Page:Confederate Veteran volume 01.djvu/212

TO CONFEDERATE VETERANS.

This Will Interest You Personally.

Get a Benefit While You Live.

The National Co-operative Guarantee Company, organized in this city last November, and recently admitted by the Insurance Commissioner as a Mutual Life Insurance Company, is attracting considerable attention just now.

Figuring on the experience of all forms of life insurance, and catching the trend of the co-operative spirit of the times, its projectors have presented a plan that seems to be not only plausible, but in every way practicable. Fur a number of years the Mutual Reserve, Knights of Honor. United Workingmen, and other kindred institutions, have matured their policies and met their obligations with an average assessment of less than $12 per year on the $1,000, while the older forms of life insurance have not only met their obligations, but after paying enormous running expenses have accumulated "reserve" and "surplus" funds that are startling.

The projectors of this new candidate for public favor assume that aside from its actual legitimate running expenses a life insurance company has no need for a sum of money beyond what is needed to pay its death claims, and they declare that all "reserve" and "surplus" should go hack into the hands of the persons from whom it originally came.

This plan opens up possibilities in life insurance not heretofore supposed to exist, and not only gives protection in the case of death, but actually furnishes insurance that may mature in the lifetime of the insured. By its plan the company does not assume enormous speculative risks on the life of any one, but limits its death risk to $1,000 on each life, figured on the basis of 33 years. A person may however, hold as many $1,000 policies as he choses, but in doing so he waives all death claims against the company beyond $1,000, and accepts in lieu his pro rata of the profits that accrue to the company after meeting its death losses. This plan gives the poor man with one policy the same insurance and the same prospect to receive his money while living, that it furnishes the rich man who holds 850,000 by an equitable distribution of the profits that occur from investment. A more equitable and just plan it seems could hardly be conceived, and its workings cannot fail to result well. Though but seven months old, the company has written more than 1,700 policies, paid two death claims and two live men, and its business outlook seems to be unparalleled. No one familiar with the plan will fail to be pleasantly surprised if he gives the matter a little serious thought.

— Schools and summer resorts are advised that the Veteran for July will be a superior medium for advertising — 10,000 copies.

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