Snover & Mothersill

jyATIONAL LIFE INSURANCE COMPANY, OF THE UNITED STATES OF AMERICA, "Washington D. C. CIIARTERED % f CASH SPECIAL ACTOFCONGRESS cK'ffiw SWA CA II AL .rtrfy 25tö 1868. gSSJIl $1,000,000. BRANCH OFFICE, PHILADELPHIA. o CLARENCE fl. CLARK, President. JAY COOKE, Chairman Finance & Executive Commiüee. EMERSON W. PEET, Secretary & Actuary. Cash Capital and Accnmulatlons, Jan. 1, 1871, about $1,800,000. Number of Policios Issued in the two years of the Company's Existence, 12,865. Amount of Insurance, $31,650,812. Animal Premiums, $1,178,633.43. CHE LEADING STOOK COMPANY OF THE COUNTRY Whose Distingiiislied Features Are i rnE Stock Plan. ow Rate, All Cash Pkemiitmb. 5l Paid up CAsn Capital of $1,000,000. V Contract, SisirLE, Definite, and Easily Undekstood. V POLICY CONTAINING EvEEYTHINO PkOMISED liT THE CoMPANY, AND FkEE Fkom Unnecessary Restrictions. Applications for Agencies or for Policios may be made lo UF.NERAL AGENTS FOR MICHIGAN, NORTHERN INDIANA AND WESTERN ONTARIO. OFFICE 156 JEFFBRSON AVENUE, DETROIT. With the new year tho Company extends its protoction to its new patrons by issuing a more liberal policy than heretofore, containing fewer restrictions on occupation, re6idence and travel, which is desigued to meet tlie demands of tiie times - Americans being proverbially a traveling peosle. The iii6ured are by its policios permitted to travel or reside in any iiart of the world within the Températe Zones, without the troublesome lecessity of procuring a pertnit, or the imposition of, an extra chargo. - tío restrictions are imposed upon occupations, except upon the few which are recognized as specially hazardous. The new Special Non-Forfeiting features just adopted will still more increase the well known popularity of the National, it is a modification of the Massachusetts Law, but shorn of its disadvantages. A few examples will show the difference between the Massachusetts non-forfeiture law ind the Plan adopted by this Company. By the Massaclmsetts Law a policy, issued at age 45, premiums for life, after 5 annual payments, will reinain in force 4 years and 306 days aiter ;he payments cease ; but the unpiid premiums with interest at 6 per cent. are permitted to ie deducted, f rom tlve policy if it becomes a claim before the expiration of the Term Insurance. By the Special non-forfeiting plan of the National, the same kind of policy at same age, after 5 annual payments, would be exchanged for a oaid up Term Policy extending 4 years and 73 days ; and shoula the injured die before the expiratiou of that time, the f uil amount of the policy would 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 Fornearly 141 years - subject to deductions of unpaia premiums as before stated. Suppose the insnred dies jast before the Term Insuance expires, his premiums, $01.68 (on $1,000) at 6 per cent. int. for 5 years (to the end of ;he ten years) and interest continued till the fourteen years expire, will amount to $560.40, which, deducted from the amount of the policy, will leave $439.60 actual insurance. The same kind of policy, in the National, at tho same age, and costing only $46.45 per $1000 for the ten years, after 5 annual payments, would be exchanged for a paid up Term Policy, for tho f uil ammmt of the original policy, extending nearly 12 yoars. The same Special non-forfeiting features applied to Endowment insnranee, results still more in favor of the policies issued by the National. (See examples of the workings of this plan as applied to Endowments in the Company's Rate Circular.) The foregoing illustrations are based upon cash premiums - the premiums in tho 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 npon the loan plan (varying from 30 por cent to 50 per cent, note) the result would have still fnrther favored tho all-cash, nonparticipating rates of theStock Plan of insurance as practiced by the National ; the outstanding notes, with interest, in addition to the unpaid premiums being deducted from the amount of the policy. In addition to this Special non-forfeiting plan, the National still rotain6 its former plan of non-forfeiture of giving paid-up policies for proportionate amounts of the original policies. Ihc insurer must elect at the time of making hig application, upon which plan of non-forfeiture he will havo his policy written. The choice cannot be made at the time of surrender or change. W. W. WHEDON, and CHAS. E. LATIMER, l306tf -Agents at Ann Arbor.