The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1873-06-05

tensions and the practice Of the Life
Insurance systsm OF the United States.
Al now constituted. We regard IL .
vast deception, which works much
good, 1t il true, but also very great
evil, and Is very far below what IL
ought to Be.
That journal contained An article on
Life Inaurancs - promotivs ofiongev-
ity and business success, written en-
tirely In favor Of insuring. Now the
experience Of years In large city, in
timately mixing with all classes Of
population, has brought repeatedly to
our notice instances Of men who are
leading reckless and diasipeted lives,
spending all their income, negligsnt
In their avocations, and though mar
ried and with children, always ready,
when demonstrated with, with tho
excuse, II have my life insured for ten
thousand dollars. 1 keep up the policy.
My family u provided for. Why
should I saver" But month or two
ago . literary man. . professional
writer. OF fair reputation, used this ar-
gument to US. We have heard 1t ~
peatedly. We have even heard insu-
rance agents put 1t - an excellent
reason why one should insure. "You
need not be afraid" We have heard
them say to Iaboring men, ITO take
glass Of beer, or have jolly time now
and then 1t the tavern with your ceo-
nies; take policy, pay the premiums,
and your family IL provided for better
than II you spared and saved, and de-
MED yourself your beer and jollihoA'
tions.n
This develish temptation We have
heard often, aud witnessed Its effects.
and they were directly the opposite Of
what the author above referred to
would have Us believe.
or the falsity of many physical ex-
aminations for life insurance, and the
enforced and degrading subservisncy
of too many medical examiner TO the
local agent, We have before spoken.
It 10 notorious and indisputable. The
enormous commission given to agents.
from twenty to day per cent. (the lat
ter figure by one woii-known compa-
N.Y., and these unsafe risks are paid,
how? BY deliberate system Of de-
ceiving the insured; system which II
sure to catch him la one net, II not In
another.
The plan Of forfeiting absolutely
policies when the premiums are not
punctually paid IL such An open and
deliberate plundering. and 30 distaste-
ful to the public, that many companies
have given it up, or conceal it by vari-
GUS devices. But one company. at
least, with barefaced sudacity. adver-
tises that these forfeited policies pay
all its expenses.
The plan Of having the insured give
notes in part payment for his premi-
um, which, theoretically, his share Of
the profits In mutual companies 10 to
pay, il popular and seductive. In
practice. the insured (oR the ''risk,"
as he Is technically and very appropri-
ately termed), discovers to his aston
ishmsnt that year by year the cash he
has to pay the interest on the constant
ly increasing indebtedness.
1t is further notorious and demon.
strated that the Expectation of Life.
as calculated from the Tables in use
In this country, is false and unfair to
the insured. In the last Repatriation
Report Of Michigan this was proven In
detail, ~ we showed ct the time.
There is not even an effort at honesty
In this direction.
When everything else fails, . compa-
ny cannot refuse to pay the amount Of
q policy on some plea. Within the
last month we have noticed three such
cases before the courts, every one Of
which has been decided against the
One was the Mutual Life
Insurance Company Of New York vs..
Ferry. The company had refused to
pay the insurance on the life Of per.
ION who committed suicide by taking
poison. The facts show that the rea-
ION Of deceased had become $50 i'm
,aired by insanity that his suicide was
lot his voluntary intelligent act" On
hese facts the court holds that the
ompany is liable, although the policy
. provision against suicide.
rs this was In the Supreme Court Of
he United States it will be Of perma-
lent binding. That company should
trive to evade payment because per-
on died of an incident common to
lisease Of the brain, IL surprising.
In second case the company's plea
vas that he had concealed the fact
hat he was suffering from incipient
and on this account had
'een previously rejected by other
The charge 10 the jury
vas to the effect that II such conceal
nent had been committed 1t was SUM-
lent to vitiate tho policy. The jury
however, did not think there had been
my deception, and brought In Q YER
lict against the company for the full
um named In the policy and the in
crest and dividends accrued thereon
ince his death.
On this the Public Ledger, Of this
ity, remarks s:-"This verdict will be
lady received by the legion Of insur-
rs, who look with alarm upon the
tendency to resist payment
n the part Of some life insurance
whose representatives are
nxious enough to collect premiums
rom their customers, but regard 1t q
uite different matter when, after
|eath, the widows and orphans ask
or the money due them in return"
Many general agents have incomes
rom ten thousand to thirty thousand
ollars year; directors grow rich;
nd the heirs Of prominent citizens.
re paid promptly, and the fact pub.
Ished In all the papers. But the poor
Widows, the unprotected orphans, are