The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1881-09-03
GRAVEYARD LIFE
ANCE.
How Aged Ncn and Woman arc
Dipped by Agents.A Prosper.
Gus Farmer R ufmcsl.

CltN bp-WtN ItSuiltV III uH CAposutS
of the methods Of those engaged in
the business ofgraveyard insurance.
An old man bent with intirmities and
q misspent life, brought suit against
an agent to recover $25. The money
he said had been promised him for
the privilege Of insuring his life, but
the agent refused to pay the amount.
The prosecutor Is professional
in the business of having risks taken
on his life, he playing the part of a
dying man, when in reality his health
is as good as the average man of his
time of life. These professionals
charge IS per $1,000, but it seems
they are dupcd by many agents In
the following manner:
A professional consents to be in
sured for 81, 900 and is paid IS cash.
Generally speaking he never reads
what he signs, nor does he care much
what it is. He thinks the papers are
for an application for single policy
for 81 900. The agent who has him
in hand gets his signatures half a
dozen times on as many different pa
pers. He is told that it is necessary
as the company is very strict one.
The truth is, the old man has signed
three or four policies, for 81 900, ST.
600, $4,000 and $4,000, for which,
however he receives "A single fee of SIS
only. He imagines that he has been
insured for $1,000, whereas the
amount is $1,000. This is the way
in which such large sums Of insur-
ance are placed on the lives Of the old
people Old women helpless and par
alytic, poor and palsied, are hood
winked in the same way The agents
then peddle the policies around the
country to whoever will buy. This
"watered stock as it is called forms
leading article for barter in many
back county marts. 1t is a common
expression that you can't throw n
stone in eastern Pennsylvania with
out hitting a graveyard life insurance
agent with policies to sell. lie has
paid SIS to the subject and owns $ll, :
900 worth of policies. They are in
AL companies that pay full foce value
of the policy. The agent thus carries
on his sale
Snow sir, privately, you know be-
tween you and me, this policy for 50,
600 cost me $40 before gotit issued
by the company. Lie No. l.. The
subject is a good one, first class; won't
live six months. Lie No. 2. Now,
the policy just as it is cost me $25.
Lie No 3. Twill let you have it
for $50 and | would not be bit sur
prised but what you'd hear Of the old
paralyzed skeleton being dead in less
than six months" Lie No. a
The policy is sold and duly assign
ed, for which the company receives
81, the agent makes $40, and the
holder of the policy hunts up his
subject to inspect him and speculate
upon the probability of his early dc
mise. 1t is safe to say there is more
money made in the sale of the policies
than in any other branch of the ncfa
rious traffic.
An aged woman consents to have
her life insured FIVE times by as ma
ny different parties for 81 900 each.
She then supposcs there is $4,000 in
surance on her life, whereas she has
been trickcd and dupcd, and in real
ity there is $4,000 on her, which If
she knew all the facts would startle
her out of her wits. These aged pco-
pie never do know how much insur-
ance is on their lives. An old woman
down the country boosted the other
day that she was insured for $40, 900.
The fact is (but she docs not know
it, she is insured for 100000, and
the policies are beld by her neighbors
who are anxiously watching and pray
ing for her death. She is lively as a
cricket and laughs at the idea of her
dying for the next ten years. To
her intimate friends she says: "Oh,
they'll all get tired of this business
before I'm half ready to die"
One of the leading young attorneys
at this bar to-day remarked: This
insurance mania is n terrible thing.
A few years ago client of mine, down
country owned fine farm clear of all
debt and had money in bank and a
good credit everywhere. He was in
duccd to 60 into this graveyard life
instance speculation, and it has ut
terly ruined him. Why, his monthly
assessments amount to nearly 500.
He carries policies on old men and
old women, but they do not die.
When the policies were sold to him
the agents represented the subjects
to be half way in their graves. The
assessments rain in ON him, and for
three years he has been bled until
now his farm, his home, his all, have
been swept from him, his credit at
bank is gone, and he is on the verge
of despair. In few months he will
have to throw up his policies. They
are bad stock, and nobody will buy
them. He cannot unload His ruin
is complete. There are many others
Just like him. Farms are going down
in neglect and families heretofore
prosperous are being ruined. No
wonder that men are tempted to MUIR
der those they have insured and who
will not die. About. week ago the
farmer allude to had death occur
b his favor for $4,000, but when he