The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-04-14
0 CLAUSE FIVE.
General Agent Phillips Gives II aA IT ]. On
EYarY Policy. @5

f;euernl Agent Phillips Gives II nm IT ]. On
Every Policy.
To TuE I~NpErENpENr. In your issue Of
the eighth inst. soms person has under-
taken to give clause five In the conditions
Of a Northwestern Life Insurance COM
pany's policy, and apenks of the company's
instructions to agents regarding estimates.
Clause five Of the Northwestern policy M
| stated Is not CORRECT ma to policies issued
since Oetobes, 1850, bnt il IA follows: tsIf
| within five years from the date hereof the
/ snid insured becomes hahituAlly inteinper-
nte. or 30 far ihtemperate as to induce de
lirem tremens. then mi in other such case
the company may, within said hvs years,
but during his lifetime. cancel this policy,
and thereupon shall be absolved from all
liability upon the ame except only That IT
shall pay the amount Of tie reserve conl-
puted, according to the . existing stand
ard Of the atate Of Wisconsin. If this policy
be s~urrendeEed in the lifetime Of the in
collation. OF tho snma.'' The five year clause
also applies to policies issued prior to the
above date.
I will leave IT to any fair minded person
if by this clause. the policy holder is Vt tho
mercy of the company at all times, or, II he
near as much as he ia under the following
clause which Ia in tho New York Life Hppli-
cation and which every policy holder in
that company is compelled to sign:
II do hereby agree as follows: Ihnt IN
anv distribution of aurplus or profits the
principles and methods which may be
adopted BY said company for snch distribu-
ton and its determination of the amount
euuitably belonging to any policy which
may be issued under this application, shall
be and are hereby ratified and accepted by
and for every person who shall have or
al otY% nv az tr% nm 1nr 1rvp IL t%p1rnV ~ IL n
%polioyholder 10 not at the mercy OF the com
pnny after signing this clause, howcan he be
plnced more at the metov of q company!
In regard to estimates ] will answer that
the New York Life agents are sending broad
cast among Northwestern policy holders
and the public a pamphlet containing let
tors from the latter company advising that
it did not mike official estimates Of future
dividends. This is an old chestnut. and
has been exploded years ago.. Until the
Northwestern had Tontine policies mature
80 as to have a solid foundation on which
to make any official estimate. What are
official estimates? They ae o hybrid.
partly fact and partly deceptive, issued Of
ticially By the New York Life for the last
twenty years, tempting men by guesses 20
take policies when they could not be
years over 200,0 900 policies have been issued
by that company, attracted thereto not By
official past results, but by official future
guesses. During those twenty years how,
many Of that vast number Of ~"offlcial esti-
mates have been realized? Not one; abb
ingly unanimous thing since the world
began. What higher honor than for Il 9 New
York Life to admit to the world that the
officers of the Northwestern are not par
takers Of its shame. Tn Northwestern
does not have to make estimates for the
future. The Northwestern has policy rec
ords without tontine benefits which exceed
similar policies in the New York Life with
tontine benefits. On page thirty-eight Of a
pamphlet entitled actual Results OF Ma
tured Tontine Investment Policies in the
New York Life Insurance Company; What
| Policy Holders Say About Them Ia book
| easily obtained). we read the following let
ter from a satisfied policy holder:
SAN ANTONIO, Texas, Feb. 26, 1883.
In 1873 took 4 policy from the New
York Life Insurance company for $4,000
IN ten year life. ten year tontine plan. ]
/. havB just made settlement with the com.
pany, my tontine period being completed
taken a paid up policy for life for $40, 900
with annual dividends, and have with
drawn my surplus in cash, amounting *
SIG. This investment has given me suct
entire satisfaction that I have taken an ad.
ditional $4,000 policy with ten year ton
tine period.
(Signed.1 ANTON OpPENHE1MER.
Compare the above policy, $4,000, tel
year life, ten year tontine, age 50, with pol
10y No. 76,049, Northwestern, issued 1874
IS, 200, ten year life without ~tontine, te
Charles B. Rustin. of Omaha, age 38.
New York Life, tontine Northwestern. non-ton
$4,000. tine. $4,000.
| Annual Premium. $576- Annual premium, $278
so. Cash dividends tel
Cash dividends ten years, $750.54.
years. S716.
Mr.. Oppenheimer paid the New York Lif
Mr.. Rustin paid the Northwestern $2.76
and received q surplus of $750.54. Hun
dreds of records in our company bea
similar policies in the New York Life tw
to one on dividends to policy holders.
w. =. PHILLIPS, Gen'l Agent.
Helena, April ID, 1892.
Careful buyers find it to their advantage to SIS
the Bee Hive assortment of baby carriages be
fore buying.