The agreement between the Jewish National Fund and the Phoenix Insurance Company, under which the former benefits from insurance policies written under the terms of the agreement, has been consistently maintained since before the War and has lately been renewed with increased benefits for the Jewish National Fund. The Phoenix was willing to guarantee to the Jewish National Fund a minimum annual sum of $25,000 and its confidence has been justified. While in 1925, insurance written under the agreement was for $1,600,000 in five countries, it has increased to $12,500,000 in 1929, in 17 countries. The total insurance business written under the arrangement amounts to $27,500,000.
The National Fund has hitherto received, at no expense to itself whatsoever, the sum of $165,000. The new agreement with the Phoenix Company provides for the progressive increase of the guaranteed minimum, which will gradually reach $50,000 per annum. The Phoenix Insurance Company also invests in Palestine, in consequence of this arrangement, and the new Zionist headquarters in Jerusalem are being built as a result of financial assistance on favorable terms from the Phoenix.
By decision of the Zionist Congress, the Jewish National Fund is among Zionist institutions, given a monopoly of insurance propaganda. In the United States, the Order Sons of Zion has encouraged its members to insure themselves on behalf of the Jewish National Fund and lately, the Equitable Life Assurance Society of the U. S. A. has undertaken a plan for bequest insurance in favor of the National Fund. The Judea Life Insurance Company in the U. S. A. has many insurance policies in aid of the J. N. F.