Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1888-12-20
NO MAN KN0WETH
The Hour Hundreds Of Thousands
Of Dollars Paid Annually By
Life Insurance Companies
Upon Losses Occurring During the
Year In Which Policies
Are Issued.


The Prompts settlement Of the Policy Up
on the Life Of the Late Theodore
b. van Hoven.
By the New York Life Insurance Company
Issued in July, Died in August. Claim
Paid In September Open Letter
When approached upon the subject Of
life insurance business men will often adj
NIT that they know not the day nor hour
when they win be called upon to sur
render all earthly possessions to loved
ones and claim their 9. ernal inheritance,
but few indeed realize how near at hand
that day and hour may be until, per-
chance, some young, healthy busy man
is snatched from our midst by the death
messenger The late Theodore III. Van
Hoven, OF the firm of Van Hovcn 4 Co.,
live stock commission 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 would 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 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
surance with the New York Life taken
through General Agent Gilbert A. Smith:
OoToBEn 1. 1885,
G. A. Smith, Esq, General Agent New York Life
Insurance Company.
DEAR 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( S., 073.25) in payment
of your policy No. 28S,578 on the life
of my deceased husband, Theodore II.
Van Hoven. tits due you and the New
York Life, as well as the public, that the
exact circumstances connected with the
settlement be made known. Mr.. Van
Hoven applied to your company through
you for 5000 insurance on your FIVE
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 3, and within the same month
MY husband was taken sick and died
with typhoid fever. The necessary pa
pers were made out under your superyis-
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 September25, 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 $7325 more
than the face of the policy. You say it
is dividend of so per cent. of the prem
i1m my husband paid you, or cne-half
of his premium returned. We do not
understand this, but we do appreciate
the great liberality and fair dealing of
the company, and will take pleasure in
recommending the New York Life 10 my
friends and the friends of my late hus-
band as the company in which to insure
We learn also that fyour companys has
for many years written the largest in
surance of any company in this state,
and now see the reason why. Yours
respectfully,
Signed CATHERINE VAN HovEM
The insurance companies of this coan-
try paid out nearly $1,O00,O0O 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 JAM
nary l, 1888:
New York Life. So, 700 800
Northwestern. OBSERVATION-DISCLOSURES. $500 500
Equitable. 5300. 600
Mutual Life 3,5Oo,eD0
The following table shows the won
aerful growth of the New York Life's
premium income in this state as COM
pared with other leading companies
Z odd dollars and cents omitted):
/, PREMIUMS RECEIVED IN IOWA.
1887. 1885,.
New York Life $751; LOCO
Equitable Observation-Disclosures. $4,000 $4,000
Northwestern ................. $4,000 I6.Qg0
Mutual Life. 10000 WsV0
| While the New York Life has written
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 place in
1880 To the FIRST in 1887 IL is very urati-