Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-05-17
INSURANCE.
IDEAS AS TO THE PROTECTION
AFFORDED.
Does It Pay-The History of Life Insurance
a. Discussed by the Spectator-What
Policy Holders Receive.


money or effort, of Drawn or brain, in this
our very practical age, comes the ready
challenge, ''Wil it paya" l take it that q
fair definition of the word might be ian
adequate return for something expended"
Does forethought payl Does prudence
| pay9 These are essentials to safety and
success in all the affairs of life and all are
| agreed that they pay
Does life insurance pay7 The query sug.
l. geStS settled conviction as TO just what
! life insurance is. For purposes of an answer
| to so broad a question, and granting that
| the most concise definition of life insurance
| IS fully encompassed by the word ''protec-
tlon," it does not become necessary to di-
vide, to classify or to analyze the many
methods OF many men whose systems of life
insurance all claim right to the generic
name. Any system of life insurance which
insures pays the insured. A loss to the in
sured who has honestly placed his risk is
possible from only two causes: Either he
or the company Tor asSociation} did not
carry out their part of the contract between
them. By choice or force of circumstances
theman may have ceased the performance
of his obligation, before such time, perhaps,
as under the law pro rata portion Of his
policy would be due him and unforfeitable;
or, the company may have failed, while yet
the insured lived up to the every letter of
his contract. Under either condition had
he not protection while his policy was in
full forcel Was such protection of no
value2 If not, then all the premiums paid
Tor fire insurance protection by the man
whose property is not destroyed are no bet
ter than thrown away, and this the prudent
man will not admit.
Companies fail" Yes, many have
failed; but let the man of affairs, of obser-
walton ard experience in the world of COM
merce, of fnance-the man devoid of preiu-
dice, who with conservative care will ''ren-
der unto Caesar the things that are
Cesar's"-let such an one sit in judgment
and he will declare that granting all as dead
loss, the loss by the failure OF life insurance
companies has not exceeded l per cent of
the assets of the companies now in exist
ence. Can the merchant dare point with
scorn to this benifcient system when he re- /
members the record of his own calling9
When he remembers that statistics say that
81 out of every leo merchants in this coun-
try faila Can the banker step from his
brittle house of glass to cast single stonef
At its worst life insurance needs no de-
fence. Its Superb accomplishments in the
past and present stand out q sufficient
monument to its grandeur, of deeds well
done and an earnest of yet more to follow.
Can it be necessary for emphasis to point
to the thousands, yea tens of thousands of
widows and orphans whose bereavement
has been softened; tears brushed by and |
sorrows smoothed; with lives rescued from |
toll. trial and terror and frightened by q |
fathers prudence and forethought for their |
protection when he should be no more. Do |
you not know of such2 What we of the |
great mass of humanity possess or acquire |
must be the product of our brain and |
and our income is proportioned oy
our abilities and the fields in which we
labor. Let death-that certainty of life
step in and what of all material things pos
sessed by US does better pay than this,
our life insurance. 1t is the best substitute
that can be made for our absence; in money
outlay never costing us so much as is paid
back and beyond the mere financial con-
'ideration is the consciousness of duty done |
joward the loved ones, that come veal or
woe, between them and grim want the pro-
Getting shield of this beniticience stands
/ is thrice blessed. 1t means protection to
hat man, to his family and to his estate.
life insurance renders possible as we go on
trough life more liberal expenditure of
'ur income upon ourselves and those we
lave about US; an enjoyment not delayed
Until that time when capacity is gone and |
/ perchance we be called before our timer
hen with our legacy of love we leave
of material wealth to so far take
ur place. If such an Office be performed |
surely pays, be its manner or method of |
accomplishment what it may; and to this |
re those blind only, ''who having eyes to
ee, see not" l.. K.
thirty Years Results in Life Assurance.
Under the above heading the Spectator of
lap presents an elaborate table from
'hich can be CLEANED approximately the
lstory OF life assurance in this country
uring the past thirty years. 1t gives the
cures only of those companies that have
eported to the New York insurance de-
artment during this period, but these in
uded, says the Spectator, all the promi- {
emit companies OF the country. The table
eals with aggregates only, showing the I
nanclal standing and business transactions c
the companies en- maSSe One of the |
ost remarkable exhibits of the table will t
3 found in the fiuctuation of the number
companies engaged in the business. In
6l and for some years preceding there n
ere seventeen life assurance companies or =
SIS doing business in the state; this num- p
,r increased steadily year by year until .
az, when seventy-one companies were in :
uded in the list. A large portion of these y
ere speculative companies, controlled by
en- who knew little of the science of the
lsiness, but engaged in it as a speculative '
terprise, with little or no regard for the l
ghts and interests OF the policy holders. "
ut the period from 1850 to 1870, while our c
eat CIVIL war was in progress and the .
untry undergoing thereafter a process of &
generation, was essentially a speculative
riod, and no business or enterprise was
0 sacred to escape the raids of unscrupu-
IS gamblers and reckless adventures. In
10 the craze began to abate, and there A
ter the number of assurance companies
gan to fall off, and their disappearance
Is almost as rapid as had been their for
alton. In 1850 the number had been re-
ced to thirty-four, falling to twenty-nine c
8 following year, where it remained until .
80 saw one company added to the list, -.
liking up the thirty companies now re- 81
rting to the New York department. al
A glance at the figures by ten year periods IN
ows the wonderful impetus the business Ct
5 received during the past few years. and IN
licates how distrust and even hostility N
5 been converted into appreciation and b
,fdence. Gong back one year further SO
IN the table does, we find that for the nc
ars ending December 81, 1860, 1870, 1850 w w
! 1890, the reports show: sp
Sc
~ SSSs II 40 S9s2 n