The Republican. [volume] (Oakland, Md.) 1877-current, 1877-09-15
Life Insurance---A Letter from Vic
tim.

THE following very pertinent letter on
the little-understood subject of life in
surance is from a New York paper, and
will be read with interest:
Mr., Vice President, ETC.:
Dear Sri am in receipt of postal
card advising that my next annual pre-
MUM (policy Ne. 1850 is $14703.
Thereby am reminded that the life in
surance business, as managed by your
company, is, like the providence of God,
past finding out l began paying
eighty dollars cash and tifty-two dollars
note on this policy in 1857. 1t seemed an
inexpensive luxury. 1t would have been
if had died. Iunhappily survived, and
now for ten years have been struggling as
much to keep the policy as myself alive.
But the appetite of this policy, l observe,
does grow by what it feeds on, and the
danger is that it will shortly exceed in
its demands my ability to answer, and l
shall see it die on my hands. The steady
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 applied forenlightenment--I have
passed through the hands of five or six,
each, of whom has amassed a fortune
and retired-sO overwhelmed me with
mathematics of the most mixed and alb
struse character that l fell back from the
investigation greatly Inundated at my
own ignorance, and profoundly impressed
with the resources of either the company
or the agent, l could not decide which. l
think l realize, and l hope l appreciate
gratefully, the beneficent operation of
this steady progression in cost of the
policy. 1t makes one contemplate death
with resignation, and TO look upon that
consummation as Checkmate to the COM
pany. Did YOU ever think how Booth or
John Mccullough might improve Ham
let's soliloquy and thrill any ordinary au-
dience by holding up one of your life in
surance policies as suiting 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, notwith-
standing the meagerness of their salaries,
are Ovcrworked? l will come at once to
business. l need not trace the steady,
upward progress of these premiums. Suf-
ficient that last year paid $112.75, and
this year you call for $14703 upon pol
icy the annual premium on which was
1892 ten years ago. At this rate of in
crease, and with my discouragingly sound
health, cannot undertake to compete
with company. am aware, of course,
that a policy-holder who has paid ten
annual premiums can hardly expect the
consideration due those who, not being
insured, seek information. Being fish
in the basket, do not expect the consid-
Grafton due one in the sea, and yet 1
aoOuLd like to know whether policy No.
1863 has any surrender value? Can
you give me any information on the sub
iect? l am already in possession of
considerable accumulation of tracts,
pamphlets, circulars, almanacs, calen-
dars, and extracts from religious news
papers which afford abundant knowledge
as to the facilities and methods for get
ting in to life insurance; what seek now
is information how to get ont.
Pardon me, sir, if l have used too
great familiarity in addressing man
whose acquaintance with logarithms and
mortality tables and the different calcu-
lus entities him to the name of benefac-
tor and the salary of actuary. l am not
Ignorant what is due the representative
of 1927, 900, 000-if that's the figure-of
assets. l address you because your name
appears on the seductive postal-card
which invites me to add $147,03 to the
$27 100000. presume you are no stran-
ger to the complaints of disappointed pol
icy-holders. But there may be some one in
youremploy who can show me the cheapest
way out. Will you please refer me to
him, that | may present my policy and
receipts and things with the conundrum
which at one time staggered the intelli-
gence of such a statesman as Daniel
Webster: What is all this worth?' But
then Webster knew scarcely anything
about life insurance. Yours, very re-
spectfully."