Previous History of Life Insurance (1867) Next
You are reading a page from History of Life Insurance (1867)
from the The Chicago Republican newspaper on Saturday September 28, 1867
Part of the American Term Life Insurance History Project
Term Life Insurance

 

 

years before the Connecticut Mutual was organized, and, next to the latter, is by far the largest and most powerful life company in the United States. It has done, and is now doing, a truly magnificent business, but, as the following figures will show, not equal to the Connecticut Mutual in amount, nor does it equal it in the skill, prudence, and wisdom displayed'-in management.

Up to January 1, 1867, the time covered by their respective reports, the Connecticut Mutual had three thousand four hundred and fifty - nine more members than the Mutual Life ; $1,251,591 more in amount insured ; a larger surplus by $2,938,726.29 ; received during the year 1866 $340,478.47 more for premiums, and $134,724.28 more from interest on investments ; Paid to its members $152,590.30 more in, dividends. The expenses of management were less than the Mutual Life by $308;080.52 ; its ratio of claims and expenses to receipts were 4 65 per cent. less ; its ratio of expenses to premiums and interest was 5.98 per cent. less.; and ratio of expenses to premiums only 7.02 per cent. less. In one item alone does the Mutual Life exceed the Connecticut Mutual, viz : in amount of assets, in which, it, should be added, are included the reversionary additions to policies, while in the Connecticut Mutual are included only four year dividends. It reported on the first day of January last $5,179,231.58 more than the Connecticut Mutual. This, however, instead of showing any superiority, would seem to militate against it, in the comparison ; for, while the Mutual Life had assets to the amount of $18,495,507.55, and the Connecticut Mutual $13,316,275.97, the latter has a larger number of members, a larger amount insured, receives more for premiums, and, what is a striking fact, more in interest on its assets, or capital ; pays larger dividends, and does its business at a much less ratio of expense. From this remarkable exhibit one might justly infer that, while the Mutual Life piles up its assets, and holds them in its strong safe in the city of New York, the Connecticut Mutual disburses all its profits, available for the purpose, year by year, to its members—to whom they rightfully belong. We mention these facts, not because we do not regard the Mutual Life a sound, safe, and reliable Company, but to prove what we have often asserted in this article,—that the Connecticut Mutual is the very best Life Insurance Company, in all respects, of this age :

No le, wondrous benefactor,

Warm of heart and large of mind, Not in monumental marble

Need thy memory be enshrined ; N o ! it lives in forms more sacred, Living human forms that owe To thy Godlike inspiration

Certain shields from want and woe !"

FINALLY,

we could not do less, after all we have said, than ask the candid attention of every reader of the REPUBLICAN to the matter of life insurance, and to the Connecticut Mutual as a means of effecting it. If God has put into the hearts of men to devise some plan that should ameliorate the misfortunes of their fellow-men, and relieve them from the distress and casualties of His providence, how can it but be our duty to avail ourselves of it ? It is a business of vital importance to every man who has a family, and to every one on whose existence others are dependent. It will not do to wait until stricken by disease, for then it will be too late; if at all, it must be done while in health. Sickness or accident may render you uninsurable before the morrow comes, and the opportunity has passed. If it is worth attending to at all, it is worth your immediate attention. This being a matter in which the public are interested, and the press its source of information, is our excuse for occupying so much space in considering it. What we have written has been with candor and earnestness ; with no motive but to make a correct and truthful record, and we ask that it may be so received by the reader. These statements are


Previous History of Life Insurance (1867) Next