The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1877-09-15
THE "HALF.NofE. PLAN. :
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A Di0gusted Policy-holder's Letter TO
Life Inouranoo Omcial.


The New York 1si5nre says: We
are permitted to publish (omitting
names) the following letter, writer BY
gentleman who was insured OF the
half-note plan" IN one of our Lading
life insurance companies, in reply to the
company's notification of the amount
due on the policy. It viii be read. no
doubt, with sympathetic interest by
many policy-holders who have had
similar struggles with the mysterious
mathematics Of this kind of insurance.
1t should be stated, in fairness to the
company, that the explanation Of the
Actuary was so satisfactory that, in
stead Of insisting upon getting out, the
writer of the letter decided to keep up
the policy:
a'-. NEW YORK, May 81, ls77.
DEAR SIR am in receipt of postal
card advising that my next annual pre-
MUM POLICY No. A, 1869 is $147 .03.
Thereby 1 am reminded that the life in
surance business, as managed by your
company, is like the providence Of God,
"past finding out" began paying
$50 cash and $52 note on this policy, in
1867. It seemed an expensive luxury.
It would have been if had died. I'M
happily survived, and now for ten years
have been struggling as much to keep
the policy as myself alive. But the ap-
petite of this policy, I observe, does
grow by what it feeds on, and the dan
ger is that it will shortly exceed in its
demands my ability to answer, and ]
oho1l cnu e 1;o ~, nv, hopIc Tho cyoo1v
and constant increase in the amount of
the premium on this policy began to ex-
cite my curiosity, not to say my admira-
ton, several years ago. The agent to
whom 1 applied for enlightenment-I
have passed through the hands of five or
six, each of whom has amassed COM
petence and retired-so overwhelmed
me with mathematics of the most mixed
and abstruse character that l fell back
from the investigation greatly humiliat-
ed at my own ignorance, and profound
ly impressed with the resources of-eith-
er the company or the agent, 1 could
not decide which. think realize, and
/ hope appreciate gratefully, the benefi-
cent operation of this steady progression
in the cost of the policy. It makes one
contemplate death with resignation, and
to look upon that contamination as a
checkmate to the company. Did you
ever think how Booth or John McCul-
Tough might improve Hamlet's solilo-
guy and thrill any ordinary audience
by just holding up one of your life in
surance policies as suiting the action to
the word, at the passage: "There's the
respect that makes calamity of so long
life?"
But fear trespass on your time
Is it true that insurance officials, not
withstanding the meagerness of their
salaries, are overworked? will come
at once to business. l need not trace
the steady, upward progress of these
premiums. Sufficient that last year l
paid $112.75, and this year you call for
$147.03 upon a policy, the annual pre-
niums on which was 1882 ten years
ago. At this rate of increase, and with
my discouragingly sound health, I can
not undertake to compete with the COM
pany. / am aware, of course, that q
policy-holder who has paid ten annual
premiums can hardly expect the consid-
Grafton due those who, not being in
sured, seek information. Being a fish
in the basket, I do not expect the con-
sideration due one in the sea, and yet
would like to know whether policy No.
AZ, 1863 has any surrender value. Can
you give me any information on the SUBJ
ject? I am already in possession of a
considerable accumulation of tracts,
pamphlets, circulars, almanacs, calen-
OARS and extracts from religious news
papers, which afford abundant knowl-
edge as to the facilities and methods for
getting into life insurance; what seek
now IS how to get out.
Pardon me, sir, if have used too
great familiarity in addressing a man
whose acquaintance with logarithms
and mortality tables and the differential
calculus entities him to the name of
benefactor and the salary of actuary. l
am not ignorant what is due the repre-
sentative of 1921, 900, OO0-if that's the
fgure-of assets. address you be-
cause your name appears on the seduc-
tive postal card which invites me to add
$147.O3 to the $57 ,OOO, 900. l presume
you are no stranger to the complaints
of disappointed policy-hOlders, and it is
not improbable that you dismiss them
all with the remark of the Apostle Paul
upon returning a box of DIR. Ayers Gel
ebrated compound cathartic pills to the
elders of the church of Ephesus, s'None
of these things move me-" But there
may be some one in your employ who
can show me the cheapest way out.
viii you please refer me to him, that l
may present my policy and receipts and
things with the conundrum which at
one time staggered the intelligence Of
such statesman as Daniel Webster,
"What is all this worth?" But then
Webster knew scarcely any thing about
life insurance.