Belleville History Alive!

Assessment System -- The P. P. I., page 2

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·£:JLA~" -v~ -"3ERN tc. ET _j 3t, t-<5r°t ^ f- 'I BELLEVILLE DAILY SUN, BELLEVILLE, Gl within tho roach of tlio masses, and upon a plan which will place ail members on a just and equitable footing. Tho organization was perfected in 1884, is purely Canadian in every respect, and, confines its business I'to Canada alone. The P. P. I. is registered under tho Dominion Insurance Act, under, the Insurance Corporations Act of 1892, and the Manitoba Insurance Act. The business of tho institution is inspected annually by.the superintendent of insurance, while a detailed, statement of its affairs, sworn to by its officers, and verified by an official of the insurance department, is regularly published in the Blue Book issued by £he insurance department at Ottawa. Tho business of the P. P. I. Is a mutual one, conducted upon the assessment plan, and is simply the banding together of many of our citkens for mutual protection of their dependents when tha bread-winners shall be called away. It .· not Only furnishes life insurance, but insures against .permanent disability. The assessments are, by the « reserve fund, limited to ten per annum. Their records j show, however,, that during the last eleven years they have averaged; only five aird one-half assessments per Each assessment is for..a stated sum, and > increased*,, .Tjie cheapness of insurance in this, company js shown by the fact that for the ten ,ryiears past the :actual average cost per annum at the ^age of 40 has been only $8.99 per $1,000. This institution has had, the lowest death rate of any life insurance company,: or benefit society that ever did business in Canada for the same length.of time. The policies in force now number eight thousand, representing $13,000,000 of insurance. The claims paid amount to $450,000, and the cash surplus oyer all liabilities exceeds $120,000. During the first four months of this year the new business of the institution will exceed the business done in the same period of 1894 by more than $250,000. The fullest information regarding this company will be cheerfully furnished by the district inspector, Mr. James A. Campion. This gentleman is well known to most of our people, he having resided in Belleville nearly a quarter of a century. He was formerly a merchant here, but for the past ten years has been engaged in the real estate and insurance business. Mr. Campion is a good insurance man ; he is energetic and always hunting for "new risks." His reputation as a citizen is one that any man might be proud of. He is truthful and responsible, and in writing insurance will always make his statements conform strictly to facts. This is an important point--the responsibility of an insurance agent. If h© is responsible himself he will have nothing to do with a company which is not responsible. As to his connection with the P. P. I., comment is unnecessary. He is one of our old and reputable residents. He is prominently connected, being a son-in-law of the Hon. Bobert Bead, the well and widely known Senator, one of tho most prominent figures in the Dominion Senate. Those who know Mr. Campion best respect him the most, and we are safe in saying that the interests of the Provincial Provident Institution will never suffer at his hands.

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