The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-04-17
ABOUT CLAUSE FIVE.
General Agent Phillips Dives IL m II II On
=e Every Policy.

NohcFhl agent FhilIlpH A,yah ~ ~ " II On
Every Policy.
10 The iNuKpENDEsT: In your issue OF
Inc Eighth inst, some person has UNDER
taken to give clause five In the conditions
OF II Northwestern Life Insurance com
pany'a policy, and speaks of tho company's
instructions to agents regarding estimates.
Clause five Of the Northwestern policy az
stpted ls not correct as TO policies issued
sines Oetober, 1859, but ID as follows: 'If
within five years from tho date hereof tho
shld insured becomes flabitnnlly intemper-
NC. or 80 fnr Incorporate oil 10 induce de-
iirem tremenB, then and in either such cnse
,he company may, within gnia five years,
but during his lifetime, cancel this policy
ana therenpon shall be nbsolvcd from all
uhblllty upon the same, except only that ii
hhnii pay The amount Of tic reserve COM
puted, according to the now existing stand
naa OF the STATE Of Wisconsin, If this policy
De surrendered in the lifetime Of tho in
sured aud within ono year flom the can
collation. Of the same" The five year clause
hlso applies to policies issued prior to the
above dhte. N
will leave it to any fair minded peraon
u by tins clause. the policy holder is at the
mercy Of tho company at all times, or, II he
is at the mo cy, of tho company anywhere
near as much ms he is under the following
clause which is in the New York Life n9pli-
cation and.which every policy holder in
that company is compelled to sign:
y 90 hereby agree as follows: That in
any distribution of surplus or profits the
principles and methods which may be
adopted by said company for such distribu-
non md its determination of the amount
cqultnbly belonging to any rolicy which
may be issued under this application, shall
pc and arc hereby ratified and accepted by
ana for every1 person who shall lave or
Gln1m anu 1nflFAcf n n RI q NH, t.<xf1nr , q 4,
policyholder Is not ntthe mercy Of the COM
pnny after signing this clause, how can he be
placed more ut the meroy of n company?
In regard to estimates I will answer that
the New York Life ngentB are sending broad
cast among Northwestern policy holders
ana the public a pamphlet containing let
ters from the latter company advising that
~ ald not make Official estimates of future
dividends. This is an old chestnut. and
has been exploded years ago. Until tho
Northwestern mad Iontine policies mature
~ as to have a solid foundation on which
to make any official estimate. What are
Official estimates2 They .afe a hybrid,
partly fact ana partly deceptive, issued Of
hclally by the New York Life for the last
twenty years, tempting men BY guesses to
take policies when they could not be
tempted BY facts. During the past twenty
years over 100000 policies have been issued
BY TINT company, attracted thereto not by
on1clal past %results, but BY official future
Ruesses. During those twenty years how
many OF that vast number of ~'of1iciai esti-
mates have been realized? Not one; alb
s%olutely not one. III most sweep
,1nRly unanimous thing since the world
began. what higher honor than for the New
YORK Life to admit to the world that the
ofhcers Of the Northwestern are not par
takers Of IT'S shame. The Northwestern
goes not nave to mako 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 pag thirty-eight of a
pamphlet entitled "Actual Results OF Ma
tnted Tontine Investment Policies in the
New York Life Insurance Company; What
Policy Holders Say About Them "a book
easily obtained), We read the following let
ter from a satisfied policy holder:
SAN ANTONIO, Texas, Feb. 26, 1883.
In 1873 ! took a policy from the New
York Life Insurance company for $50, 900,
on ten year life, ten year tontine plan. |
have just made settlement with the COM
pany, my tontine period being completed,
" the several options offered me | have
taken a paid up policy for life for $40, 900,
with annual dividends. and have with
drawn my surplus in cash, amounting to
SIG. This investment has given me such
entire satisfaction that I have taken an ad-
$4,000 policy with ten year ton
tine period.
(Signed.l ANTON m,
Compare the above policy, $4,000, ten
year life, ten year tontine, age SO, with pol
icy No. 76,049, Northwestern, issued 1874.
$4,000, ten year life without t%ontina. to
Charles B. Rustin, of Omaha, age 38.
New York Life, ~tontine Northwestern, non-ton-
$4,000. tine. S5 600.
Annual premium. $780, annual premium, $276.
SO. Cash dividends ten
ca wears. s s7lS1 ten years. $75o.5t.
MI. Oppenheimer paid the New York Life
b.7G3 and received a surplus of $71G.
Mr.: Rnstin paid the Northwestern $2.76O
and received q surplus. of $1,000. Hun
dreds of records in our company beat
policies in the New York Life two
TO n on dividends to policy holders.
W. b. PH1LL1ps, Gen'l Agent.
Helena, April ID, 1892.
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