The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-01-13
LIFE POLICY HOLDERS.
when They May Ne RelastateA Amer Fail.
ure 70 Pay the PremluU.

short time ago young man who had for
several years paid premiums on a life insur.
ance policy. allowed It to lapse. Having been
very busy when he received his notice. he had
put It aside and had then forgotten all about
It. His policy was Of the mi-tontine order
that Is. after paying premiums for twenty
years. he would receive the face value OF the
policy. plus the dividends earned by lapses on
the part Of others In the same class. and also
the interest on the money. He had locke
upon 1t as an investment for the future, and
he was greatly distressed to learn. thnt after
having paid in several hundred dollars. he had
through sheer carelessness lost 1t all. When
he discovered It the premium was two weeks
overdue. He had no idea that he could be re-
instated. but he thought no would try. So he
went to one OF the officers OF tho company and
told him his trouble.
Have you been Ill lately ?" asked the insur.
ance man.
mo. + have been unusually WE'LL" said tho
young man.
The official looked at him for moment.
"Ill see what can be done" he said finally.
Come with me-
man sat reading behind a desk. The insur-
ance man leaned over the desk and talked in a
few minutes he turned and beckoned to the
"Mr@"." he said. this is DR.. Jones' He
has charge o. such cases as yours and will do
With this he Withdrew, and DR.. Jones asked
his visitor t" sit down. He placed Q chair In
front Of his own; 50 that he could look directly
not cea that the Doctor Was Very avreeab ie
looking man. with a soft BLACK beard and
smile lifted from His lips to tho @r 2ffe IS
t slow Fl taking The
was in the habit Of studying people Critically.
and that he was deliberately forming a judg.
was talking in the pleasantest manner.
Why did You let your policy lapse p asked
the Doctor. smiling good naturedly.
had been very busy. and mislaid my no.
dce." was the reply.
=. How has your health heen2"
" Vow h ,Ss, h had even even headache"
the yonns man intentiy. but still pleasantly.
sy Of Of f s when hs 1d s
We'll. don't think It viii Viii be necessary to
afs VIII W. that yn
you viii as be able to pay your premium and get
insurance companies is Kept busy all the year
BY policy holders who. like this young man.
forget to PAX their premiums when due In
Of the business is large enough to require tho
services of a largo force Of clerks. and is d.
comparatively small. but the domestic and
| foreign departments are kept hard at work
pocS hd ahS tn aHd pal9s
the civilized world. Policy holders lapse for
various reasons, torcetf YIN being the
holders as veil as Tor ther hers tHs
Ths rule in one Of the Biz companies as to
| local lapses is to. reinstate the policy holder
he ana te sSa na tine
is less than thirty days overdue. the reinst ate-
| ment Is usual ly made without subjecting the
i. however. there is any doubt in the mind OF
| the official who. questions him. he must sub
rigid as tho first Occasionally men who i have We
acquired chronic diseases since they were first
;sSxaminedS all"T their policies to lapse. and
disability Of the policy, holders. Such q case
pe2 on the The h p
eight to DA the raIes
bsd pa wl all the that
heard OF him. but then he applied to be rein.
stated IT appeared that. because Of financial
paired. His finances had Improved again. 50
ums with interes:. and as he passed the med nee
ical examination satisfactorily. he was re-
stored to the class in which he had started ten
nothing by his reinstatement. whereas he
| gained greatly
;. There are no written rules to renewals OF
pend entirely upon. the discretion Of the
officials. The local companies rarely go
| city. but hold. their agents responsible
for them. While there would appear to
| be opportunity for fraud. through collision
between the applicants for renewals and the
agents. yet the OFFICIALS here say that it is very
rarely practised. Persons who ALLOW their pol
1t is to their advantage to keep them secure
and It Is taken for granted when they fail to
tentionally. Occasionally statements are
sent out lust before the beginning, OF the year
In which to apply for reinstatement