SURPLUS, as to Policyholders (42 per cent), $2,077,326.65 $230,485.65 Policies issued on all approved plans of Life Insurance, and are non-forfeitable after TWO annual payments. JOHN T. HALL, JR., Assistant Secretary. J. R. NUTTING, Assistant Secretary. S. M. INMAN, M. C. KISER, DIRECTORS: HENRY JACKSON, R. J. LOWRY, T. L. LANGSTON, GEO WINSHIP, INCORPORATED 1865. German Insurance Company FREEPORT, ILLINOIS. Cash Capital,...... $200,000.00 | Liabilities,.... Assets, January, 1893,.................... .2,860,659.00 | Net Surplus,.. .$1,962,769.00 697,890.00 The Mutual Life and Endowment Association OF INDIANA. INCORPORATED FEB., 1882. CHARTER Perpetual. INDIANAPOLIS, IND. FINANCIAL STATEMENT. As Reported to the Auditor of State, December 31, 1892. ASSETS. Loans on Mortgage Security, Interest and Premiums in course of collection.....$318,575.57 Total Assets.... INSURANCE IN FORCE As reported to Auditor of State, December 31, 1891. 857.00 35,355.63 $354,788.20 Policies in force... .4994.. Increase during the year 1892.. 1208. .$1,787,151.84 631,833.00 Death Claims adjusted and due.. The same is deposited in Bank as a special deposit. $113,541.87 10,741.74 373.98 1,998.87 15,718.58 35.355.63 $177,730.67 None $3,000.00 HENRY MALPAS, Secretary. The following will demonstrate the profit on loaning money by the system adopted by this association. To illustrate say-a person aged 35 years, takes a policy of $1,000, he will pay during the 15 years the sum of $576.00, now suppose at the expiration of one year he borrows $500, and bids a premium of 40% and pays six per cent interest on the $500, the premium he bids is not deducted from the amount loaned, but is divided into 168 parts, that being the number of months before the maturity of the loan, so he will pay monthly as The monthly payments being loaned each month and compounded 12 times each year will at the expiration of 14 years produce the sum of $1,809.65. This illustration will show that one loan of $500 will not only pay a $1,000 policy in full, but will leave a balance of $809.65 in the treasury. Thus it will be seen that the vast sums of money accumulated is not obtained by extortion but through a peculiar system of compounding interest and premiums. AGENTS WANTED FOR PENNSYLVANIA. |