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Home My WebLink AboutThe Goderich Signal-Star, 1941-03-13, Page 7J3r MY VERY NATUEE ° Life Insurance is an active,, continuing o o rce�- a: `. , � force 14 the ,,hones of millions who share its benefits. Lastyear Metropolitan visited many homes in tames of family crisis; for a total of over $182,000,00Q Waspaid on account of death claims ° to scores of thousands of beneficiaries of Metropolitan'. polica fielder's. Dividends, matured endowroen ...annuitt. , ty and health and:accident clam; pscq�Ji�teti�ts, di�abili"" , , and other benefits paid or_. credited to living poi,cY.. holders during the year anliounted to more than $426,000,000. The total of ,:almost $609,000,000 for payments .to -policyholders and beneficiaries is a record high for the..Company. Metropolitan funds, invedt for or tlie benefiit of, its and safety litei°ature and • advertising, Metropolit40: po icyholders, continued to' play a' part in the life (:)f a again contributed to the task of bringing better health the nation. These funds .aided inf. �� financing Govern- to they people.of Canada and the United Mates. ,The went 'activities; helper•tekeep industry hummincatiki deoth rate of Metropolitan policyholders as a 'whole men in jobs and the nation strong and productive continued to be low,; and mortalitya ong fndustrxl ' helped to ereet public and private buildings, and assisted policyholders was approx niately the sane as the 29,39 farmers to own their farms and keep them in proper figure, a record low for this group,: _w, Metropolitan ,is a: 'mutual 'life insurance company. repair:, However,ulow'r interest' . ratee .bier "alt .. -r a ll _. k, y previ ing, continued tot: have their effect on the' Company's consequently earnings 'and� do divideiid� to ' li This means that. "thee assets of the . companypany are held Po derf3 cyhog • for policyholders and them beneficiaries., . The valtle Moreover, through its Welfare activities, its nursing of these assets will ultimates be .paid out f their w r s * • � p 1� for 4#�e�, for eligible policyholders, its research, its °health , benefit.... and for them only., service• • ASSET S WH ICH ASSURE' FULFILLMENT OF OBLIGATIONS Government' Securities ZI. S. Government Canadian Government Other Bonds • U. S. State & Municipal . • , Canadian Provincial ,& Municipal Railroad • Public Utilities: Industrial & Miscellaneous Stocks ... ". .. . .. . . . .. All .:but $.47,952.13' are Preferred or Guaranteed. First` Mortgage Loans on Real Estate ' • Farms 82,104,425.08 Other property - -. `855,122,018.3 loana•on Policies Real. Estate Owned . • • • • . Includes real estate for Company use, and housing projects. Cash• • - • . • • , a. • . Premiums Outstanding and Deferred . .. Interest Due and Accrued, etc.'. $1,147,603,320.93 $1,063,435,444.96 84,167,875,97 98;597,960..88.' 104,071,903:62 556,382,872.40 7.09,433,300.58 479;334,236.03 504,549,131.45 430,945,055.68 150,740,516.25- 90,232,179.03 62,295,093 3.2 . OBLIGATIONS TO POLICYHOLDERS, BENEFICIARIES; AND .OTHERS Policy, Reserves required by law Amount which, with interest and future premiums, wil assure payment of policy claims. Dividends to Policyholders' Set aside fo> payment during the year 194'1. Reserve. for Future" Payments on. Supplementary, Contracts Including claims awaiting completion: of proof and estimated amount of unreported claims. Other Poilcy'Ob1 r11ft....:.. • Including reserves for Accident a•nd Health Insurance, dividends left with Company, premiums paid in advance, etc Miscellaneous Liabilities . • Liabilities not included above ,` -such as „tabes -due or accrued.. TOTAL OBLIGATIONS • Special Funds Surplus . • , .. • z.• This" serves as a margin of safety, a cushion against contingencies which cannbt,be foreseen. NOTE -i-•- Assets carried at $238,267,054.59 iri the above statement are deposited withvarious public officials under require- ments of law or regulatory authority. Canadian business embraced.in this statement is reported on basis of' par of exchange: $5,017,551,552.08 16,370,000.00 323,870,084:,24 $5,357,791,636.32 • These hiyhliph.ts ,of •• the Company's business in the i. ., a , Dominion during 1940 will be of particular interest to • Metropolitan's Canadian policyholders and their beneficiaries. The total LL aitiount of Metropolitan life insur- ance ire force in Canada at the end of the,year was *,206,231,511 of which .$666,544;714 was - held -by Ordinary policyholders; $432,296;262 by Industrial policyholders and $107,390,53 by Group policyholders * *` * • Payments to Nletropolitan' poTicyliolde`rs - arid" beneficiaries in Canada during 1940 were $31,829,729.76.' The toial amount the Metropolitan has ,paid to Canadians *nee it entered Canada in `i.872_, phisLLits present investments in Canada, exceeds,,_ the total of all. premiums received' from Canadians by more than 8173,900,000. * * The - total; nt i rber of nurginrvisits`maele with" - out additional cost to our Canadian policy- • holders during 1940 Was 317,972. Metropolitan -health psi ilications distributed: in Canada during 1940 totalled 2,687,69. * Metropolitan investments in Canada as of December 31, 1940 -,.totalled. 8296,976,446.02.• - • - minion LDoov�ernmertBonds .. _... Provincial. and. Municipal Bonds- . . . All other investments (A MUTUAL COMPANY) FREDERICs H. ECEER, NewYork,• N. Y, ° • Chairman of the Beard Metropolitan Life Insurance Company *MXICHELL D. FOLLANSBEE. Chicago, ill. Member, Follansbee, Shorey and Schupp Attorneys at Law Joan P. Day, NewYork, N, Y. President, Joseph P. Day, Inc., Real Estate LANODON'P.'MAxvN,-NewYork, N'. Y. Member. Emmet. Marvin and Martie. AttornEmmet.s at Law WILLIAM L.fPE BOST e_wYork; N.Y. "fir tr Unlon Diire Savings Hank Innum AMI MILBANK, NewYork, N. Yr Milbank &,-Co'. DALTON LORRY COLEMAN . Montreal, Canada, Senior Vice -President, • Canadian Pacific Railway Company NEWCoatB CARLTON, NewYork,, N. Y. Chairman of the Board Western Union Telegraph Company LEROY A. LtrrcoLrt, NewYork, N. Y. President, Metropolitan Life Insurance Company HARRY W. CROI#T; Greenwich, Conn. Retired, formerly Chairman of, the Board Harbison -Walker Refractories Company THObiAs H. Rocs, NewYork, N. Y. President, The Croy/elf-Collier Publishing. Coinpany(� •. WALTER EIANG HOPE; NewYork, N. Y. Member, Milbank, Tweed and Hope ° Attorneys at Law . FREDERICK I-1. ECKER Chairman of the Board 'LEROY A. LINCOLN President SAMUEL W. FORDYCE, St. Louis, Mo. - Member, Fordyce, White, Mayne, Wiilam, and Hartman, Attorneys at Latit'- - GeoRrr•`IicANErrY, New York, N. Y. Chairman, of the Board Title Guarantee and Trust Company Roaear V. Fr.EatsNG, Washington, D. C. President and Chairman of'tlge Board ' Riggs National .Bank FREDERIC W. Ecznn, Ne r'tork, N'. Y. Vice. President Metropolitan Life Insurance Company •WrNTHaoP W.ALDR CH, New York, .N..SY. . ' Chairman of the Board Chase National Bank of New York • Wn.uaat W. CROCKER, San Fratrcisco. Calif. President — • Crocker First National. Bank ofSan,Franciseo. DIREC t � i Agony HOUGHTON, Coriiing, N, Y. President, Corning Glass Works Lours 5. Sr. Lpvgg, r, Quebec, Canada Meniber, St, Laurent, Gagne, Devlin & Taschereau, Attorneys at Law ERNpST E. 'Ncncnrs.'Washintton D. C. President, Southern Railway System ' Havras H: MclNxeirruv. New York, N. Y. President, -National Dairy Products Corp. PHILIP D. REED New York, /1.,Y.Chairman of th Board General Electric Contp'any • JUAN T. TiupPe, Nevv York, N. Y. • President, Pan-American Airways System WEBsTER B. "TODD•, New York. N. Y. President, Todd and Brown, Inc., Buildeits. Illustration shows Canadian Head Office of ' ' the Metropolitan Life Insurance Company itt Ottawa.. The; Home Office is in ;New York and a Hcad Office is also maintainedin . Sail FFrancisco..in;addition over 1100 branch offices are maintained in Canada. and the United' States for the convenience of policyholders.