Issue link: http://read.dmtmag.com/i/489850
National Catholic Forester — 2014 Annual Report 8 Annual Statement at a Glance 0 Surplus is the excess funds (assets over liabilities) that are left over after all of the Society's obligations are met. After WKHŅQDQFLDOFULVLVRIWKH6RFLHW\KDVVHHQDVWHDG\JURZWKRIVXUSOXVXQWLO,QVXUSOXVZHQWGRZQGXHWR management's decision in growing the business through a large amount of annuity business that was put on the Society's ERRNV,QVXUSOXVZHQWXSGXHWRDODUJHGHFUHDVHLQUHVHUYLQJDQGWKH6RFLHW\VHHLQJWKHEHQHŅWVRILQYHVWPHQWVPDGH in prior years. In 2014 surplus went down due to a recalculation of the pension fund balance. Life sales continue to grow and the operation side of the Society remains strong! The first graph, above on the left, shows our top products for 2014: Annuities followed by Ordinary Whole Life. Graph two shows the 2014 and 2013 premiums for the rest of our portfolio of life insurance products. The legend shows the actual premium calculated in those years and is color coded to match the corresponding graphs. 2014 2013 2014 2013 Annuities $3,406,520 $15,260,049 SPWL $240,246 $15,138 Ordinary Whole Life $934,130 $972,727 Start Smart Term to 25 $7,375 $14,500 Universal Life $308,579 $317,049 6,:/6LPSOLŅHG $54,768 $335 Paid Up Additions $267,820 $247,775 *%:/*UDGHG $68,853 – Term $156,659 $194,294 10- and 20-Pay $2,938 –