Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1888-12-13
no MAN KN0WETH
Upon Losses Occurring During the
Year In Which Policies
Are Issued.


Year In Which Policies
Are Issued.
The Prompt Settlement or the Policy Up
on the Life Of the Late Theodore
=. Van Hovan.
BY the rev York Life insurance Company
Issued IN July. Died in August. Claim
Paid In September Open Letter.
When approached upon tho subject Of
life insurance business men will often adj
nit that they know not the day nor hottr
wlaes they will be called upon to sur
render all earthly possessions to loved
ones and claim their e'ernal inheritance,
but few indeed renlize how near at hand
that day and honr may DO until, per
chance, come, young. healthy busy man
is snatched from our midst by the death
messenger. Tho late Theodore Ell. Van
Hopen, OF the firm OF Vnn Hoven d Coz
live stock cornnaission merchants of this
CITY, little thought when making appli-
cation for an insurance policy in the lat
ter part Of July that. Within ten days
he world be taken sick never to re-
cover, and yet his action in taking in
surance indicates that he realized DEATH
might come any time must come some
time and that he could not delay maxi
ing a provision SO wise and important to
his family. Had he delayed SO doing a
few days even his estate would have been
poorer by $4,000. The following open
letter gives the facts in regard to his in
suranco with the New York Life taken
through General Agent Gilbert a.. Smith :;
OcToBER l. 1883.
G.. A. Smith, Esq, General Agent New York Life
Insurance Company.
DEAN SIR:I beg to acknowledge re-
ceipt Of your company's check on Chem-~
ical National bank of New York for FIVE
thousand and seventy three dollars and
twenty five cents( Sc, 073.25) in payment
of your policy No. 288,578. on the life
OF my deceased husband, Theodore Ill.,.
Van Hoven. It's due you and the New
York Life, as well as the public, that the
exact circumstances connected with the
settlement be made known. Mn. Van
Hoven applied to your company through
You for $4,000 insurance on your 6ye-
year plan on the 25th of last July, when
in sound health and every reason to. be-
lieve he would live to reap the benefits Of
the insurance himself at the maturity of
the policy. The application was accept
ed and your policy issued under date of
August 8, and within the Same month
my husband was taken sick and died
with typhoid fever. The necessary pa
pers were made out under your suPervis-
ion, without trouble or expense to my
self, and forwarded to the company on
September %, the delay in signing pa
pers being occasioned by the absence of
one Of the parties who had to make a
statement. On September rs, Just two
months from the day my husband made
application for the policy, the company's
check was drawn and sent me in pay
ment of the claim. Such promptness
and attention on your part and the part
OF the company cannot be too warmly
commended.
The one thing we do not understand
is why your check is for S73.25 more
than the face of the policy You. say it
is dividend of so per cent. of the prem
ium my husband paid you, or one-half
of his premium returtIeh- We do not
understand this, but we do appreciate
the great liberalitY and fair dealing of
the company, and will take pleasure in
recommt nding the New York Life to. my
friends and the friends Of my late hus-
band as the company in which to insure.
We learn also that your company has
for many years written the largesb in
surance of any company in this state,
and now see the reason why. Yours
respectfully,
Signed CATHERINE VAN HovES.
The insurance companies of this coun-
| try paid out nearly 81, 900, 900 last year
in just such losses death occurring the
first year of the policy. The New York
Life Insurance company alone paid dur
ing the year 1887 $380,000 as death
policies taken within twelve months prior
to death. This company has for many
years done the largest and most success
full business in Iowa of all the companies
under Gilbert A. Smith, its general agent
writing during the last eight years over
SO per cent. more business than any of
it's competitors: The following figures
taken from Investigator life chart gives
the facts
BY THE FOUR LEADING COMPANIES.
New insurance written in the state OF
Iowa during the eight year ending Jan
uary /, 1888:
New York Life. So, 700 OOO
Northwestern. ....................... a.3U0000
Equltapie o,.Nu0 o
The following table shows the won
derful growth Of the New York Life's
premium income in. this state as COM
pared with other leading companies
odd dollars and cents omitted):
PREMIUMS RECEIVED IN IOWA.
New York Life ........-.. SI8I,000 S 81 600
EQpitahle NONCOMPLIANCE lS5,UD 6LuV
tNfFtiiwestern. .......-. l6a,WW lo.Wn
Mutual Life. .......,,......... 16O,OO0 Iu6Ub
While the New York Life has wEittna
much more business during the past
eight or more years in Iowa than any
other company, and as to premium re-
ceipts has risen from the fourth plaes, in
1850 to- the first in 1887, it is very graft
flying to the members of this company
to.note that its death rate has BEEN kept
to the lowest possible point, as the fol
lowing table illustrates:
Ratio OF death
Death claims claims paid to
4 Ia -. srxxxx aex.