supervision and public
ity.
Based on an immutable law OF life.
as II has bean automatically deter
mined. life Insurance on the legal re-
serve plan is sac as al established
government From the serene heights
OF a monument builded on faithful cp-
plication OF the principles OF average
and cooperation. Iegel reserve life In
surance shines forth IN all its beauty
OF beneficence.
Widows and orphans praise Il. Cap
itai and labor alike are its ~benefctar-
les. Embarrassed business men and
hhrd.pressed debtors eind II the friend
indeed in time OF eed Estates build
cd IND conserved. proclaim its value.
Children educated and youths started
in professions or business, mark Its
onward course. Whenever II is called
upon for service. whether in financ-
ing the farmer, building and ncquir'
Ing the home, protecting a business.
tidinS over a debtor or saving an es-
tate from the sheriff. providing for
old age or covering loss Of employ
ment, without discount, debate or de-
lay, life insurance performs its great
duties.
The life insurance contract Is the
highest form Of agreement thus far
devised by man. It is the only gainfui
undertaking which is not based upon
h relation OF gain ard loss. Every
other character loss on n side. II
there DO gain on the other. In every
step OF every transaction. Legal re-
serve life insurance is a recurring sue
cession of gains
A~ctuarially. legal reserve life insur-
nee is a system OF eauat.csls Theo-
retically, every persisten. policyhoider
in a legal reserve life insurance COM
pany lives out his expectancy. The
premiums he PAYS on his policy. IN
creased by compound interests. are
tho automatically equivalent OF the
sum payable at the maturity q the
contract plus expenses and. in case
of mutual companies. tho refunds
misnamed dividends or dividend add
tons.
When q policy natures by its terms.
the net premium payments and acre
tions arc returned TO tho contributing
p~olicyholder or his beneficiary. MRth.
ematically considered, the company is
out OF money. the policyholder has
had protection throughout the term OF
the contract equivalent In money to
his payments year by year. and the
beneficiary is enriched by the amount
paid by the company in settlement
OF the policy obligation. The commu
nifty where the beneficiary resides
has the amount received by the bene.
ficiary added TO Its aggregate wealth
There IA M loss anywhere along the
line. for each party to the contract
from the agent who solicits and the
medical examiner who examines. to
the community of which the benefi-
ctsry Is a part has bee compensated.
It will be urged by actuaries that
there is a o s Of the producing power
Of a life. where the policy natures by
death. but this is an inaccuracy. When
a man dies. another takes his place. In
the economy OF human life, death Is
merely the fruition OF life. Death Is
not a property loss. In both these in
stances. there is only a partial or com
plete recoupment 20 the individual
policyholder. The loss OF time and the
destruction of physical property are
losses to h community which It is
impossible to restore and for which
compensation to such community, is
impossible.
The distinctive characteristic OF the
life Insurance contract is its power
IN n n ~ nm