AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Greymouth Evening Star, Volume XXXI, 26 October 1901, Page 2

AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

The attention of those contemplating Life Assurance is drawn to the fact that all policies effected in the A.M.P. Society before the close of the year participate in the profits of this year That this is a. substantial inducement will be gleamed from the fact that the amount of cash bonuses distributed 'amongst policy holders in this Society for last year (1900) was JE537.895 (over half a million in hard cash) which yielded Eeversionary bonuses amounting to about JEI,OOO,OOC. Unique experience.—During the 52 years of its existence, the Society has received in interest more than it has been called upon to pay for death claims, and management. This is unparallelled in the history of British Life Assurance. It has paid to widows and other representatives of members in satisfaction of death an matured claims over eleven millions sterling. Its unexampled success has enabled it to *• distribute among its members cash bonuses or dividends amounting .to over nine millions.

Its present distribution of five hundred and forty thousand pounds is a larger amount of profit than has ever been realised or divided in one year by any other Mutual office in the British Empire. Its members, whether participating in profits or not, are especially exempt U'om personal liability. Every element of stability, economy, and profit is found in the constitution and working of this Society. i Surrender values are granted after Policies have endured two years. The surrender values allowed by this Society are larger than those of any other office in the world.

The business is economically managed, the,expen&os being 9 per cent on the total receipts, a rate about seven-tenths that of any other Australian office. The rate of mortality has been remarkably favourable. Having over 161,000 members, carefully selected, the deaths are more likely not to exceed the expected average than if the number was small. The principal sources of profit are the high rate of interest obtained on the accumulated fund of over seventeen mil* lions sterling, and the small percentage that the expenses of management bear to the annual revenue.

The whole profits are equitably divided among the participating policy-holders. Policies are free of all conditions except payment of Premium.

Members may travel all over the world, or reside in any part thereof without per* mission or payment of extra premium. Members may follow any occupation whatever without extra charge after the issue of the policy. Policies are non-forfeitable through omission topay premiums so long as the Surrender value is sufficient to pay one premium. Should death take place while the policy is kept alive out of its Surrender Value, the Society holds itself liable for the sum assured and bonuses, less the amount advanced, with interest. Claims are paid immediately on proof of death and title. Policies remain in force should death occur during the days of grace.