Page 4 Advertisements Column 2

Evening Post, Volume XXII, Issue 142, 16 December 1881, Page 4

A USTRALIAN MUTUAL PROVIDENT J\. SOCIETY. In the Commercial World, for 15th June, we gave a summary of the Directors' Report of thia Company, and if we refer to it again it ia mainly in order to aupplement and perfect a statement then made, which wo fiod was short of the mark. We gave it out as something approaching a business phenomenon, that the fcociety 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 post year, when, as we now learn, THE INTEREST RECEIPTS EXCEEDED THE COMBINED PAYMKNTS FOR CLAIMS, COMMISSION, AND FXPENSES OF MANAGEMENT BY NEARLY £10,000. IF WE ARE NOT MISTAKEN, THIS RESULT IS ENTIRELY UNIQUE IN LIFE ASSURANCE HISTORY. CERTAINLY NOTHING, SO FAR AS WE HAVE OBSERVED, HAS BEEN EXPERIENCED COMPARABLE TO JT IN TKE "OLD COUNTRY," AND IF A PARALLEL FACT CAN BE PRODUCED FROM ANY OTHER QUARTER WE SHALL BE GLAD TO EM3LAZON IT IN OUR COLUMNS* But thia ia not all. In Great Britain we have a few companies whoso new assurances amount to a million a year. Tho number may be counted on the fingers who r)S9 to that amount, while wo have a very large proportion, perhapß equal to 90 per cent, of our Companies, to whom such a reault is altogether an Unhoped-for event. BUT THE NEW BUSINESS OF THE AUSTRALIAN MUTUAL WAS FOR. £2,181,285, AN AMOUNT (AS IS TRULY STATED IN THE COMPANY'S ADVERTISEMENTS), "FAR EXCEEDING THAT OF ANY OTHER LIFE ASSURANCE OFFICE IN THE BRITISH DOMINIONS." Ihe new annual premium income amounted to £72,859, while the net inorease to th.c business, alter allowing for losb of income from terminated policies, was represented by 3822 policieß, assuring £1,227,613. THIS RESULT, IT lb BELIEVED, IS UNPARALLELED IN THE HISTORY OF LIFE ASSURANCE, WHETHER IN THE OLD WORLD, OR IN ANY OTHER. Take another fact : the operations of the year— observe, only the Society's thirty-second year — raised the annual income from £694,233 to £759,769, an increase in twelve months of £65,435, or 9£ per cent, of the previous year'B revenue. Again, the accumulated fund was increased during the year by the sum of £445,713, equal to 87 per cent, of the ¦premiums received. . These are very remarkable results; not accounted for eolely by the faot that they pertain to the "oldest mutual life office in Australia," or that the average interest received by the Society on its inveßtmentß exceeds 6 per cent, per annum. These factors are of importance in the caße, but they wonld only go a short way if the Society's buainesa was not vigorously pushed. It ia the untiring activity of the Society's executive that cloes it; and, as we have often said, activity is the aynonym of expenditure. The Society iB not sparae in ita expenditure. Bttu the results, justify the outlay. That is the crowning fact to be borne in mind. WHICH OF OUR COMPANIES, FOB EXAMPLE, GREAT OR SMALL, COM. MISSION OR NON'COMMISBION PAYING, CAN SHOW A PRuPORTION OF INCOME LAID BY DURIKG THE YEAR OF 87 PER CENT. OF THE GROSS PREMIUMS RECEIVED ? We know of none that can do this ; for while we have several Companies whose expenses of management are lighter than tho 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 Bay enlightened, business principles of the Society. These constitute a aeries of advantages secured to policy-holders, which are of a nature, it may fairly be presumed, to silenco all objeotorß, and to remove the scruples which many peraona profeas to entertain against a too exacting system of life assurance. Tho Society's policieß contain no conditions as to travelling. Members are allowed to travel all over the world without license or payment of extra premium. A polioy is not forfeited through habits of intemperance contracted after the policy is issued, or through being convioted of felony, or by reason of the assured dying by the hands of justice or by Buicide, provided, in the latter case, suicide is not committed within thirteen months after the date of assnranco. Policies are endorsed with an admission of age when issued, provided a certificate of birth ia produced ; and if that cannot be obtained, the boat evidence of age obtainable iB accepted. A policy, when the age has been admitted, is free of all conditions after being five years in force, provided the life assured has resided 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 con 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 policieß of this oociety, when they have endured threeyeara, are kept in force after they have become overdue by non-payment of premium until the surrender value of the polioy ia exhausted. And in proof of the faot that this principle operates, and ia not a mere flourish of trumpets, it is announced by the Socioty that at 31st December, 1880, "the number of policiea on which pramiuma were in arrear, and which were beinar continued in force by means of this liberal regulation, amounted to 1804, on which thore had been advanced by the 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 tho United Kingdom, but it has its reputation to establish. AND ENGLISHMEN GOING TO AUSTRALIA MAY BY THE FOREGOING TOKENS LEARN WHERE THEY CAN FIND AN OFFIOE IN WHICH TO ASSURE OF THE HIGHEST CLASS, AND WORKING UNDER THE MOST LIBERAL PRINCIPLES KNOWN TO THE PROFESSION ANYWHERE IN THE WORLD.— From the London Commercial World, of Ist July, 1881. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. Established 18i9. 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 AVilliamFitzherbert, K.C.M.G., M.L.C, Deputy-Chairman. A. de B. Brandon, Esq., M.H.R. Charles J. Johnston, Esq., J.P. The Hon. Morgan S. Grace, M.D., M.L.C. Medical Officer : Dr. W. G. Kemp, M.R.C.S. (Eng.) Resident Secretary : Edward W. Lowe. The results of the thirty-second year's business may be summarised as nnder : — First.— The number of NEW POLICIES issued was 6551. Second.— The NEW ASSURANCE business effected waa for £2,181,258, an amount far exceeding that of any other Life Assurance Office in the British dominions. Third.— Tho NEW 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 iB, it is believed, unparalleled in the history of life assurance. Fifth. — Tho operations of the year raised the ANNUAL INCOME of the Society from £694,283 to £759,768, an increase in the twelve months of £65,455, or 9£ per cont. on the pravious year's revenue. Sixth.— The ACCUMULATED FUND was increased during tho year by the sum of £415,713, equal to 87 per cent, of the gross premiums received. Seventh.— The deaths among lives assured wore 285 in number, causing claims upon tho Socioty for the sum of £121,413, including bonua additions under 261 policies. Eighth.— Tho INTEREST RECEIPTS for the year exceeded the combined payments for claims, commission, and expenses of management by nearly £10,000. ACCUMULATED FUNDS, THREE AND A HALF MILLIONS sterling. Prospectuses, forms of proposal, and all other information may be obtained on application to the Kesident Secretary, or from any of the Society's Agents. EDWARD W. LOWE, Resident Secretary. IMPERIAL LIVERY AND LETTIN& STABLES, And Carriage Factory, Opposite the Victoria Hotel, Abel SmithBtreet, and Branch Stables, opposite the Metropolitan Hotel, Molesworth-street. Carriages, Waggonettes, Cabs, Buggies, and Saddle Horses on hire. Carriages built and repaired, Ac. Horeea shod by a firßt-clasa shoeing smith. 11 orseß broken to double and single harness. Horsos bought and sold on commission. K. SOMERYILLE, Proprietor.