THE A.M.P. SOCIETY

Dominion, Volume 8, Issue 2502, 1 July 1915, Page 7

THE A.M.P. SOCIETY

DIVIDES £1,026,139 CASH IN BONUSES FOR ONE YEAR AN EPOCH IN TH.I 3 HISTORY OF A SUCCESSFUL INSTITUTION. To-day the members of this society have had posted to them their bonus certificates iMiniating the amount of reversionary bonus added to their policies, and as the amount of cash distributed exceeds 41,000,000, the occasion is one which calls for comment. The society is now in its sixty-sixth year, and its wonderfully successful career has been marked by a series of successes practically ever since its inception, till ito-day we find its directors able to claim for it that it is the greatest financial institution in Australasia, and. the largest, wealthiest, and most prosperous mutual life assurance society in the British Empire. Very gratifying to policy holders must be the intimation that there is not the slightest indication of this successful career diminishing; that on the contrary, members may with all confidence look forward to increased successes. During the past two years in. addition to the enormous amounts distributed in bonuses (.£2,002,020) the reserves have been increased by over a quarter of a million Sterling, and as practically three-fourths of all the policies are now valued at 3 per cent., a very few years at this rate will see the 3 per cent, rate applied to the whole business, which means a huge bonus fund.

To know that this society has been able to return to members in bonuses for ene year alone 39.6 per cent, of the total premiums paid during the year, and to have the additional intimation that a still higher return may be confidently looked forward to is rery fine indeed. Nor does the gcod work of the A.M.P. end here. For although it confined its operations to ordinary department business exclusively for 56 years, it has since embraced the industrial department business, and thereby extended its operations to all classes of, the. community. Thait this department is a strong and vigorous branch of the parent tree is illustrated in the fact that its rnembeiship numbers over 121,054 policies, assuring over ~£4,212,931. Its progress has been'remarkable; in fact, it might be said to be more successful, than was every anticipated, inasmuch as its achievements are unique in the history of industrial life insurance. The progressive administration gives a clear indication that every opportunity will be seized to liberalise the policy contracts. Already, in addition to declaring a substantial bonus for the year, every life policy of 10 years' duration, the holder of which has reached the age of 75, ceases to pay premiums, but still continues to share in the profits; and in a new infantile policy just being issued the society enfourages the thrifty, by giving a substantial endowment payable at 35, 40, or 45, with the return of all premiums paid, plus interest at i per cent, if deat]f takes place before age'2l; after that age 'the full insurance is entered upon. This policy furnishes a distinct gain from start to finish, and provides an absolutely certain cover from 21 to maturity, making the possession of an insurance cover a possibility when under ordinary circunistances through personal health or family history, it might be impossible to obtain. The members and the management of this great institution are to be congratulated on the position disclosed. Truly were thy foundations laid, 1 Great monument of mutual aid.