MUTUAL LIFE ASSURANCE SOCIETIES.

Manawatu Times, Volume III, Issue 37, 3 May 1879, Page 2

MUTUAL LIFE ASSURANCE SOCIETIES.

» It is interesting, at f all times, to note the progress of these societies, for life assurance has. now. come to he looked, upon,, as a part of the duty that a' man owes hot* alone 1 to', himself, but also to the State; by saving it; f roni ;the necssity of providing workhouses or benevolent .asylums for. the, succour *pf his children, whc, without the timely precaution; off life assurance,;, would often be left to ;thV tender "mercies 'of benevolent committees, or meet with a perhaps worse fate still in the high ways and byways. Foremost amongst these desirable' institutions stands' pur own OoVerrimeritfLife Insurance Department, which; has grown to astonishing proportions' in- such a short 1 space ■of time since its first inauguration} but next to that; inpur'. opinion—and certainly .before it, in the opinion of a great- many .others^cpmes that veteran Colonial Assurance Society,, and 0ne ...0f which, .all Australians are justly ; prpud-^-the' Australian *Mutual ' Provident Society. When first established, so far back as the year 1849, when Sydney was Hntaainallvtown/ahd Melbourne and .its present beautiftd- ; suburbs* weref little •better sheep-walk, few of the promoter3,'wo" imagine, anticipated the grand results that would accrue from their; efforts ittthe course, of thirtj;year3; ißut.iit.ie not only in the A.ustrahau -Colonies that; a large business is transacted by that Society, for in nearly.ey.ery, part of .New Zealand its localyagents'are not alone evenly 'corupeting with.the'Obverameht^^ ' but'are assuring a larger number of lives in many places. ; ; • yyA-y :•-. Y.y-Y'YY • ' The thirtieth annual report of the Spcie.ty, whichywasj published in ; our ■advertising columns in last issue, must have surprised a good many, {of our readers, as we confess it did pur-elves'. s IW6 foun'd.'on glancing over it,' that -the number of policies issued since the-'establisliment of the .Society .up to the end* of the'year 1878 was- -no less than 46J314, 'aha- 'that '' the total stun :. ■ assured amounted' tp' the »>extrabrdinrry . sum, of £17,570,063* ,»Tbese;fare. [certamly; .figures," as our. American! friends would say, ffpr^a? Society (Of colonial growth, and ; would be 'hard' to, realise 5 , 6y 'sprue folk'ih the'JSld 'Country, - wh' A ;have ah' idea that colonists' musfrbe'convicts'or ■fiHelrdescehdan'ts, and Whoseideas^of New Zealand are soineWhat^ akin :to pur. own -a6But-the' ; ititQ'ri6r >of - Africa, tod, the interesting land of Cetewayo and that inhabited by the Dutch^Boers. r {'Taking a further glance, we^finbTthal; the*- annual revenue, of £heV Socie t ty ; f rdm' premiums ; arid ! - interest au-bunta to £621,958 9s 6dypr bonWTerably . over half' a million. ■ s)uruig!. the twelve Months ending 1 31st Debeiirtber, 1878, no fes^than 8i864 ; proposals' 'were: received by r 'th r e'' Society, for; 'a a total • amounting to ;j83i273,087;.'b«t sp ; firmly^otedihastbe Society ibeconie thatothe task of tfje/assujer 'is ?nb< easy Ymatte-v . as ;rio;i less ibhan 2,655 (proposals -.-were." declined,! r,wj|hctrawn,- /.br not completed, amounting to the .sum, of £1,097,045. The total number of policies {issued for the twelve months^we find .to be . &2gp*ancL ttie Y^^assuropV , ;£2,l7s,9f2. - Claims haW arisen under' _!39'life = policies f by. the »death of 209 membewy and - the 'total", amount'.' ' paid' 'during the ": -twelve months, was '£118,953' 9 ( _v7d, which ; 'included' the 3 hMspm«i L B^ ef £13,2789s 7d for. bonus additions. Sixteen endpwment ' assurances' had m&tmred during; theJ yeay, and, £7,807 .185, including.' £1,757 185,/fpr bSb^sTadditioas, was; paid, tpr. the fortunate owners of thesepoliciesi . ' jje, laecuigulated fund'i'PiE- :the: v Spciety ; npw stands at .£2,619,187. 175 9d, which, shpws auyncreaso ;fcr ,rec'eiptsypver { r t disburßements .for the year of the large siimjof, £3^9395 155,.9c1. We feel; quite; satisfied 'that', these 'figures can speak fbr^, themselves,' and prove' conclusively, ;thaji ihe Socie ty J , has men. at' its hea-Vhe nave .^ extend its usefttaess • »^d jthat.it vnli : conr: tinue to grp^^d'to^prosper in the future, as it ' hiss done' in ''such an extaracrdinafy degree ' in r lhe . past, we have" ; npt the slightest shadow of doubt.. We certainly wish ifc,',_^d~i~l kiriored institutions, th^t large' ni'easure'"< 0f :../Bucceßs;uto. ! ;wJ^phyit---is' entitled from the-publie of these colonies: 1$ /like) the xAlust^ag . jMutpal Provident, do»l"more> towards, ,fc_e Federar tion.of. the Cplpnies, . jthan a hundred, after dinner speechesperannum ffbm^Secretariias •6f)^teOQolpsia^v!&9Ter-^i^ very wbrthv paraonagcs, and w_ trust that it will gbntjinuo .to,.spread.it?. branches inevery town arid every har_let"-ln the whole Austedasian group.. .. t u,. V-i !