Snover & Mothersill

LIFE INSURANCE COMPANY, OF TH E UNITED STATES OF AMERICA, "Washington 33. C CIIARTERED "'TBX CASH SPECIAL ACT OF CONGRESO Ósállk MsdJ&ÉmX , A P I I AL .uty 25Á 1868. 4 "J $1,000,000. BRAN!H OFFIOt, PHILADELPHIA, OLARENCE H. CLARK, Premdent, JAY COOKE, Chairman Finance & Executive CommitUe, EMERSON W. PEET, Sccretary & Acluary. Cash Capital and Accumulailutis, Jan. 1, 1871, about $1,800,000. Number of Pullcies issued in the two vears of tbe Company'i Kxlstenc, 12,800, Amount of Insurance, $31,650,312. Annual Premiums, $1,178,038 43. THE LEADING STOOK COMPAN? OF THE COUNTRY Vhos8 Dlstinguisli'ed Features Are i ?iie Stock Plajj. ow Ratk, All Casu Pkesiiums. i Paid up Cash Capital of $1,000,000. &. Contract, Simple, Definite, axd Easily Undkestooíd. . POLIOY CONTAIXINO EvEKYTHING PeoüISED BT THK CoMPANY, AKD FkKB Fkom Unnecessaky Rbstkictions. Applications for Agencies or ior Pollcies majr bc made U ORNEIIAL AQKNTS FOB UÍCÍIÍGAN, NORTHERN INDIANA AND WESTERN ONTARIO. OFFICE 156 JEFFBRSON AVENUE, DETROIT. i With the new year the Company extends ite protoction to its new patons by issuing a inore liberal policy than heretotbre, containing fewer rO trictions on occupation, resideuee and travel, which is designed to meet ie demande of the times - Americans being proverbially a traveling peo)le. The insured are by ite policiee permitted to travel or resVde in any art of the world within the Températe Zones, without the troubleeoiue lecessity of procuring a permit, or the iinpositum of an extra charge. íío re6trictiori8 are im posea upon occupations, except upon the few which re recognized a6 epecially hazard ous. The new Special Non-Forfeiting features just adopted will still more ncrease the well known popularity of tlie National. It is a modification f the Massachusetts Law, but shorn of its disadvantages. A few exainles will show the differeuce between the Massachusetts non-forfeiture law nd tho Plan adopted by this Company. By the Massachusetts Law a policy, issued at age 45, premiums for life, fter 5 annual payments, will remain in forcé 4 years and 306 days after lie payments cease ; but the unpaid premiums with interest at 6 per ent. arepermiücd to be deducted f rom the policy if it becomes a clftim jefore the expiration of the Term Insurance. By the Special non-forfeiting plan of the National, the eame kind of jolicy at sanit age, after 5 annual payments, would be exchanged for a jaid up Term Policy extending 4 years and 73 days ; and should the inured die before the expiration of that time, the fuü amount of tho pölicy vould be paid. In the case of a ten annual payment Ordinary Life policy, issued at age 40, after 5 annual payments the Massachusetts Law gives Term Insurance tórnearly 14J years - subject to deductions of unpaid premiums as before statcd. Suppose the insured dies just before the Term Insurance expires, his premiums, 861.68 (on $1,000) at 6 per cent. int. for 5 yeare (to the end of the ten years) and interest continued till the fourteen years expire, wili amount to $560.40, which, deducted from the amount of the policy, wil! leave $439.60 actual insuralice. The same kind of policy, in thé National, at the same age, and costina only $46.45 per $1000 for the ten years, after 5 annual payments, woulS be exchanged for a paid up Term Policy, for tho f uil amount of the original policy, extending nearly 12 years. The same Special non-forfeiting features applied to Endowment insurance, results still more in iavor of the policies issued by the National(See examples of the workings of thÍ6 plan as applied to Endowments in the Company's Rate Circular.) The foregoing illustrations are based upon cash premiums the premiums in the National are always cash ; most of the Massachusetts Conipanies allow a choice of all cash or part note or loan. Had the illustrations been oalculated upon the loan plan (varying from 30 per cent. to 50 per cent note) the result would havo still fnrther 'favored the all-cash, nonpartieipating rates of the Stock Plan of insurauce as practiced by the National ; the outstanding notes, with interest, in addilion to the unpaid premiums being deducted from the amount of the policy. In addition to this Speoial non-forfeitine plan, the Nattojtal still retaint ite forracr plan of non-forfeiture of giving paid-up policies for proportionate ainounte of the original policies. The insurer must elect at the time of making his applicdtion, upon which plan of non-forfeiturc he will have his policy written. The choice cannot be made at the time of eurrender or change. W. W. WHEDON, and CHAS. E, LATIMER, i30Ctt -Agents at Ann Arbor;