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Lowe announced that his company reached the billion mark six months ahead of schedule. He pointed out that only 7 per cent of the Nation's 1,500 legal reserve life insurance companies are in the billion dollar category. Life insurance sales in the first half of this year totaled $99,782,256, up 9.4 per cent from $91,148,966, in the same 1963 period, he said. The company’s life insurance in force on June 30 aggregated $1,003,547,758, which is about double the figure for 10 years ago. The insurance account was increased during the six months by $35,787,886, compared with a gain of $30,077,440, a year earlier, an improvement of 18.9 per cent. Peoples has more than tripled its volume of ordinary life insurance in force in the last 10 years, Lowe said, and the ordinary total now stands at $572,201,175. Weekly premium insurance, which grows at a slower pace, totaled $414,017,583, at midyear. With the exception of a small amount of employees’ group Insurance, all of the total in force represents Individual life insurance policies produced by the company’s own agency organization, Lowe said.
89.3%