Books › Newark City Directory 1881-82, 1881 › scan 2
Scan 2
Newark City Directory 1881-82, 1881
21 lines. Read by computer on 17 September 2026. No printed page number was found. See the scan on archive.org.
1THE MUTUAL BENEFIT Life Insurance Company, NEWARK, N. J.
3Organized 1845. Charter Perpetual.
4LEWIS C. GROVER, President.
6Receipts for Premiums since Organization, $85,716,455.87.
7Returned to Policy-Holders for Policy Claims and Dividends, $66,587,671.71.
8Balance on Hand January 1st, 1881, $32,953,797.82.
9The Actual Receipts for Interest have been more than enough to pay all Expenses and Taxes by the sum of $13,825,013.66.
11STRICTLY MUTUAL. DIVIDENDS DECLARED ANNUALLY.
13Every Policy issued by this Company contains the following Conditions, and is Absolutely Non-Forfeitable.
15In case of lapse, after two or more Full Years' Premiums have been paid, the full Four Per Cent. Reserve Value will be applied by the Company; at the option of the Assured, in either of two ways: FIRST—To the extension of the full amount of the Insurance, for such period as the full value will pay for at the Company's published rates; or, SECOND—On surrender of the Original Policy within three months from date of lapse, to the purchase of a Paid-up Policy. ILLUSTRATION: A party insures at age 35, for $10,000. He pays his Premiums for 10 years, receiving the large dividends of the Company, and then stops payment. The result will be as follows: FIRST—The whole $10,000 Insurance would be extended for Ten years and Forty-six days; or, SECOND—He would receive a Paid-up Policy for $2,660.
17JAMES B. PEARSON, Vice-President.
18THEODORE MACKNET, Treasurer,
19EDWARD L. DOBBINS, Secretary.
20BLOOMFIELD J. MILLER, Actuary.
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