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: ih Gains Over Prev OSHAWA, ONTARIO, THURSDAY, JANUARY 19,1921 -- in rT SEY t-- ~-- ESS EX CEEDS ANADA JAFFE policyholders are soptteped far apd wide, and Wd WIth the desipe of ching them <n the -guickess 1 pnt Feasible form. that this fridgid 8 being published In the hear inners. by the Comppny., A bogkiles - RYER JE wil de (a rompiore "pare watled upon reghest, CANADA LIFE "HAS RECORD ~ YEAR Jy 1521 Annual Biakement Revie - ed by President ' ) am bap 10 sdy that in our Company we Lave heen able 10 peach the obleciive sel al Lue be- pein GL RLE YAY. Having in mind tig Jurge volume Of new assura).cos Lid in LE20 me felt we should net Le tee Embitous in 1821, and so se- quently fixed as our goal $50,000,000. { This hgurg bas been exceeded by | £900,000, giving us the hapcsome ii- | creas? of $7.000,000, or 12 per cent. | wer 1826. and bringing the asgur- | prick in tyre 10 E4259,000.000, ip! yaa Of Phe general decline of 16 per rent in new bus.ness mn EELS we are proud. bur I hope net! Lully =, Of the fact thai ours in. 50 2) AF WE BADW, the paly Cape | 'Lien oQUPABRY (ePOrling a husiuess i Excel. OF hat. of he PrecesiLE | seab AreRE Brain DRS BaD BED | LE A very granfyivg contr:bution, | £na it will interest you to know that san Province of Quebec hus nad al 18588 share in O¥r SUCCess. Home | JEUIS Bp0 BE copunepced issuing | 100-8008 0 5s RRC, ANd aye 10u0W- | go tap up) Publishing the annual | sla ement and all advertising watier ii bat lapguage. As Loe Cunada | Loe WAS ne fivst company fo enter | Quebec, having dens =o in 1843. ao 3 as heen the frst 10 issue in the | i redics language a course of in- | £114CTION FOF ARISEN. B04 We Baye | nad several peguesis to allow ils use in colleges and schools. We have, of course, Very consicerable sums in- vesied in what Mrovikee. oe in the course of the year I vised, wiih the General Superiniendent, the sices o1 the company reas over dy in the United States and ihroughoct ))estern Canada. Eyvery- where we found in our represen atives that healthy optimism And ALmo- shhexe of success which surrounds wen who have striven out of the fogs of depression and have wraed w their own adraniage and leo that of their instilutson the lessons 10 be jearned from coustapily eh...giug circumstances. Fue persistent ¢..cei- | fulness of the lite assurance sales- man is of untold value not uv wv Ww himself but iv the public with Ao mingles, ang gnabies a oo es h-4 his ew, ama wah the cons. clon i that: A carries wath At thai ee. from merry Rnd that menial 1epe:s which eave one foe Lo Proseciic u. hampered ORES us WIRASY business or | | poptession, with its normal He edt 10 | Bate. | gy will remember that two ears age Broup insurance Was ntreduced | in Canada. The channel to which | this particular form of coveraze was to he directed has, through the d 4 curtail idesy of operation 3 largely in industrial world, been iii fo ms, put in its stead there has opened another avenue which has proven interesting and per UReT- ative. Whis Aacludes enaployees of many municipalities. of banks and trust companies, of educational and other institutions. Policy Loans. influenced by the prevailing condi- gions jin Mnance, policy leans. ac- cording te available information, haye been peserted in greater measite thay before and mere har- tioniasly Ap rural districs. Con- uinyal warning is being gives by all companies in the effort to drive home the danger of impairing the equity in one's policy, and pers.steat MANY PROOFS OF SUCCESS tn odd Lida 1 , Business sweitten by this Com. ) in 1921 exceeds the i cent, or , of $7000 fount to, "in hr "S11 obi 1 uo, a en total stung in fore ae, Wan 0 over 000,000, 5 , The cxepllent vate of Interest corned ony Investinents, being 6,09 per cent, which Is ap - crease over the 1920 rate, 1 in Bue with the, Conada 14fe "Conservative Pros nil Sng indica es bot jn ; ABR, hey Tals Pegg the na contributors to surplus earnings. PRC reer Wr Me 4 rr Siees he rath wivErmely, » et This saving, when added to the earnings from other soprees, fomvegnies ,885,46; 1g FRESE sUrpips cavmings in iho pany's story, extend. over 34 years, xi Group Insurance business, se. i with the Capada 1, in 1921, was double that of "IN, amowing 10 $5,333,050 and Siving surance protecuion th S508 cpproyues of sarious fins, pupicipniitiey, eic, i Dividends paid to policyhioids Bry Mere Aery salisiactory WW 21. being $1,513,000. Fuels, such as these, sre un- snstakavie sizus of the steady ress wha she Cupada Lite 5 aw) pking lor a great number of years. becl able to achieve this remarikaile Febaing WRU ACCRPLINE Seventy mail- 0d WE eV dasliances. Baris ox- pelishige 3 MgUe JUG DUSL Zreally shed LIQ Wik ady Sarge COG CAR Of our members and of the pubic in Lux Lusiituton. bound Ipvestucnts, Vie of Lhe most important factors Mle success of a life assurance Collpuanly fF Lae cuaracler oI the ses CURA ab Wah US Lunds are plac- LU BUG Ame cel rate of merest (ue) Yawiy. Aap able 10 S3y wala prea colsdence (ual the invesunen.s of cae Canada sale are second WW s00se mA Me wae LusLdlulion ADYW acre, 40Q Laue combed with was areal | Spel) 3 MOSL Brauiying ni iesi Aandi al. Ala Lue cary Pass of year wa were Sta aie MW dCyuue securities of uudOuvieu Fuh wl PUCES ADDOOXUNALANE Luause Laan VA Lam AEVAOUS deus, DUL dale, daa | pedlngs MEL BUVWM Au Uphill ele wean, Bau A couseyuent sligac ue- Coches lu Yaelas. We have, non ever, besu uve employ our investgeut LURUS LO AGVADLAZE, ANY Our Le. tale Aor Lae year, 6.14 per cent. indicates Auoluer sioall step ou ne asce.uing sta. Toe demand 10r uor.gage dus coalnued, and our uave aguin exercised fine aiscretion Au fue reCOMMMSLUAMOLS. Sole of Luese anus are 19 cover acculuuiated bank auvauces, some 1 e¢ le iusiaer ueveopment, waile Olless ale 1equired Lo carry tue bor. onel over the period of stress oe- casivned By Lhe unhappy reduction wi oa-ov value of his crop. All igans Brauied Lais year have beep in only Lae best eis, and, as usual, upon own valuations. I venture 10 - desate that our farm leans av, ceed Er acre, An view ed aoguenily suurbing experiences some portions of the Western Vrev- inces perhaps you will permit we to say that this company has been Dar- ticulariy well and happily advised siuece lhe inception of its leaning operations there, and that couse- quently we have extremely few. if any, loans in tne districts waich have proven so undesirable alike for the larmer and the investor. The 4if- ienence between the ultimate price ppceived for wheat and cattle. and that anticipated, hae, of course, heen neflecied to some extent in inigrest payments. but our 19.909 barrewers have, on the. whole, done as well as opuld be expected, and our ugEre- gate eoilections show a very satis- factory increase over last Yeas. msual we have mot included ia the asset described as "interest out- standing" any sums in arvear which appear doubtful of collection. It is unavoidable that a it SO many borrowers some will fall by the way - side, but we have never yet had to accept a met loss upon properties coming into our hands. The funds arising from our opera- | tions in Great Pritain we have con- tinued to invest there pending a turn in the exchange situation. and have dn that country securities of $4. 548.326, with an average yield of $ per cent. ya our assets have, as usual. been is carried on looking | 10 the vepaymept of loans already % thus 2p] A reaped , but the ve- | for vepiveient | or reduction of loans has been so marked that the net increase tT wus in- valued upon a mest conservative basis. and you will remember the special contingent fund of $500,006. which you have set up as an ad- ditignal protection and stabilizer. it was our great misfortune 'do lose this year a dear friend and ogi- league in the death of Dr. John Hos- in KA, who had been one of vour nt ; vesi in Epeland oa pd im 4 Britain. 1 dee? Board in Great i Cee no mghgus hie associatiop with the he fejt a keen responsibility he us and "| grate. to {to the the solicitor, for success apd gave gnost Toeely of ie and counsel to ensure # Seventy five Neats' Service. : We have just entered the ocom- pany's seventy -fifth year. 1m honor of this anniversary we have fixed as our objective in new assurances seventy-five millions of dellars, ans your Dirve:tons have authorized an Nour officers and vepresentatives in field ave high ed and hope- . but would value the suppeit of exery share in the extension of what is after submitted for-your approval vesulls gp dhe theerful and ocgnunueys all branches of the sorvige. your Idpectors desite io ©0K- dially thank all whe have shave in it. i My avarmest thanks ave again ren- deved io the members of the Diveci- our Board in Great Britain, wfiicials. the medical directors, the agency and 1 loan managers and cach indivicaal anit in the Howe Office and in the Field for the courtesy and considera - won with which thelr gencrous sun. '| provement appears to be. managers | suid | since 1899 and Viee-Poesi- | FY : wii helpful as Chairtar | had ay " 4 "THE PRESIDEN - My. HERBERT €. COX REVIEWS BRIGHT _ OUTLOOK FOR CANADIAN. BUSINESS p> EES SESS PR, Oe. NR TTT eh rr hdd Aid dhe 1621 has had many unusnal fea. 4 tures--neot all pleasant, but, on the ether hand. not all unpleasant. ne proeess pf wveadjustment has egn- tinyed with a further lowering of prices gna slackening of trade. Mer- Pchants and manufacturers in gen- gyal have been cqmpelipd to accept additigpal reductions in their in: yepiories and it gepms pessihle that hopeful the outlook for fxture Im- Our top. eign trade, like that of other coun~ tries, shows a material diminution, but with the mitigeting fact that ex ports are more nearly balancing im- ports, which is a healthy sign and a step ip the right direction. We have still some distanee to go, how- ever, before the premhyn on New | York funds can be entirely elimin- | ated, and there will be necessary a | still more marked decrease in opp | purchases abroad, with a concurrent increase in our outside sales, if tips | ig to deg accomplished. This is an undertaking in whieh the individual | may share. Ip the wider | at work in the effort to deyige wi | of bringing about stebilizationd and {will result. Greater | everywhere would seem prime essential. The influence of wages upon pro- | duction is of paramount importance, {and the attitude of labor in this re- gard will bave a powerful | which will also be reflected production effect, in the correlated problem of unemployment. { The )atter jong 'ago reached the | point of seriousness, and the iudi- | cations for the coming months do j mot encourage us 10 look for early improvement unless those seeking | work show more willingness to ae- cept it at a wage more commensuy- ate with the aligi®d living costs and | which will engble employers to undertake contracts with prospect of | a reasonable return for the risk in- | volved. When this basis is reached, | enabling the product of factory and | mill Lo be turned out at a lower cost, the buyer will he more ready to enter the market, and construction of all kinds will receive a great im- pettus. Building contracts aggre- gating many . millions of dollars which are dependent upon the labor cost are ready Lo be proceeded with the moment conditions are more pro- pious, and it will be a reat pity for all concerned if they canuot be taken on. Phe Conference now proceeding in Washington has given rise to the hope, often and variously ex oS 3 3 Press- ed, that its results ma) inciude a general quieting of overwrought nerves. which will expedite the retwn to what has been termed a condition of normalcy. with ei its attendant blessings. The conclusions already reached have justified the calling of the Conference and given greater welght ang signiticance to its further deliberations. Aassamption of responsibility for the flejd of | {world exchange the besi minds ave | it is hoped some degree of syccess | to be a The prospeet of final adjustment of | the differonees with ireland and her | | goverment of her own people has | _-- 'vust; will' have lity' ultimate and full reward. One eannot hut be impregs- ol by the recuperative power of the Western farmer and by his deter- mination not to be permanently dis- heartened by aetbacks which . are ¥eglly only temporary, though they may seem to be upcomfortably fre- quent. This danntless spirit is the nation's first line of defense and the most potent protection of the im- poriant investments made by loaning companies in the grain-growing Provinces. Pield for Jife Assurance. © It is no surprise that the altogether unusual amount of life assursnee sold on this continent in 1920 should not have heen equalled jn the last twelve months--~the wonder is rather thal the shrinkage in velume is only 16 per cent, and In Great Britain about 20 per cent. This is only an- other indicetion of the appeal life agsurapee makes to the Public under any and all circumstances. [i brought ah Intensd relief not only wi: Great Britain and Ireland, but to the world at large, find lexs divided ate teption can now be given to the splu~ tion of the problems remaining from the war, ' One of the chief nf these Is taxn- tion, which has fn gil countyies be- come an alm unbearable burden, casting a blight upon business of nll kinds and removing the incentive from individual effort. Phat portion chargeable directly io war reguire- ments and ih res to meet them must pe cheep hy undertaken, hut cafe 1s airond a spirit of watchfy: td nf all other expenditures, and any Government which has re- Bard for this feeling "will Le well LYRE IS A Nationa) Need, Much has been said and written, kolh for and aginst Canada's Na- tional Railway underiaking. We all know the underlying facts leading to the Government's assuming the roads, We all know the difficulties |is one of the great silent stabilizing © bich surrounded and continue fo |factors in business and in the home. surround their operation, Only con- | There has been in #¥idence in the structive criticising #9 helpful. he | United States for some co) siderable assistance and. ee-operation of Ms time a tendency ypon the part 8,000,000 owners can secure the sue- | bankers to ask for life assurance as cess of the National Railway, and as | collateral security in cases where the Our population. grews its progress | personal equation enters largely into will guicken.. Ap aggressive immnj- (the granting of credits. on gration program is necessary. Fhe! ®he desirgbility of such protee- peoples of Europe are not seeking | tion has of late been attracting the | new homes in as large numbers as | attention of Canadian' bankers, and had been anticipating, but Grest | we look for an increasing demand Britain js fpstering a reasonable eni- | from this source. The life of the | Bration t6 the overseas Dominions. | borrower #8 of Buch importance to "| Canada hes facilities for making her | the lender that, in our opinion, this advantages known and should obtain | form of protection is.as necessary as a major share pf those who will thus is the insurance upon his mer- | leave the homeland, but she must | chandwe. Greater co-operation he- ibe alive to the fact that our sister! tween the banks and insurance com- isominions are offering Lgansporia- | panies in this 'direction eould not {tion and other inducements which | fail to be of mutual advantage. It | must be offset in Some way if we are | is understood that in future the not to lose out in the race. en and | amount of life assurance carried will | Women in greater number ahd more | be a feature of all credit repofts |aquickly than natural fnerease ca) | issued by two of the leading credit { provide them Rave been and are the | agencies and will have its influence great peed of our country, und a |i; determining the general financial strong policy looking to thejr rapid! gtatus of the individual or corpora- and steady acquisition will command | tion under review. This growing 2 ready support. For many years|pealization of the value of life as- ithe Canadiap Pacific Railway Lom- | garanee in business relations fis pany has bad an important share in| greatly widening the field for the | the peopling of our Western Mrov- | companies, and warrants our belief inces and they now appear to he that there can be no serious reces- about to embark upon a sery com- | sion in their advance from year 10 prehensive plan tnyelving many mil- | year | Hons of dollars and providing for | : | y o a | many oumnds of meiticrs, This | go) assurances in large volume to x Of course, of | provide immediate cash resources 1212 hoped. the. overseas uli but | Gut of which estates may meet fail to materiadly pian a ! heritance taxes, which are now. such | the responsibility t a burdensome factor in all countries. dy ¥ 10 be one of a his is a com ratively new avenue | national character. which requires | Th ja FoiBparat)y rll ra be he { national treatment and support. jf, Ser op) . » | Soldier Settlement. i Life assurance and what it accom- { i | plishes appeals to the common sense | Settlement of soldiers o » a people, but it is curious that, |is making considerable 2 { 3 "2 although iio persuasion is required to {10 DOhtr Slat 21.142 bog gry hen induce one while alive to provide the lof 61,824 applicants: 21.000 Lad oh daily necessities for his family. much i tai 3 loans 4 $86.500.000 influence must be exerted before he while some So ae 585.54 ree is pre vailed upon to make certain | Dominion lands without financial as- similar provision when he has gone {#istance. Nearly $00 men have al- | ready repaid their loans in full | hee Crop Situation. Phe general @op situation has | been 50 thoroughly explored in re- ports already published that repe. {tition of it is Lunecessary and uunde- | sirable. 1 should like 10 say. how- lever, that banks and lending corper- {atlons, on the whole. have done bpresgniatives is rapidly rising and is | everything possible to minimize the influfncing not only the volume but {hardship of the individual and the | the selection of business with its | dislocation of his activities. The de- | effect upon the death rate. | pondable conservative customer has vaucing years are bringing larger been enabled to carry on, and the | experience on which te base a fore- well-intentioned borrower is not be- cast of life, and medical divectors ing unduly pressed. Stock likely to | ae conseguently able to deal with a repay feeding will be carried through [greater degree of confidence with ithe winter, while the poorer grades individuals offering more than the (are being sent to market Those | usual hazard. We are gradually who are short will he able to obtain but eonstantly drawing nearer the | seed, and the perennial hope of the great ideal---protection upon some | farmer will support him into another | hasis for every man. Meanwhile, year of intense effort, which. ave lin spite of the cnonmeus amount of There is also an increasing demand { well trained and well equipped sales- wen who can command the respeet | and confidence of the public and whe i ray lucidly and accurately the nt features and advantages of the co-operation made possible throuzh the life assurance company. Happily 'the standard of character land preparedness in company nre- Hence the need for well educated, | Ad- | ESS TepT---- Yo BUSINESS OF 1921 iota hen insurance sold annually, we cannot overlook the total insdequgey of the protection carried by the people of this continent, since not more than six in each hundred are sufficiently covered. In Canada the total as- surances carried are $3%000,000,000, o Slightly more than the National ebt, Favorable Mortality Experience, The death losses experienced by the companies In general in the twelve months have been Jess than usual and reflect the improved heaith conditions of the people at large gs well as careful medica) se- lection. This is impertant, since much of the profit returpable to the policy- holder arises from the saving made ible 'by the difference beilween actual death losses and those ex- pected and provided for. In the en- deavor, buweer. to effect such way br ts subseguent retyrn to the et we must not lese sight of the chief function of life sssurgpee, but must strive to make is protec- tion available ing constantly widep- ng circle. Government Supervision. our service to the public in the mea- sure in which the laws which govern our operations are reasonable apd flexible or Federal Insurance Act of 1817, with its provisions for supervision, panjes and & splendid protection for | the apsured. This Aet is administered with fine capacity, bas attained the resujt required of it and has gained reepgnition. as being Unoesl compre- hensive and effective in. its scope. Bach Proviasee has also its own legis- We can be aided or hampered in| "OF INTEREST TO. POLICYHOLDERS In view of the soneral decline local and burdensome. | [afiokds ample machinery for the com: | | | lution, and an effort is pow "belug | | made at the suggestion of the Super- | | intendent for Ontario and in conjunc. | tion with the revision of his Provin- | clal Act, to secure the adoption by | the and elarify not lessening {valye of the inspection and super- | vision to which they are mow sub- | Jeet. The rights and safety of the | assured can be and are fully and ex- { cellently conserved by one examina- tion of the offices annually. and it is various Provinces of unjferm | regulations. This will be desirable | {apd helpful as tending te simplify | the conditions mnder which the companies operate, while | the thoroughness or | ways ready to assist by ing these smell payments when ever copyenient. In the mesd- 1 to be hoped that nothing will he done | by any Legislature without careful {2nd thomghtful consideration to mal- { tiply this supervision, with a con- sequent heavy and avoidable ex- | pense. ahich must be borne by the | policyholder. It is worthy «f note that no policyholder has ever lost | one dollar by the fallure of a Can- | adian life assurance company. | Imatitutional Advertising Continued. i An interesting experiment. new to life assurance. but already success- {ful in other businesses, was tried dur- ing the last few months. in the form of what has been termed "Institu- tional Adyertising" or genera! pub- { Heity in the daily Press throughout the count.y. The 'expense was { shared by.the companies upon an | agreed basis and the result has heen i | 10 continue the campaign, but on an | enlarged scale. for the ensuing year. | The undertaking is managed and the | copy prepared Ly a representative | commitiee of the compapies--men {who have a knowledgeable connec- | tion with the husiness they represent {and with the | This recognition of a common ground { healthy atmosphere, in which the | mrospec ive assurer will see mere | clearly the great institution of life | assurance with all it conveys and in { which the salesman will be free to | urge the service he offers rather than | the competitive qualities of individ- imal companies. If the people are to {be insured as they should he there {4s not only ample room but great need for every company. x] Duiing 1921 | The Canada Life Assurance ompany { (Es. abilshnd Made the following LiFE INSURANCE FOR BUSINESS PROTECTION Tire volume of Business lasurance on our books is lucseasing each pear, and a substantial portion of our proauciion for 1921 was made up of in ABT) substantial progress: | -- { Total Asgarance ia Force ig- craased to | Total Assets inereased to. . { Reserves for Protectica Policyholders of | New Assurances Issued f Reza... ........ | 1 New Assurances paid for in 1921 SA na Surplus garned in 3921 Total income for 1821 Dividends to Policyno.der cea BBE0.NS0 000 in Toial Payments to Policyhe'ders in 1921 sife insurance taken for business pro. tection. This form of insurance is more and amore taking its place as an dmportant economic factor in the business world, and nearly every class of business scuvity is recegniz- Ang is need and value - The policies issued for business purposes cover a wide vaniety of in- surance ueess. They are taken for various veasons--10 provide a cush fund for glengencies. ip Strengthen credit, Lo redeem bonds at maturity, io lake over ihe deceased partner's interest, lp create a sinking fund, te furnish an investment for surplus Lands, to provide for vetivement of Increase $ as.423.000 80.098 000 2. 889,000 £8.590,000 4.925 000 T0909 0 Ld 62.063.000 7.444 000 S502 600 2.600,009 438.000 ! S, 0 x educa- tional or charitable institations, and many other purposes. The policies viay wu amounts from sinali sus of no or ithnge thousand Lolars up 4 one million dellars, or wee, for all Kinds of business w- ' foun dae small one-man $15,538,000 1,613 000 6,086,000 2 J Financiad | Below ave some of thie moicworihy schivvemeats of the year: : Aboxe, in buicf, ave the spsplts fra 2024, ws shown by the i al Simtement. r ¥ or the moderate sized parirersiipg up vo the lange lunited vorporation. AU as ve that dausi.con ARSUEaLCE iS just as heces- sary 10 dhe nun) small basisess cons 1 Made the langes: surplus 6.47%. Araining of fed tives having benefit of wn Near. any other year income, Bas. pluced in picrions yous. Divi ds tp Talicyholdess i get by the Canada 1c. Company, extend. orur so oy . Farber iacioased ihe average Continged 10 nproe grav Plated merc insurance w.lh preseat Pal.cyuoe'd Calas lat Wrote mere than iw <2 he a dau GENUS IpUAL 1a every cil, owe apd Aliage as 2 is lo Ane ag firms and COrPOrd sons faut the small busi- greater need of this intained a: (hie igh a stles 1o tae nome, and often repoe- al ie ia we whole estate of the gwaer, Sand ther families. At is, thevefore, Bot surprising that bust es jupen of Joday ave increasing Ait use of this form of pro- Phe B of and Progoes- Groen diy depends on the of ave ar seve members whose in mest cases. be a er for the business. Such a aplue 10 the business in excess of their salaries ' fund derived fron hance in event of thei 0 soe he Tadter maf up replacement i Anown 2dnat = greater im- am defe insurance protector arair is a the h sory Toar rome WOT S. CATH AS force, et pal. Gl Graap In (A Complete Annnai Stadéauont i HEAD CEI has asen gwen Uaeagheul she | "ee exle ding copdit to those whe lamps ant x substantia' vt wf Puciness Insgance pol y woe rth the opedit of an: vv: Asim uses lusurauog i Wid pe Maided Unga fio; LL. TORBNTR, x by ee apie sn GROUP INSURANCE + IN 1921 More Firms Now Provide Insurance Protection for Their Employees Last Year's Group Business Doubled by the Canada ; Life B bow r------ Our second year in the writing of group insurance shows substantial progress in this comparatizely new boanch of eur business: the years is- sued business amounting .to $5H.333.- 858, as compared with $2.358.450 during the previous year. Twenty- one new groups are included under this group coverage. providing in- surance protection for an additional 4501 employees. 2 Whese groups. represent variows in- - tepests: industrial, commerdial. gow- ermmentai and educational. Phe bais- iness finns. who secured zvoup in- surance in the Canada Life in i821. include such varied lines as Fuoni- tune. Printing, Publishing. Metal Working. Automobile. Paint, Glass. Banking, Investment, Fire and Mar- ine Insurance and other financial in- tevests ave included in our 1921 list of goeuh policyholders. We alse dis sped group insurance on the civic employees of a large Canadian Muni- gipality --the City of Calgary --and smvovided a substantial portion of the gooup insurance proteciion secured By the Provinces of Manileba and Quebec for the Government ployecs of those inves. There is every indication that Sooup insurance is here to stay and is vapidiy becoming a javge and im- partant factor in the life insurance SIRS. 41 fills a distinct meed ip Whe bupines world Ly pooviding 2 $0 favorable that it has heen decided | public they address. and common aim must create a more | Oil and ether manufactuves. Also | progressive Prox: mle ip ihe bened simple plan under which all employ- | ees of an employer can be insured-- | as every worker and producer ought {10 be. It has extended beyond the fo- | dustrial and commercial field. where jit was largely developed for the wel- | fare of the wage-earner and his fam- | Hly, and now covers employees in | Banks. Trust Companies. Investment | Offices, Bducational Institutions and even includes Wloyees of gitigs and Provinces. ~ \ . The persistency of group business {shows the walue placed by empley- ers and employees on this form of insurance. Notwithstanding the tem- porary industrial depression and en- | forced economy in waaay lines of trade and commerce, few employers have discontinued their Sroup con- tracts. The business has been as well | maintained as other regular lines of | ins#france, and policies are carried on even in cases where it is known that | the business of the ciployer is at ite | lowest ebb and ithe firm trying te | economize in every way. Some eof the policies row aggregate smaller | amounts of lusuwrance on account of reduced working forces, but such s- | duclions nay be regarded as A tesuporary condition. All this n- | dicates that group insurance Yaa | proven is work and permanency. | Whis year we are abie to offer a | modification of our Eroup plan--gg {be known as Wholesale insurance. to include groups of viuployees,. wl der fifty dn nmmber, and alse meg- bers of Associations and Aitherto not eligible for group term insurance. A further evelopment of the group plan is the issue of group endowment or - sion policies 10 provide, not el surance protection for dependents of siaployees, but tv guarantee alse A retiring fund or pension for employ- {ees upon reaching the time for we- |tirement. The group endowment or {pension plan iuvolves a langer pre~ mium outlay for the employer, but asrongements ave usually made for doth emp over and employee 19 con- | Aritmie to She jazment of the pre- |aMiam on a N-fifly 'basis. i endowment-pension plan helps the Saiplovee lo save, and with the con- ard tol. from the employer ves him 2 stake in dhe business. - by. tending 10 develop Srepter inter ost aud co-operation. All these forms of group' <4 {| wholesale' insurance © moe sapple- | mentad 10 he rugulari thei of 4 {widual ide dpswoance, bat open new and uniold possibiligies for freA ins@ranos service. awh LIFE INSURANCE TO { ; | SAFEGUARD ESTATES } #4 = ----EI TT . i A large proportion of estates in Canada ave lefc wither' available cask funds 1p pay ihe Provincial | Succession Duties. Where np pro- vision is made for suticient : seady cash, the administration of the es- |Site AS pevessarily ueprel until tne lveypired 1unds te pay the Duties have [been obtained by the sale. or by | murigage of the estate. It very often | Bappens nal this cannot be | within a veasonuble tune without a cons:uscabie sacrifice of value, ang lofieh 1 causes nvenience and insurance ole 2 simplest | and surest way i» provide the needed jgoserse (uhd 10 pay Successiun { butles and clear off this debt on the ie. sp What it can be passed on {awithoui loss or delay those en- Litled 10 2 [irom the dangers Lwoulg otherwise A pe ---- BR ---- A -------- 1920 F'Company Enters 78th Year of Service T'S ADDR