COLONIAL MUTUAL LIFE OFFICE.

Manawatu Standard, Volume XLIV, Issue 1039, 11 June 1924, Page 5

COLONIAL MUTUAL LIFE OFFICE.

A RECORD YEAR. Judging by an announcement in another column, thq Colonial Mutual Life has made remarkable progress since its foundation in 1873. Last year's business constituted a record, both in regard to volume of new business and surplus. Bonuses on whole life and endowment assurance policies in the ordinary department are on a vary generous scale, rangnig from £2 per cent for the first year, up to £6 on policies of longest duration. In the industrial department, 'bonuses are also declared annually, and range from £1 per cent for the first year to £2 on policies which have been ton years in force. The society is purely mutual, and all surpluses belong to the policyholders, who retain the sole control of its management. In furtherance of the mutual idea many liberal features have been introduced by tnc Colonial Mutual, notably the institution of a free nursing service in the main cities, and the distribution of free health literature to industrial policyholders. In the accident department the mutual idea is also the kevnote of the society's policy, and the surplus arising out of each year a operations is distributed annually jn the shape of bonus additions to the benefits conferred by the policies. The Colonial Mutual Life completes the jubilee with an army °f policyholders numbering over 200.000, which is a tribute to its management and an indication of the great part played by life insurance in the complex structure of modern civilisation.