St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1877-07-27
Life Insurance.
A LETTER FROM ONE WHO COULDN'T
UNDERSTAND IT.
From he Tribune

UNDERSTAND 1T.
From the N Y Tribune
We are permitted to publish (omit-
ting names) the following letter, writ
ten by gentleman who was insured
on the "half note plan" in one of our
leading life insurance companies, in re-
ply to the company's notification of the
amount due on the policy. 1t will be
read, no doubt, with sympathetic in
terest by many policy holders who 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, instead
of insisting upon getting out, the writer
of the letter decided to keep up the
policy
NEW YORK, May 81, 1S77.-Mr.-,
Vice President, etc.-Dear Sir: l am in
receipt of postal card advising that my
next annual premium (policy No. 43,
1867 is $147 ,03. Thereby am remind
ed that the life insurance business, as
managed by your company, is like the
providence of God, "past finding out
began paying $50 cash and $50 note
on this policy in 1867. 1t seemed an
inexpensive luxury. 1t would have
been if | had died. | unhappily sur
vived, and now for ten years have been
struggling as much to keep the policy
as myself alive. But the appetite OF
this policy, | 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 shall see il
die on my hands. The steady and con-
slant increase in the amount of the pre-
MUM on this policy began to excite my
curiosity, not to say my admiration,
several years ago. The agent to whom
| applied for nlightment-Ih have pass
ed through the hands of five or six, each
of whom has amassed a competence
and retired-so overwhelmed me with
mathematics of the most mixed and alb
struse character that | fell back from
the investigation greatly Inundated at
my own ignorance, and profoundly
impressed with the resources of-eitheI
the company or the agent, l could not
decide which. | think | realize, and |
hope | appreciate gratefully, the bene-
ticent operation of this steady progress
sion in cost of the policy. 1t makes
one contemplate death with resignation,
and to look upon that contamination
as checkmate to the company. Did
you ever think how Booth or John
Mccullough might improve Hamlet's
soliloquy and thrill any ordinary audi
ence by just holding up one of your
life insurance policies as suiting the
action to the word, at the passage
''There's the respect that makes calam-
ity of so long life?"
But | fear | trespass on your time.
Is it true that insurance officials, not
withstanding the meagreness of their
salaries, are OverwOrked | will come
at once to business. | need not trace
the steady, upward progress of these
premiums. Sufficient that last year |
paid $II2.75, and this year you call fol
$147.O3 upon policy the annual pre-
MUM on which was $50 ten years ago.
At this rate of increase, and with my
discOuragingly sound health, cannot
undertake to compete with the compa-
ny. l am aware, of course, that a pol
icy-holder who has paid ten annual pre-
miums can hardly expect the consider
alton due those who, not being insured.
seek information. Being a fish in the
. oash5C, uo not eApec' ,he consluera,
t 1iol uue Que III Ine sea, ana YET l would would
IKE 10 Know Wnelher poiicy NO. 43,;369
has ia any i Suirenoer value: gan you give
,o a any ,dro IN ,nno "sn Oh .ie sucJecI
' 'hi' ",,os ~ Possession vi conSiuer-
a a;1' u' ni' Vi .lacts' Painpn'ets'
tracts from religious newspapers which
afford abundant knowledge as to the
tacliitles ana methods Tor getting into
lie insurance; what L now seek is in
formation how to get out.
fardon me, SIT, II nave used too
great familiarity IN addressing man