Page 2 Advertisements Column 4

Evening Post, Volume XXII, Issue 114, 12 November 1881, Page 2 (Supplement)

A USTRALIAN MUTQAL PROVIDENT X3L SOCIETY. In the Commercial World, for 15th June, we gave a summary of the Directors' Report of this Company and if we refer to it again it is mainly iv order to supplement and perfect a statement then made, whioh we find was short of tho mark. We gave it out as something approaching a business phenomenon, that the throughout its entire career of thirty-two years had paid its claims out of interest receipts alone. This statement is undoubtedly remarkable enough , but it falls far short of the actual achievements of the past year, when, as we now learn, THE INTEREST RECEIPTS XXCtOKDED THE COMBINED PAYMENTS F>R CLAIMS, COMMISSION!, AND hXPH'NSESOF MAN AGEMKNTBV NEARLY J610,000. IF WE ARE NO V MISTAKEN, THIS RESULT IS ENIIRELY UNIQUE IN LIFE ASSURANCE HISTORY. CERTAINLY NOTHING, feO FAR AS WE HAVK OBSERVED, HaS BEKN EXPKRIENCED COM PARABLE TO IT IN THE "OLD COUNTRY," AND IF A PAKALLEL FACT CAN BE PRODUCED FROM ANY OTHER QQARiER WE SHALL BE GLAD TO EMBLAZON IT IN OUR COLUMNS. But this is not all. In Great Britain we have a few companies whose new assurances amount to a million a year. The number may be taunted on the fingers who rise to that amount, while we have a very large proportion, perhaps equal to 90 per cent, of our Companies, to whom such a result is altogether an unhoped-for event. BUT THbJ NEW BUSINESS OF THE AUSTRALIAN MUIUAL WAS FOR .£2,181,285, AN AMOUNT (AS IS TRULY STATED IN THE COMPANY'S ADVERTISEMENTS) "FaR jeXGEEDING THAT • OF ANY OTHER 1,1 PIS AoSURANCK OFFICE IN THE BRITISH DOMINIONS." '] he new annual premium income amounted to while the net increase to the business, alter allowing lor loss of income from terminated policiis, was represented by 3822 policies, assuring .£1,227,613. THIS RhbUi.T, IT Is BiLLlhVk.l), IS UNPARALLELED IN THE HISTORY OF LIFW ASS I RANCE, WHKI'HER IN VHE OLD WORLD. OR IN ANY OTHER Take another fact : the operations of tho year — observe, only the Society's thirty-second year — laised the annual income from .£69 1,233 to an increase in twelve mouths of J>(J5,435, or 9£ per cent, of the i revious year's revenue Agnin, the accumulated fund was increased dming the year by the sum of .£415 713, equal to 87 per cent, of the 'premiums received. These are very remarkable results ; not accounted for solely by the fact that they pertain to the "oldest mutual life office in Australia," or that the average interest received by the Society on its investments exceeds 6 per cent, per aunum. These factors are of importance in the oise, but they would only go a blh rt way if the Society's business was not vigorously pushed. It i^ the untiring activity of <he Society's execatiye that d<'es it; and, as we have often said, activity is the synonym of expenditure. The Society is not sparse in its expenditure. But the results justify the outlay. That is the crowning fact to be borne in mind. WHIIH OF OUR COMPANIES, FOR EXAMPLE, GREAT <-R SMALL, CoMMISSION OR NON-COMMSSION PAYING, C>iN .sHO^V a PRwPOKTION OF INCOME LAID BY DURING THE YEAR OF 87 PH.R CENT. < -F THE GKOSS PREMIUMS KM3EIVKD ? We kuow of none that can do this ; for while we have several Companies whose expenses of management are lighter than the Australian Mutual, we have none, we believe, that can show a layby, after providing for expenses and claims, equal to 87 per cent, of the premium income. Something should also be said in regard to the liberal, not to say enlightened, business principles of the Society. These constitute a series of advantages secured to policy-holders, which are of a nature, it may fairly be presumed, to silence all objectors, and to remove the scruples which many persons profess to entertain against a too exacting system of life assurance. Ihe fcociety's policies contain no co'iditions as to travelling. Members are allowed to travel all ever the world without license or payment of extra premium. A policy is not forfeited through habits of intemperance contracted after the policy is issued, or through being convicted of felony, or by reason of the assnred dyiug by the hands of justice or by buicide, provided, in the latter case, suicide is not committed within thirteen months after the date ot assurance. Policies are endorsed with an admission of age when issued, provided a certificate of birth is produced ; and if that cannot be obtained, the best evidence of age obtainable is accepted. A policy, when the age has been admitted, is free ot all conditions after being five years in torce, provided the life assured has reside within the ordinary limits from the date of the policy, and has attained thirty years of age. And when these conditions have been complied with, a Mutual Provident policy becomes absolutely indisputable and unchallengeable, and the life assured can reside in any part of the world without having to pay any extra premium. And last but not least, indeed the most liberal principle of all, is that the policies of this society, when they have endured threeyears, are kept in force after .they have become overdue by non-payment of premium until the surrender value of the policy is exhausted. And in proof of the fact that this principle operates, and is not a mere flourish of trumpets, it is announced by the Society that at 31st December, 1 880, "the number of policies on which premiums Were in arrear, and which were beinsr continued in force by means of this liberal regulation, amounted to 1804, on which there had been advanced by the Society for payment of premiums (exclusive of interest) the sum of 187." We may add, the Society is not a competitor for- business within the United Kingdom, but it has its reputation to establish. AMD ENGLISHMEN GOING TO AUSTRALIA MAY BY THE FOKEGOING TOKEN--LEARN WHERE THEY CAN FIND AN OFFUE IN WHIOH TO ASSURE OF THE HIGHEST CLASS, AND WORKING UNDH.R THE MOST LIBERAL PRINCIPLES KNOWN TO THE PROFEbSIOiN ANYWHERE IN THE WORLD.— From the London Commercial World, of Ist July 1881. AUSTRALIAN MUTUAL PROVIDENT SOCIEiY. Established 1849. THE OLDEST MUTUAL LIFE OFFICE IN AUSTRALIA. NEW ZEALAND BRANCH: HEAD OFFICE, CUSTOM HOUSE QUAY, WELLINGTON. Local Board op Directors : The Hon. Charles Johnson Pharazyn, M.L.C., Chairman. The Hon. Sir WilliamFitzherbert, K.C.M.G., M.L.C, Deputy-Chairman. A. de B. Brandon, Jieq., M.H.R. Charles J. Johnston, Esq., J.P. The Hon. Morgan S. Grace, M.D., M.L.C.