Judge — December 1887 — page 40: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

CHRISTMAS JUDGE he {Weekly Statement. ISSUED BY THE MUTUAL LIFE INSURANCE COMPANY OF NEW YORK, RICHARD A. MCCURDY, PRESIDENT. c Insurance Company of New York. Vol. V_ No.17 Office: Nassau, Cedar and Liberty Streets. December 7, 1887. THE DIVIDENDS MORE THAN PAY THE PREMIUMS And leave a Large Balance to the Credit of the Insured—Results that no Company in the World can Equal—Information that must Startle the Policy-holders in other Companies. We published in detail the remarkable results achieved under Policy 1,427, which became a claim and wae paid last week. It was issued on the life of the late Elisha D. Whitney, of Philadelphia, in 1845, and was the oldest policy on the books of the Pennsylvania General Agency. The face of the policy was $8,000. ‘The premiums for the last 18 years were paid out of the dividends, and yet the dividends remaining in the hands of the Mutual were sufficient to increase the amount due on the policy at maturity to $17,448. In explanation of the following table it may be said that the first column of figures under the heading “ Dividends” shows the cash dividends declared at the dates given; and the second column under the same heading the value of such cash dividends when converted into additional insurance. The first column under the heading “Surrenders” shows the amount of cash dividends surrendered to the company for the purpose of paying premiums, and the second column under the same heading gives the value of such cash surrenders in additional insurance. Up to 1870 the insured paid his annual premium of $256 in full each year, and then had cash dividends to his credit amounting to $4,760.42. ‘The equivalent in additional insurance of these cash dividends was $7,972.91. In other words, if his policy of $8,000 had then become a claim the amount paid by the Mutual would have been $8,000 plus $7,972.91—$15,972.91. In 1870 he began to use his dividends to pay the premium. The dividend due him that year was $322. in cash or $491.74 in additional insurance. He used, or ‘‘ Surrendered ” just enough of that dividend to pay his premium, viz: $256 in cash, or $390.41 in additional insurance. Since that time the policy-holder has paid no premium, surrendering each year enough of his dividend to pay the premium. As the amount of additional insurance that a given sum of money will purchase decreases with advancing years, it will be seen that while the cash surrenders are the same each year the additional insurance surrendered becomes less annually. After paying the premiums for 18 years, out of the dividends, there remained at the maturity of the policy $9,310 of additions, the post mortem dividend was $138 and the claim paid by the Mutual was $17,448, on an insurance policy of $3,000. POLICY Ne. 1,427. Amount, $8,000. Annual premium, $256. Issued June 2d, 1845. Age 40. —_ Life Poli DIVIDENDS. | SURRENDERS. DIVIDENDS. SURRENDERS. Date: cash. | Adattions || cash. | Additions Date cash. | Additions | Additions, 1848 | * $256 1876 | $343 03 5 $340 48 1853 426 | “ 336 00 1858 4 Adjust, 1863 1866 $256 00] $390 41 |} 256 00 | 382 86 256.00) 375 45 | 464 25 || 1873] 256 00] ‘368 79 | — 409 78 | 1874) 256 00 362 24 ¥ | 15,285 16 324 54 442 37 | 1875) 256 00 348 93 |i) Balance of Additions. . ‘ . ; vss $9,310 00 138 0 Post Mortem dividend....... 0 Original Policy : ceric he 8,000 00, Total Claim Paid .. $17.48 00 comicbooks.com