Page 4 Advertisements Column 3

Evening Post, Volume XXII, Issue 120, 19 November 1881, Page 4

A USTE.ALIAN MUTUAL PROVIDENT i J\. SOCIETY. In the Commercial World, for 15th June, we gave a summary of the Directors' Eeport of this Company, and if we refer to it again it is mainly in order to supplement and perfect a statement then made, which wo find was short of the mark. We gave it out as something approaching a buainesß phenomenon, that the Society throughout its en- | tire career of thirty-two years had paid its claims out of interest receipts alone. This statement is undoubtedly remarkable enough, but it falls far Bhort of the actual achievements of the past year, when, aB we now learn, THE INTEKEST RECEIPTS EXCEEDED THE COMBINED PAYMENTS FOR CLAIMS, COMMISSION, AND hXPFNSES OF MANAGEMENT BY NEARLY jBIO,OOO. IF WE ARE NOT MISTAKEN, THIS KESULT IS ENIIBELY UNIQUE IN LIFE ASSURANCE HISTORY. CERTAINLY NOTHING, bO FAE AS WE HAVE OBSEEVED, HAS BEEN EXPKRIENCED COMPARABLE TO IT IN THE "OLD COUNTRY," AND IP A PAKALLEL FACT CAN BE PRODUCED FROM ANY OTHER QUARIER WE SHALL BE GLAD TO EMBLAZON IT IN OUR COLUMNS. But this is not all. Tn Great Britain we have a few companies whose new assurances amount to a million a year. The number may be crunted 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 THK NEW BUSINESS OF THE AUSTRALIAN MUTUAL WAS FOR .£2,181,285, AN AMOUNT (AS IS TRULY STATUD IN" THE COMPANY'S ADVERTISE MENTS), "FAR EXCEEDING THAT OF ANY OTHER LIFE ASSURANCE OFFICE IN THE BRITISH DOMINIONS." The new annual premium income amounted to .€72,859, while the net increase to the business, atter allowing for losa of income from terminated policies, was represented by 3822 policies, assuring .£1,227,643. THIS RESULT, IT Ib BELIEVED, IS UNPARALLELED IN THE HISTORY OF LIFK ASSURANCE, WHRTHEB IN THE OLD WORLD, OR IN ANY OTHER. Take another fact : the operations of tho year — observe, only the Society's thirty-second year — raised the annual income from .£691,233 to .£759,769, an increase in twelve months of .£65,435, or 9^ per cent, of the prenouß year's revenue. Again, the accumulated fund was increased during the year by the sum of 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 oflice in Australia," or that the average interest received by tho Society on its investments exceeds 6 per cent, per annum. These factors are of importance in the case, but they would only go a short way if the Society's bußinoaa was not vigorously pushed. It ia tho untiring activity of tho Society's executive that does it; and, as wo have often said, activity ia the synonym of expenditure. The Society is not sparse in its expenditure. But tho results justify the outlay. That is the crowning fact to be borne in mind. WHICH OF OUR COMPANIES, FOR EXAMPLE, GREAT OR SMALL, COMMISSION OR NON-COMMISSION PAYING, CAN SHOW A PROPORTION OF INCOME LAID BY DURLNG THE YEAE OF 87 PEE CENT. OF THE GKOSS PREMIUMS RECEIVED ? Wo know of none that can do this ; for while we have several Companies whose expenses of management are lighter than the Australian Mutual, wa 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 tho 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 bo presumed, to silence all objectorß, and to remove the scruples which many persons profess to entertain against a too exacting syßtem of life assurance. The Society's policies contain no conditions 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 iB issued, or through being convicted of felony, or by reason of the assured dying by tho hands of justice or by suicide, provided, in the latter case, suicide is not committed within thirteen months after the date of assurance. Policies are endorsed with an admission of age when issned, provided a certificate of birth is produced ; and if that cannot be obtained, the beat evidence of age obtainable is accepted. A policy, when the ago has been admitted, is free of all conditions after being five years in forco, provided the life assured has resided within the ordinary limits from tho 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 absured can reside in any part of tho 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 valuo of the policy is exhausted. And in proof of the fact that thiß principle operates, and is not a mere flourish of trumpets, it is announced by tho Society that at 31st December, 1880, "the number of policies on which premiums were in arrear, and which were beiner continued in forco by means of this liberal regulation, amounted to 1804, on which there had been advanced by tho Society for payment of premiums (exclusive of interest) the sum of .£33, 187." We may add, the Society is not a competitor for business within the United Kingdom, but it has its reputation to establish. AND ENGLISHMEN GOING TO AUSTRALIA MAY BY THE FOKEGOING TOKENS LEAEN WHERE THEY CAN FIND AN OFFIUE IN WHICH TO ASSURE OF THE HIGHEST CLASS, AND WORKING UNDER THE MOST LIBERAL PRINCIPLES KNOWN TO THE PROFESSION ANYWHERE IN THE WORLD.-From tho London Commercial World, of Ist July, 1881. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. 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 William Fitzherbert, K.C.M.G., M.L.C, D«puty-Chairmau. A. de B. Brandon, Kbq., M.H.R. Charles J. Johnston, Ksq., J.P. The Hon. Morgan S. Grace, M.D., M.L.C. Medical Officer : Dr. W. G. Kemp, M.K.C.S. (Eng.) Resident Secretary: Edward W. Lowe. The results of the thirty-second year's business may be summarised as under : — First.— The number of NEW POLICIES issued was 6551. Second.— The NJbW ASSURANCE business effected was for an amount far exceeding that ot: any other Life Assurance Office in the British dominions. Third.— The NtW ANNUAL PREMIUM INCOME amounted to .£72,859. Fourth.— The NET INCREASE to the business, after allowing for loss of income from terminated policies, was represented by 3822 policies, assuring .£1,227,643. This showing ia, it is believed, unparalleled in the history of life assurance. Fifth. — The operations of the year raised tho ANNUAL INCOME of the Society from .£694,283 to .£759,768, an increase in the twelvo monthß of i£65,455, or 9fr per cant, on tho previous year's revenue. Sixth.— The ACCUMULATED FUND was increased during tho year by the sum of .£445,713, equal to 87 per cent, of the gross premiums received. Seventh. — The deaths among lives assured were 285 ia number, causing claims upon the Society for the sum of including bonus additions under 261 policies. Eighth.— The INTEREST RECEIPTS for the year exceeded the combined payments for claimi, commission, and expenses o£ management by nearly ACCUMULAIED FUNDS, THUEB AND A HALF MILLIONS sterling. Prospectuses, forms of proposal, and all other information may be obtained on application to tho Jfcesident Secretary, or from any of the Society's Agents. EDWARD W. LOWE, Resident Secretary. TZ" ING AND HILL, CIVIL ENGINEERS, Licensed and Authoriszd Subteyobs. LAND & COMMISSION AGENTS. Offices.— Evening Post Chambers WillisBtroet, and Feilding, Manawatu. N.B. — Our Scale of Charges is the Lowest in the colony, and .we guarantee be give atisfartaon