New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-16
A CLERGYMANS LIFE INSURANCE POLICE

To The Editor Of The Tribune.
SIR: My attention is called to Mr.. II. A
Richardson's experience with the Knckerboeker Life
Insurance Company Of New-York, In THE TRIBUNE OF
this date Permit me to mention my experience with
this company. hold life policy issued In February,
1864 in favor of my family, my life, for $1,000 with
profits and for e In July last learned that there was
doubt to the standing OF this company Ny
next quarterly payment was due August TO- 1881 and
up TO that date every thing had been paid fully In cash.
wrote to Mr. j. A Nichols president, at the Broadway
Office about a week before the 10th asking that my
policy be changed for paidup policy and that be in
formed before that date whether 1t would be done.
did not hear word from him. 1 wrote to Secretary
suifen but received no letter did send the money
for the premium from this fact alone.
NY policy states In the holder OF this policy
wishes to cancel it after three annual premiums have
been paid fair proportion OF the premium Will be
turned if applied for before the policy has expired" l.
then sent Mr.. n. b. Swan to the office with
renewed written demand and the policy, He was
told that they would write here in few days. On
August 81 Mr.. Hibbard wrote an Acknowledgement OF
the receipt OF my letter through Mr.. Swan and said:
Policy 1912 apsed August 10, 1881, for nonpayment
Of the amount then due and by its terms expired and be-
came null and void The company therefore declines to
issue pad-up policy for any in cash for its sur
render The only privilege the company can extend TO
Dir that of application for restoration in accord
with the rules established respecting apsed policies
which require tnat ne snail make
pcaton furnish q satisfactory medical examination
and pay all and charges with interest In cash.
called Hbbards attention 10 pamphlet Issued by MS
company and placed in my hands in the otdee by j. A
Nichols ten years ago last August, which says; All
policies issued by the knickerbocker Life insurance
Company nOnfOrfeabe to the extent or their sur
value three annual premiums nave been paid
provided application for such surrender value IS
within thirty days after failure TO pay premiums
and that his own acknowledgment in his letter was tnt
he had received the latter seventeen days after suen
time Afterward Mr. Chester WOlverten, o lawyer Oh
No 243 Broadway told by the officers OF this COM
pany that my letters had all been received. have,
through friends and by personal ssougn 70 see
J. A. Nichols but he has been absent have written Nun
at his residence IN Brooklyn and received answer Al
my last vlsit the Office November II think was
renewal OF policy must consent 70 nave the item
inserted that three should not apply Ior
paid-up policy have left the matter just here so ar
"a the company concerned, IwrOe To Mr. tarlnan,
Superintendent OF the Insurance Department, ana MA
latter of December 90 1881 says No power is gwen
10 me 10 compel the company to perform what seems TO
be lust and equitable 10 you III THIS matter your
remedy is in the law wish could aid you IN procui
ing what to be your due, but unfortunately Is
not within my power" 800. ,,..,
am Baptist pastor Of this town. and have long been
n reader of your paper My income is very moderate,
have paid these men s63 and seems hard thing 70
be thus robbed, when have faithfully done my part IN
the contract learn from lawyers In the ofces near
tbe Knckerbocker that many have made complaints Oh
like treatment but Of these many were poor ana not ac
0uaiuted with the laws Ia IL not about time that some
one was held 10 stern account I TINS company Is
stock company Are not its directors personally liable
VonTs trIiiv ISAAC n. HILL,
Pastor OF Baptist Church.
Clinton Hitnerdon Co., ". j., Jan. 4, 1882.