oo TEL.IGr&>- Dfx ||f%^^. £i &£m4 , ^/Tfef 'g$K^*2?%^*£^<e»r WCK, l.v Hie Nt» York Life Il.iiin.iire L Vom^nv i«H.e ClerYi Office of I be District Court of toe llnile.l Sc.te.. for I lie Sou.he.n^ Jni.lrirl'ofNew Yo.k. S V5EV— ,vx>^y »^?-\dji>'V —Vj&rf 5-ts &$' ^f **/Z^^J& wy*»ffi 5S ^ ^ D r TJRirjS'a'SE; MORRIS FRANKLIN, President of the New- York Life Insurance Company. DA VID DO WS, David Dows <5^ Co., Flour Merchants, No. 20 South Street. ISAAC C. KENDALL, Trinity Building, No. Ill Broadway. DANIEL S. MILLER, Late Dater, Miller &» Co., Grocers. JOHN M AIRS, Merchant, No. 20 South Street. WM. H. APPLETON. D. Applcton &• Co., Publishers, Nos. 540 £7*331 Broadway. ROBERT B. COLLINS, Collins & Brother, Stationers, No. 370 Broadway. WILLIAM BARTON, Banker, No. 33 Wall Street. WM. A. BOOTH, Bo.ith &> Edgar, No. too Wall Street. GEORGE A. OSGOOD, Banker, No. 21 East roth Street. ^ // KNR Y BO WERS, T Yon kers. EDWARD MARTIN, E. Martin & Son, Provisions, No. 6 Bowling Green. CORNELIUS R. BOGERT, M. D., L Physician. No. 8 St. Mark's Place. yj. F. SEYMOUR, J. F. Seymour &■> Co., China, J& Warren Street. H. B. CLAFL1N, H. B. Clafiin & Co., Dry Goods, cor. Church &■ Worth Sts. WILLIAM II. BEERS, 1 Vice-Presidentand Actuary oj the N. Y. Life Insurance Co. LOOM IS L. WHITE, . Banker, Wall Street. JOHN M. FURMAN, President Farragut Fire Insurance Company. . CHAS. WRIGHT, M. D., No. log East 26th Street. MORRIS FRANKLIN, President. WILLIAM H. BEERS, V. Pres't and Actuary. THEO. M. BANTA, Cashier. D. O'DELL, Superintendent of Agencies. CORNELIUS R. BOGERT, M.D., Medical Examiner. ) CHAS. WRIGHT, M. D., Assistant Medical Examiner. °rf tye. m 1v W_______g^%>--_______£ ^ --g^^' TIP C 1 .9 f. <$' 5^ j3»-e*-- We live in a progressive age ; the world is teeming with new discoveries; the arts and sciences are ' advancing in rapid strides; the march of improve- ) ment is onward toward the goal of perfection ; and " man hath sought out many inventions" to benefit' his creature man. There probably has never been a period within the history of the world in which so much has been done to benefit and ameliorate the condition of the human family, as is being done at the present age. Every year gives birth to new associations, the objects of which are the promotion of human happi- ^ness. It is the theme of all societies ; all advocate charity, and claim to be philanthropists Aside/" from that divine organization, the Church, there are innumerable benevolent associations, from nearly all classes, the designs of which are to better pro- tect mankind and extend the fostering care of friend- ^ ship to the helpless and needy. Indeed, it is the boasted object of all free, civil and religious institu- tions to elevate all classes to a standard of equality, so far as relates to opportunities for acquiring knowledge and the necessary competence of this world's goods—of which every one is considered to , ^| liave (without reference to birth) a natural right to •* as much as shall, at least, place him above want find suffering. And the most potent of these benevolent associa- tions is that of Life Insurance, which has saved from suffering and want many thousands who now bless the provident hand that, while living, made ^a. V'K' necessary preparation for their maintenance in, ^L ^'anticipation of their decease. When this shall be-^l^c. ---Sr, %■%■ £ <•<.$%►■■"-\sV T^fspT' x#*/-.7''-*i% \y ) (j ' .\'H■'• I ?§ i / -ft*. UP" -ft** ^^---%?X. -^WA'-.-^ ./' force of gravitation, water seeks its own level—or bv th(^ application of heat, it is converted into vapor —or by the abstraction of heat, into ice; the earth turns upon its own axis; the sun rises in the east ; crystals assume certain forms in particular salts, ; which never vary, &c. So, in the calculations for Life Insurance, which are based upon the laws of mortality, obtained from observations in various parts of the world for the last two hundred years. >From these are deduced the expectation of life, and tables are formed from which wo can learn the aver- age of expected life at any age. As, for instance, we learn that 1,000 persons, at the age of 25. will yet live to average about 37 £ years each ; at the age ^ ( of about 30, about 34A ; and at the age of 35, just 31 years each; and so on. Now, these facts are found to be as certain and as fixed a law, as any other before mentioned. Observations in Paris, London. Carlisle, Northampton, and this country, made by the most experienced actuaries, obtain (within a fraction) the same results. Having these tables before us from which we can adduce the average of expected life at any age, we have only to charge each individual that sum which, in the number of yours he i- expectedtolive, willjustamountto the sum for which he insures. It matters not if the first of 1,000 should decease the first year, the next one may live twice the expected term, and the whole are certain to %rZ 'j£& #sum tor wnich they are all insured. .Now, as the^ ^make as many payments as will amount to the wholej ^sum for winch they are all insured. Now, as the^ » JVen*- York Life Insurance Company. 9 premiums for insuring on life are based upon these facts, together with the experience of many years, they cannot fail to render a Life Policy a sure resource when death occurs. So that Life Insurance may be truly said to be a matter of certainty. n ct« Itlncertaint^ of other Insurance. In fire risks there can be no certain data for calculations. We cannot tell how many buildings may burn in a year or a given number of years, and the best of calculations are but a hazard, the result of guess work, a mere chance affair; and that may be said of all other insurances, excepting life. All other risks are uncertain, even after many years >But the cessation of life is certain; death is sure to ^come. / Again, a fire may consume but a part, or any other loss may be but a partial one. But in Life Insurance, death takes the whole; there are no savings; the loss is a complete one. And all calculations are based upon these certainties. Consequently, no life company can ever fail where its affairs are managed with integrity and competent ability. Accumulations. But there are other considerations in Life Insurance, aside from the stipulated sum for which each one insures, viz: the accumulations. All money paid in, except what is necessary to meet Lcurrent expenses and losses, is invested in State or [ ^United States Stocks, or loaned on bond and mort-^; - ^_______->, r s- _ -> -vg*! m sjjwal^ *)10 .Yetr-Tork Life Insurance Company. gage on real estate worth 50 per cent, more than the amount of the sum loaned. These investments, of course, are drawing interest, which interest is again reloanod, making an investment at compound interest These interests are an accumulation to the benefit of the company, which in a few years, 1 in a successful one, whose expenses are proportion- ate to their business, amounts to a large sum To give an idea of the gains of compound interest, $20 invested yearly, commencing at birth and remaining untouched, amounts, at the age of 30, to *l,550; at the age of 40, to #3.0! 1,1; and at the age of 00. to the enormous sum of sMMitiO Twenty dollars a year for sixty year- is only an investment in principal of s 1,200; yet, with the compound interest, it amounts to nearly nine times the whole sum invested. Biuibenbs. a All accumulations above losses and expenses, in proprietary or stock companies, go to the stock- holders; but in the mutual companies, they are divided equally among the life members, in proportion to the amount of their respective premiums In a purely stock company, the friends of the insured get only the amount of the policy. The accumula- * tions and savings of these companies in time become (|uite large, and the parties interested in the stock (not the insured) realize great incomes, which, in reality, properly belong to and should be paid to the insured, who have invested their money. This is the case in all well-regulated Mutual Life Com- panies, which are i...,/ having the preference in ^-public opinion over fill others. '■J a^y+fo^J^S ^-Vj^afe^v^ r*$r^™5Q& & JYew-2'ork Life Insurance Company. 11 Aboantaqes of the Mutual System. K 9\ u ^P" One of tho oldest mutual companies is that of the " Kquitable Society for Assurance, of London." This has been in successful operation for about 100 ^ ' years, and many cases of large profits accruing to ' % the assured are reported by the company, showing ) the practical advantage of the insured participating in the net profits of the business. Chambers' Journal, in a very able article on tho subject of Life Assurance, states that "after a careful examination of the two plans, (stock and mutual,) with some benefit from practical experi- ence, we do not hesitate to declare our conviction that the mutual system is the only one which the public at large are concerned to supports Of t/io STOCK system," tho same author remarks, that, $3r "m one instance under our immediate notice, ten/*|;*~& thousand pounds ofpaid up capital now stand, after seventeen, years' business, at the value of £70,000 in the stock market, being 600 per cent, of premium. What is it that has so much increased its value? ^^ Ouh/ those surplusages of payment by the public which in a mutual office would all come back to the assured." "In. fine, the system of mutual as- surance, 'pure and undefilcd,' is that which the public should, for its oion sake, and partly for the \ sake of morality also, support. It is an institution , contemplating unmixed good to mankind." Professor De Morgan, one of the best authors on Life Assurance, observes, (immediately after giving an opinion in favor of tho mutual system as contrasted vith the stock,) "that there is nothing in the commercial world which approaches, even remote- ly, to the security of a well established and prudently Linanage(i Life Insurance Company." V^.* *fr & ■V] Eg * f «4t/ -ft it* ^ .1^ (12 J\°e*--1'orA Life Insurance Company. Who should Insure. With this description and reliability of Life Insurance, lotus consider more in detail its especial - object. Who should avail themselves of these insti- , ^ tutions? We answer all, both rich and poor; all ' classes and denominations ; the clergyman, tho lay- ) man, the lawyer, tho doctor, tho merchant and mechanic, the farmer and laborer. Every one who has a family or friends dependent on him for support, should effect an insuranco upon his life for their benefit in case of decease. The rich should do it, because: First,—they have the means to provide a certainty against the chances of fortune, which often givo to riches wings, and they fly away in an unlooked-for hour, leaving those who fancied them- selves secure against want, but only paupers, when ^death takes from them their provider and protector £ viz.: a husband and father. Secondly, because they cannot invest their funds in a more sure and profitable manner, with a greater certainty of a safe f return, with interest, than in Life Insuranco. The poor man should do it, because, however small the income, a little: can be invested for the future want of those who otherwise are to be left destitute when he comes to die! A reality which is sure, at no distant day, to happen. The professional man should do it, because, though in life and health, with his practice, ho finds a ready means of support and education for his family, perhaps of surrounding them with the refine -jj ments and luxuries of wealth, yet death too often \ takes the whole, and those who have never known a care, are left to penury and want. The man, professional or non-professional, who is ^dependent upon a salary for a sustenance, shouhlj $/lo it,—because with life the income ceases, and u< H &%*v' ^""^$3$;' 'st** :^W, -Yew- York Life Insurance Company, 13 1 •*$, J2i* the loss of a husband and father may be added dependence upon heartless relations, and exposure to insult and poverty. This is particularly obligatory upon clergymen, who, with a limited salary and closest economy are only enabled to sustain themselves respectably, with ' scarce a thought or possibility of providing a future competency for their families, when they shall have ) been called to render up an account of their stew- ardship. Indeed, we hold it to be a duty of every ' church to provide a life policy for their pastor, or at least to add to his salary beyond his immediate wants a sum enabling him to do it. The merchant should do it, because of all classes there are none more exposed to the changes and vicissitudes of fortune than ho—though rich to-day, to-morrow poverty may stare him in the face; ^though apparently independent, yet should death^ -"suddenly come upon him, his executors would scarce _ £nd enough to meet his obligations, after forced sales, and the usual sacrifices attending the closing- up of business. General Dearborn, for many years collector of ^ the port of Boston, said in a public address: After an extensive acquaintance with business men, I am satisfied that among one hundred merchants and tra- ders, that not more than three ever acquire indepen- dence" \ Another Boston writer says, that the statement , made by General Dearborn, so startling and appal- ling, induced an examination with much care, which proved it to be true; and that an examination of a memorandum made in 1800, of every person on Long Wharf, compared with a similar one made in 1840, showed only five in a hundred remaining; the the rest having failed, or died insolvent. I The young man should insure for his own, his J,. ^parents', his sister's benefit, which he can readily^. iSS?^*^-^ ,-J&W&. /**- >**$" V ■r^T *) I I .1 «•»•-? o/vC* /./yi" Insurance Company. (• change, if he choose.-, to the benefit of a wife, or ' j wife and children, when he shall come to have them. without any increase of yearly premium. ) The man with incumbrances upon his propci-tv ; should insure to the full amount of it, lo enable hi- I t imily. in case of decease, a ready means to met t. all payments, find secure to them a comfortable home. i Creditor- should insure the life of debtors, as the i means of securing the ultimate payment of doubtful debts. A policy of Life Insuranco is also applicable as collateral security, when credit is to be obtained. or money borrowed. Objections to ILtfe Insurance Answered. W &>-\ '»>-. ,'iK > First. It is stated that if tho same sum that is expended yearly in Life Insurance were placed in i\( Savings Bank, or put out at interest, it would in n" few years amount to as much as an insurance policy. We readily grant this fact, but in reply would ask, what surety is there that a man will live nfcir years, or the term of his expected life even .' Or, again, what surety is then! that ho will put out this stipu- lated sum at interest, yearly ? Pnst experience, at least, teaches that but a few men do it; the 10 000 widows and orphans in our midst, give evidence to the fact that it has not been done but in a few instances. Suppose a person at twent v-fivo vcars of' age, whose premium on £1.000 would be £i0.-10 a year, should put this sum out at interest, at the end of one year, if he should decease, his family gets barely 820.40, with interest added, making $2I~2 only, whereas from a life policy they would g< t i £1,000, with his proportions of the accumulations. , j Secondly. It is objected that it is a kind of lottery J j^^orj-pecies of gambling : that to make it a successful^ %£. ''&k^' V." ■:•• ' ' {.^.•V^- ",. - - ■ ■£*.'. K'fsii'r ■-4-.*'S ,'-is *"<*■ ~v &,'j., m I ^**s ^A%mu^ r^-^-^w A'en- York Life Insurance Company. % investment, an early death is necessary, dee I»ut this is a great mistake, and is only made by those who know nothing of the principles of Life Insur- ance. There is no gambling about it—there i.- even far less chanco in it than in the ordinary business of life. As has been before stilted, the expectation of life at every ago is known, and each man i.-s charged that sum per year which, in the given number of years he is expected to live, will amount to the sum for which he insures, which his family ' ^ <> receives at his death, together with the accumula- tions. If he dies soon, they then get simply tho sum for which he insures, with a small accumula- tion. If he lives beyond the expected term of life, they get the amount of his policy, together with the addition of a large amount of accumulations; and he who lives to pay tho most will receive the most It is, in reality, a more equal distribution of proper-, ty, according to the expectation of life. Thirdly. It is objected to, on the grounds that it is profiting in the death of a husband or father. Henco we often hear of the superstitious idea that " Life Insurance is the price of blood." This of \^ course arises from ignorance, as precisely the same objection would lie against any and every sort of provision made for the family in anticipation of death! Even the detail of property finds in it the same objection; yet we never hear that these- [ squeamish persons ever refuse a dowry, a legacy, £& or heirship. Tho truth is, that Life Insurance is simply set- ting aside and investing a yearly sum, with the certainty of a safe return with accumulations; whereas other investments, with a profitable and sure return, are not so easily found, and often end in an entire loss. L It is an association formed by individuals, who y^ ■/unite together, under a contract, to support each^jj^ if'-Jrl •■-'■'"N KS1 &&&**■" ***- " "VmW ^^ '"*»*$ r___<~_____=v__-j^z .*<&y ^^^— N&P ^ V.-g! l&g*^*cs . MW&. /#->«*$& $4 ij.Viti .V(?«- lork I.i/e Insurance Company J ■rtfT ^' other's families in case of death. In order to accomplish this, it becomes necessary to establish a fund, which is done by a yearly contribution, duly apportioned among them, according to their expectation of life, and the amount to be received . by the family at each one's decease. , * Fourthly, and lastly. It is objected to on the' grounds that it is distrusting the goodness of I'roc- ) idrnrr. And the hypocritical pharisoe, who is too supremely selfish to deny himself the indulgence of some unnecessary and perhaps filthy habit, in order to provide his wife and children against want, offers as an apology for his. conduct his trust in Providence, as if Providence would smile upon or countenance such blasphemy. Such a trust is sure to end in disappointment. In the language of a celebrated divine, "What &* )nSnt has a Inan to trust *° J'roridence to do for '^^him what Providence has enabled him to do for^ himself? Tho wisdom and goodness of Providence ~ are shown in giving man the power, and placing him in circumstances in which he can exercise it. f A neglect to use and exercise this power, is a disregard of Providence and his manifest designs. Does a man show his trust in Providence by enter- taining the expectation that, though he shall neither p'ow or sow, yet somehow a crop shall spring up, which he shall be permitted to reap? Or rather, is not the right trust shown by plowing and sowing, planting and watering, and then, after all, looking 5" to God for the increase. All that our limited power ■j and wisdom can accomplish, it behooves us to do; ;ind after that is done, there will still remain an anuuu-.nt scope for the exercise of a trust in Frovi dtnee." ,; jg '^*— s- r 9£ £P^ ^■^^./-^ ■^r .Yetv- York Life Insurance Company. Life Insurance of Greater Moment than other Insurance. 17* r % *m Scarce any one of intelligence at this age doubts the propriety of securing his house or property by an insurance against the possibility of a loss by J fire or otherwise ; and yet this is absolutely of far less importance to the family, than an insurance upon their only reliable property invested in a husband and father, which is constantly exposed to the hazard and uncertainties of life. Should a loss occur in the former, industry, perseverance, and economy will in a few years replace it; in the latter, it is a complete and fatal one, and can never be regained in this world. Truly sad is that fate which 1^, .brings with it poverty and want, when the ocrtain-/r1 •-''tics of that loss by death, shall come to be realized. Larl^ Attention to Life Insurance. >$% Life Insurance should then receive the earliest attention of every one who has a family or friends dependent on him for support The welfare of those we have sworn before high Heaven to protect, demands it. The offspring whom God has given us, \ and to whom we owe a fostering care, demands it. The welfare of society demands it. The laws of God, of man, of human sympathy and kindness, demand it. We owe it to ourselves, to our con- sciences, to all that is near and dear to us, to make such adequate provisions as are within our means, for those who have a right to that protection which the laws of kindred nature claim. Indeed, it should be a privilege as well as pleasure to every good and I free citizen; and in the language of the apostle, % ** /s>;' ^b3* -*s ,^m. y^-^: l. V -v '' ri; rV ,f ' ;' f &) ->0 .Yen-York Life Insurance Company. f " Hark! hear those dear ones, who once had a fond father to caress them, now crying for bread. Wit- ness the pang that shoots through that anxious and <• careworn mother's breast, us she raises her eyes to heaven, and with a broken heart and suppliant tone pleads for her innocent offspring. She murmurs , not; but she feeds that her burthen is more thai- she can bear. ) Witness tho horrors of poverty attendant upon , a neglected widow, whose greatest exertions are remunerated only with a miserable pittance, sur- rounded, as she may he, with her helpless children— suffering for the necessaries of lifo ; and then but for a moment reflect that our own families, our own wives, and dear ones, are daily exposed to tho same sad fate, so long as we live without providing a cer- tainty against their futuro want. y*£? ~y This is not an overdrawn picture. In tho capacity of a physician for the last fourteen years, we haveA" witnessed numerous instances of families reduced to penury and want by the death of a husband and i. father, whose former circumstances were in every >^ ^ respect as good as many of ours; and far better than some who imagine themselves rich in this world's goods. 1% 4$r > r¥ ft When oiifljit an Insurance to be Effected / ^ Now. First, because it is less expensive than it will be when you get older. Second, because, if in health, you will pass a medical examination and bo accepted. Third, life is uncertain, and delays are dangerous. In proof of the first, we have only to state that the premium rates, per year, are increasing as you grow older, so long as you remain uninsui-edy 'Whereas, when insured, you continue to pay, durin *# 10 V «"f % V.tj ,/< '<£^?\s~$ & .Yew-York Life Insurance Company. your natural life, the rates per year that are charge able at the age you make the first payment. A man at 43 years of age pays as much per year for a policy of $2,000, as one at 20 pays for a policy of $4,000; and at 50, as much for $2,000 as one at 20 does for $5,300. This, with the accumulations ^ made to each person insured in the form of divi- dends, alone offers great inducements to insuring **£.) young. /Kktv, ^ In regard to the second, no Insurance Company B sj will take a risk where the person applying is not in < sound health, with a fair prospect of long life. Hence, it behooves all who think of insuring, to avail themselves of its advantages before the ravages of disease have marked them, and rendered their chances of acceptance doubtful. Third, and lastly What greater evidence do we want to prove the uncertainty of life and the dan-£ gers of delay, than a moment's reflection; during which, our own observations and past experience shall occupy our mind ? How many can each one of as call to remembrance of mothers, orphans, and i, j f dependent parents, victims of the uncertainty of ^ life and this dangerous delay? How many, but for it would have enjoyed a comfortable livelihood, who now suffer in abject poverty and want ? Do not our innermost feelings respond to the declara- tion that Dtfr * ft ela»s are Ban^eroug Procrastination is the thief of time; disease may ■yl come upon you; death may overtake you; and in £ an hour, when you think not, you may suddenly be *£H cut off, and that without a remedy to your family. ^g [f Wait not then for a more convenient season; j&. ^accept the boon while it is near, and at the earliest ^J % i ■£»*$' SiK' fJJT ■ f $ ;, ..o .\'oi- i'ork Life Insurance Company. possible convenience provide (or your own house- hold the means of an honest livelihood when tim< shall cease to know you more What if I sltoulO Die To-night? Let each one himself ask that question :—Suppose I were odled to render up my stewardship, leaving . this for the world of spirits to-night, what provision have I made to secure the comforts of life to those who are dependent on me for their daily sustenance ! Would those who are dear to me be safe from the pangs of want I Would this dear wife, and those aged parents, be independent of the cold charities of the world ' Would these dear children, committed to my care, have a comfortable homo find tho means ■^ joi' education? Would there be no sacrifice- of WT property by forced sales, to meet the demand of^ creditors, or ihe wants of those I leave behind me .'^ If we can answer these to our own satisfaction then are we prepared, so far as they are concerned )f to account for the "talent" entrusted to our (tare. returning it with usury. In view of all these facts ought we not, while in health, surrounded with tho comforts of life, and the means within our power, to prepare ourselve.- to die fit a moment's notice, leaving our families , and those dependent on us in as good circum- stances as we should do, had we but a warning of the day and hour beforehand. Yea fully prepared, 'fi so that at any hour we can part with our near and dearest friends, and at any hour meet our (toil. W- V ^■g~ <~________S___C_____£____ ~-—•—>—^------)f £—^-----r^- 4V a .Vew- I-©/-* .£i/e Insurance Company. 23 £ 15J5T f8~ jinions of (Bminent $$lett on Itifie $nsnrantt. «&& c- m %:~^ '■e taken for debt. Vour stocks and shares may fall in value. But a Policy of Life Insurance can not be taken for debt; cm not be :ihYnated from your heirs; and if you have chosen your company dw, n etly, is sub- ject to no commercial risks. It is as nearly sine as anything earthly . ^}can well be."—Henry WardBeeclier. S ,tf;«^*— ~v -s s~________-^ -~a-fjy >o ii^c-^ ~ „~*«s .•.$$&; 5 TYL.FH iHjTflWRFORL), Office 6?8 f Street, N. W., Washington, D. C. *1 8 fi. I* ^5£! «teKSB