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from the The Chicago Republican newspaper on Saturday September 28, 1867
Part of the American Term Life Insurance History Project
Term Life Insurance

 

 

to show to the world assets to the amount of Over SIXTEEN MILLIONS OF DOLLARS, all safely and securely invested ; and yet this does not show the full greatness of its operations or the magnitude of its success ; for during these comparatively sew years of its existence it has paid nearly TEN MILLIONS OF DOLLARS in dividends to policy-holders and losses to the families of deceased members. Its policy-holders now number over FIFTY THOUSAND, being the largest association of mutual life insurers in the world. We do not wonder that its success and popularity are themes of surprise among all underwriters. No unwarrantable or extra-ordinary efforts have been made to secure business, and, except by published reports as required by the laws of the State in which it does business but little advertising has been done

The secret, of their last year s success is secret of their success the succeeding years, to wit : The strictest integrity in all transactions ; careful husbanding of the accrued assets, on account of which only the policies in any company are valuables the utmost simplicity of all its business features and management—not a penny squandered or unnecessarily expended for any purpose ; the investment of money to secure the largest interest and increase ; the closest economy of management in all the various and extended ramifications of its immense interests ; prompt payment of larger . dividends than any other company ever paid ; premiums always at the lowet figure consistent with the highest interests of the Company, and the security and protection of all the policy-holders ; constant personal attention to its affairs on the part of the officers ; immediate payment of every just and well authenticated claim ; prompt attention to the business of every department, never allowing great success to cause carelessness or negligence ; in short, a constant and continued practice of that honest purpose which was looked upon as necessary in the first application for public favor, and which won that favor, and still retains it. These are the secrets, or perhaps we should say causes, as this Company has no secrets, which have made it the soundest and most ably managed Life Insurance Company in this country.

MANAGEMENT OF ITS AFFAIRS.

We have already made some general allusions to this matter, but we desire to say in addition, that we were surprised to find that its immense business, extending over the length and breadth of the United States, covering transactions involving millions of dollars, holding in its treasury a competence for tens of thousands of households, is done at the home office entirely by the officers and ten clerks. Modest and unpretending rooms are engaged for an office, for which an annual rental of only about $1,000 is paid, which, until within a few years, was only $60) per year. Call into this office during any business hour—indeed, almost any hour between eight o'clock in the morning and ten o'clock at night—and you will find the President and Secretary at their respective desks busily engaged with correspondence, signing policies, adjusting claims, &c. There are no sinecure positions held by any one of the employees of this Company ; it is emphatically a working Company, requiring diligent service from every employee, from the President down to the youngest clerk in their employ ; and everything pertaining to the office and its business conducted in that quiet, honest, good, old New England way, so calculated to at once inspire confidence in even the most incredulous. Indeed, the Company is based upon the broad democratic principles of equal rights and privileges. They make no tempting and glittering promises which they neither expect nor have the ability to fulfill, but give you a plain and unvarnished statement of what they have done and accomplished, and ask a candid public to judge of their ability to do in the future by what they have done in the past.

Facts and figures connected with the history of the Company. tell their own story. The first . twelve months of the Company's existence they issued, as we have stated, six hundred and orty-five policies, and from that time to the


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