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Snover & Mothersill

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LIFE INSURANCE CÖMPANY, Of the UNITED STATES OF AMERÍCA, Washington D. C. CII ARTËRËD ""TÜJl C A S if SPECIAL ACT OF CONGRESS tó w3Sw'AA (j A I I I A I J m 25ÍÁ 1868. TlIX $lOOO,OOOi BRANCH OFFICE, PHILADELPHIA. CLAliÈKCE II. CLARK, PreeidenL JAY COOKE, Chairman FinanceÁ Eixcutiiie Cotttinittee. EMERSON W. PEET, Sccretary & Actuary. Cash Capital an.l Accumulatlous, Jan. 1, 1871, about $1 ,800,000! Nuinber of Pollcles issued iu the two ye&fs of the Company's Exlttteuce, 12,865. Amount of Insurance, f31, 050,312. Anniial Premiums, $ 1,178,003 48. THE STOCK OOMPANY OF THE OOÏÏNTRY Whoss Distingufelieil Features Are t The Stock Plas. ow Rate, All Cash Prkíiicíts. A Paid tp Cash Capital of $1,000,000. A Contract, SiMfiiE Deíinite, aíío Easily UkdeestooOí A POLICT CONTAIXING EtEÜTÍHIÜG PrOÍÍÍSEÜ tit TIÍK CtÍIPAÍft, ANO FkKE FkOM UNNECE8SARY Ke6TRICTIOS8. Applications for Agencies or for Policics may bc made lo MICHIGAN, NORTHERN INDIANA AND WESTERN ONTARIO. ornan 156 jefferson avenue, Detroit. With the new ycar the Company extends its protection to its new pairons by isstiing a more liberal policy than heretofore, containing fewer reBtrictions on occuimtion, residence and travel, which is designed to meet the deinands of the times - Americans being proverbially a traveling people. The ineured are by its policios pemrittea to travel ot reside in any part of the world within the Températe Zones, without the tronblesonie necesalty of procuring a pennit, or the imposition of an extra charge. - No restrictions are impo6ed upon occnpations, except upon the few which are recognized as specially hazardous. The new Special Non-Fokfeiting foatnres just adopted will still more increase the Well known ponularity ot" the National. It is a modifícation of the Massacliusetts Law, Düt shorn of its disadvantages. A few examples will show the difFerence between the Massaclmsetts non-forfeiture law and the Plan adopted by this Company. By the MassacluiBetts Law a policy, issued at age 45, premiums for life, after 5 annual payments, will remain in force 4 years and 306 days alter the payinonts cease ; but the ixnpzid premiums aoith interest at 6 per cent. are permittcd to be deductcd from tlie policy if it becomes a claim before the espiration of the Term Insnrance. By the Special non-forfeiting plan of the National, the samo kind of policy at 8arab age, after 5 annual payments, would be exchanged for a paid up Term Policy extending 4 years and 73 days ; and should the insured die before the expiration of that time, the futt amount of the policy Would be paidt In the case of a ten annual paviueht Ordinary Life policy, iseued at age 40, after 5 annual payments the Massachusetts Law gives Term Insurance fornearly 14J years - subject to deductions of unpaid premiums as before 6tated. Suppose the insured dies jast boibre the Term Insurance expires hls premiums, $01.68 (on 1,000) at (5 per cent. int. for 5 years (to the end of the ten years) and interest continued till the fourteen years espire, will amount to $560.40, which, deductol from the amount of the policy, will leavc $439.60 actual insurance. The same kind of policy, in the National, at the same age, and costing only $46.45 per $1000 for the ten years, after 5 annual paymente, would be exchangea for a paid up Term Policy, for the full amount of the original policy, extending nearly 12 years. The same Special non-forfeiting features applied to Endowment insurance, results still more in íávor of the policies issued by the Natíoíial. (Sec examples of the workings of this plan as applied to Endowmente in the Company's Kate Circular.) The foregoing illustrations nre based upon cash premiums - the premiums in the National are always cash ; most of the Massachusetts Companies allow a choice of all cash or part note or loan. Had the illustrations been calculated upon the loan plan (varying from 30 per cent. to 50 per cent note) the ros uit would have still fnrther favored the sll-cash, nonnarticipating rates of the Stock Plan of insurance as practiced bv the National ; the outstanding notes, with interest, in addition to the unpaid premiums being deducted frora the amount of the policy. In addition to this Special non-forfeitina plan, the Natiomai, still rotains its formor plan of non-forfeiture of giviner paid-up policies for proportionate amounts of the original policies. The insurer raust elect at the time of inaking his application, upon which plan of non-forfeiture he will have his policy written. The choice cannot be made at the time of surrendcr or change. W. W. WHEDON, and CHAS. E. LATIMER, 13Q6H Agents at Arm Arbor.


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Michigan Argus