The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1881-05-04

Offices Seattle, W T. and l02 First Street Portland or.
To the man at all familiar with life insurance law or
the OF ordinary intelligence. we need not say
that this advertisement conveys false impression
that il il intended deceive and deude the people
into the belief that the state Of California guarantees
the payment Of all policies issued by the Mutual Life
Insurance Company. The man who pays his money TO
the agents Of this Company on the assumption that the
assertion nrde in the above advertisement Is true, will
likely robbed. How much-how very little-the State
OF California guarantees the payment OF tue policies
issued by this deceptive and fear, but udintTenty
honest Life Insurance Company will be definitely and
exactly learned by those who read the following COM
munication:
These concerns have resorted to almost every
conceivable device sell their policies The local
board system was iaFuTie decoy- Tor the time win
half dczen OF them now nearly an IN Dankruptey.
But the registered policy system (socaedl. which
originated and exploded in New York as a fraud, Is
probably the most wicked. because the most ms
chsyous. Ry this rule il Is sought give the impress
sion that whore life insurance companies are permitted
10 register policy with an ocer Of state Geposlilng
the reserve net value Of the same that the state
becomes responsible TO the insured fo the amount Of
the policy. and guarantees us payment.
For more than 4 year past the statement has been
streets and has confronted every reader in
Oregon; We give policy guaranteed by the state Of
Z California This Is saying. in effect, 10 persons
desiring the protection Of life and endowment as
all other companies Of questionable safety
buy our policies: the great State OF California viii
guarantee 10 pay them II we don't. We had hoped
decent respect Tor truth in the absence Of modesty
would ere this have stayed this presumption Of
ignorance the part OF our people and foTbeaFance
in the friends Of genuine life Insurance; but dis
appOin ted in this pg9tect others. who without
the means Of better information at hand from being
misled we VIII uncover this deception.
In the explanations we viii give, We are sustained
by authorities unquestionabc. The policy registry act
of California see section 634 political code requires
deposit hy the company vi amount equal 20 the full
net yalte of all policies registered up 10 the tine OF
masking aid deposits etc The reader may ask What
is this full Tsue =: We answer; The iu net value
policy i the difference between the present value
Of the insured and the preeLt value OF the future
payments TO be made secure it. Lest this answer
may be clear all readers viii give an ex-
ample furnished by Parks Faekler, an eminent aetuary
ana insurance writer:
The net value. CT reserve Of life policy of Sio0,
issued the aye OF - years, i foliows First year
ss.60; second year, Sl545 third year. SZ3j6 fourth
ycar, S3i.iU; dfh year. 5000. etc
This enables registered policy holder to zee just
how much Of his money has into the treasury Of
the state. should the insured tin the sboye e1ampel
die. having paid five years. the company all liaye re
ceived from him about SSH only S40-Si OF which had
been turned 10 the State Of California he state
holds as we see. $3.50 u his money Il il probable
that it viii pay HE family S1OU0 in the event OF the
colapanys failure Not mach And no sa-ie Legis-
at would make law airing IL 10 do 50 much
sor what the registered policy system