Snover & Mothersill

V LIFE INSURANCE COMPANY, OF THE UNITED STATES OF AMERICA, "Washington 33. C. CIIARTERED ThLL C A S II SPECIAL ACT OP CONGRESS Tjk-ÊU wS( fl A PTT A T i r la %- al viil JLJLXX.U July 1U 1868. $1,000,000. BRANCH OFFICE, PHILADELPHI A. CLARENCE H. CLAEK, Premient. JAY COOKE, Chairman Finance & Exeoutive Committee. EMERSON W. PEET, Secretary & Actuary. Cash Capital and Accumulatlons, Jan. 1, 1871, about f 1,800,000. Number of Pollcies issued in the two ycars of the Company'i Existence, 12,86ö. Araount of Insurance, $31,650,312. Annual Premiums, $1,178,633.43. THE STOOK COMPANY OF THE COUNTRY Wliose Dlstingiiished Features Are : The Stock Plan. ow Báts, Ai.l Cash Premiums. A Paid up Cash Capital of $1,000,000. A Contkact, Simple, Definite, and Ea8ily Undekstood. A POLICY CoNTAINING EvEEYTHING PkOMISKD KY THE CoMPANY, AND FkEE Fbom Unnecessaky Kestbictions. o Applications for Agencies or for Policlcs may be mde lo OK.NERAL AOKNTS FOR MICHIGAN, NOETIIERN INDIANA AND WESTERN ONTARIO. OFFICE 156 JBFFERSON AVENUE, DETROIT. With the new year the Company extends its protection to its new patrons by issuing a more liberal policy than heretotbre, containing fewer restrictions on occupation, residence and travel, which Is designed to meet the demanda of the times - Americans being proverbially a traveling people. Tlie insured are by its policies permitted to travel or reside in any part of the world within the Températe Zones, without the troublesome necessity of procuring a permit, or the impositiou of an extra charge. - No restrictions are imposea upon occupations, except upon the few which are recognized as 6pecially hazard ous. The new Special Non-Fokfeiting featnres just adopted will still more increa8e 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 and the Plan adopted by this Company. By the Massachusette 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 payments cease ; but the unpaid premiums with. interest at 6 per cent. are permitted to be deducted f rom tlie 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 vaid up Term Policy extending 4 years and 73 days ; and should the injured die before the expiration of that time, the fuU amount of the policy would be paid. In the case of a ten annual payment Ordinary Life policy, issued at age É0, after 5 annual payments the Massachusetts Law gives Term Insurance fornearly 14è years - subject to deductions of unpaid premiums as before stated. Suppose the insured dies just before the Term Insurance expires, bis premiums, $61.68 (on $1,000) at 6 per cent. int. for 5 years (to the end of the ten years) and interest continued till the fourteen years expire, will amount to $560.40, which, deducted from the ainount of the policy, will leave $439.60 actual insurauce. The same kind of policy, in the National, at the samo age, and costing nly $46.45 per $1000 for the ten years, after 5 annual payments, would e exchanged for a paid up Term Policy, for tho f vil ainount of the orig nal policy, extending uearly 12 years. Tho same Special non-forfeiting features applied to Endowment insnrmce, resulta still more in favor of the policios issued by the National. Sec example8 t' the workings of this plaa as applied to Endowments in ;hc Conjpany'fl Kftte Circular.) Tlie foregoing illustrations are 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 result Would have still fnrther favored theall-cash, honparticipating rates of tho Stock Plan of insurance as practiced by the National ; the outstanding notes, with interest, in addition to tho unpaid premiums being deducted frora the araount of the policy. In addition to this Special non-forfeitinar plan, the Natiokal still rotains its former plan of non-forleiture of gtving paid-up policies for proportionate amounts of the original policies. Tho insufer must elect at iko time of making his application, upon which plan of non-forfeiture he wil] liavo his policy writtei}. The choice canuot be made at the time of surrender or change. W. W. WHEOON, and CrïAS. E LATIMËR, A-gente at Ann Arbói