West-Jersey pioneer., 1878-07-25
LIFE INSURANCE.
LETTER FROM MAN WHO WANTS TIC
KNOW YOU KNOW.


The New York Tribune publishes the fol-
lowing letter from puzzled policy holder,
who was insured on the ''half note plan"
It is stated that the actuary explained ma
ters so satisfactorily that the writer of til
letter decided to keep up the policy instead
of insisting on getting out; but whether this
decision was the result Of hopeless despair
or of renewed hope, there is no means of
knowing. 1t is matter of regret that the
effective explanation is not obtainable:-
'NEw YORK, May 81, 1878.
Mr.-, Vice President, etc.-Dear
Sir:-1 am in receipt of postal card advis-
ing that my next annual premium POLICY
No 43, 369) is $147.03. Thereby | am re-
minded that the life insurance business, as
managed by your company, is like the prov
idence of God, ''past finding out" 1 be-
gan paying $50 cash and $52 note on this
policy in 1867. 1t seemed an inexpensive
luxury. 1t would have been if had died.
| unhappily 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 short
ly exceed in its demands my ability to an
swer, and shall see it die on my hands -
The steady and constant increase in the
amount of the premium on this policy be-
gan to excite my curiosity, not to say my
admiration, several years ago. The agent
to whom applied for enlightment-I have
passed through the hands of five or six,
each of whom has amassed competence
and retired--so overwhelmed me with math-
ematics of the most mixed and abstruse
character that fell back from the investi-
cation greatly humiliated at my own igno-
rance and profoundly impressed with the
resources of-either the company or the
agent could not decide which. l think |
realize, and hope | appreciate gratefully,
the beneficent operation of this steady pro-
gression in cost of the policy. 1t makes
one contemplate death with resignation and
to look upon that consummution as a check
mate to the company. Did you ever think
how Booth or John Mccullough might i'm
prove 'Hamlet's' soliquy, and thrill any Or
binary audience by just holding up one of
of your life insurance policies suiting the
action of the word at the passage-'There' 8
the respect that makes calamity of so long
life ?''
"But | fear trespass on your time. Is
it true that insurance officials, notwithstand-
ing the meagreness of their salaries, are
overworked? | will come at once to bust
ness. 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.O3 upon a policy the an
nual premium on which was $132 ten wears
ago. At this rate of increase, and with
my discouragingly sound health, | cannot
undertake to compete with the company.
am aware of course that 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 consideration due one in the sea, and
| yet | would like to know whether Policy
No. 1859 has any surrender value. Can
you give me any information on the subject?
| am already in possession of a considera-
BILE accumulation of tracts, phamphlets,
circulars, almanacs, calendars, and extracts
from religious newspapers which afford
abundant knowledge as to the facilities and
methods for getting in to life insurance
what | seek now is information how to get
out.
"Pardon me, sir, if | have used too great
familiarity in addressing man whose ac-
quaintance with logarithm 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
representative OF $27, 000, ,OO0-if that's the
fgure-of assets. l address you because
your name appears on the seductive postal
card which invites me too add $147 03 to
the $27,000,000. 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
DR.. Ayers celebrated compound catbartic
pills to the elders of the church at Ephesus,
None of these things move me-. But there
may be some one in your employ 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 intelligence of such statesman as Dan
i iel Webster. what is all this worth q
But then Webster knew scarcely anything
about life insurance.
''Yours, very respectfully"