The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1880-06-17

HONORABLE DEALING.

"NoAAIN LAhMILE VI IuE MANNEh IN
WHICH THE EQUITABLE LIFE ASSURANCE
COMPANY DEALS WITH IT'S PATRONS.
New York Commercial Advertiser.
The business promptness that character
ICES the action Of the Equitable Life Assn
rance society OF the United States has be-
come proverbal, and it is with great pleas
urc therefore that we refer to another case
which again shows the manner in which
business is conducted by that institution.
This case can best be introduced by the
following letter:
ENGLEwoOD N. j., April 90.
TO the Equitable Life Assurance society Of the
Cnited States:
GENTLEMEN Il desire to express my ap-
probation Of the honorable settlement
made by your society Of a policy on the
life Of my late husband, Charles r. Ches-
ter; payment Of which might easily have
been refused if you had felt inclined to
take advantage Of his Inadvcrtence, espe-
cially as what was known to me to be an
inadvertence admitted of an altogether
different Interpretation. (SignedD
LUcRETIA l.. CHESTER.
Investigation revealed the facts of the
case to be as follows: On the 9Th day of
July, 1868, the Equitable issued an insur-
ance on the life of the late Charles r.
Chester. On the 9th day Of July, 1870,
owing to reverses, Mr.. Chester was unable
TO pay the premium, and after the lapse of
the usual grace of ninety days, this policy
was declared null and void for non pay
ment of premium. Some months elapsed,
and MIR. Chester died. Among his papers
was found this forfeited policy of insurance,
containing within its folds brief note ad-
dressed to the Equitable Life Assurance
society by the beneficiary (Mr. Chesters
wite), requesting the company to issue a
paid up policy,
Upon this letter being shown to the
widow she stated that she had written il at
the request of her husband and given it to
him to be delivered TO the society within
the ninety days Of grace, during which she
had right to ask for paid-up policy,
adding that her husband no doubt had
placed it in his safe, intending to deliver
it, but through the multifarious business
troubles pressing upon his mind, he had in
advertently left the papers without making
a proper delivery Of them to the society.
This letter, together with the facts, was
brought before the officers of the Equitable
Life Assurance society few days ago by
the beneficiary, with misgivings, however,
knowing that the policy had been forfeited.
A diligent search was Immediately made
among the records Of the company, and it
was found that on the 18th day of May,
1879, Mr.. Chester called and asked for what
amount a paid-up policy would be issued
to his wife, and calculation was made
showing that it would amomnt TO the sum
of sixteen hundred and thirty dollars 81
63e), provided the policy was surrendered
upon the written request of the beneficiary
(his wite) within the time limited by the
contract in question.
With these facts before them the
officers decided that it was evil
IDENTIFY case of good faith,
and had Mrs. Chesters letter been de-
livered to them at the proper time, instead
of being placed by her husband in his
safe, policy would have been issue;i for
the sum named, viz, 81 $50. 1t was there
fore determined TO accept proofs of loss
from the beneficiary for this amount, and
the money has been paid to the widow.
The policy holders of this institution
have reason TO be thankful that its affairs
are administered by men whose first con-
sidera.ion is honor. This is the same CON-
pany that refused TO join In contesting the
claims of the widow of the late Colonel
Dwight, of Binghamton, being the only
company which paid its policy of $50, 900
As a further evidence of its good faith
with the public, it has lately made all its
policies incontestble
Such fair dealing cannot fail to bring
its own reward through an increased pat
ronage, and which we learn this society is
receiving.