The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-01-05
MISLEADING COMPARISON
How tho New York Life Estimates
Results on Two Tontine
Policies.
An Explanation by That Com
pany's Agent Showing How
It 10 Done.
Another Companion That Shows ths Dlf-
ference ~ 1t II Betwsen tbs North.
western and New York Life.

NEW YORK LIFE. NORTHWESTERN.
Of Milwaukee.
Policy o1 the life No,,thw,s sm ,bs;r a swn
Samuel Cupples. book, based on &C.
1T. Louis, Mo. tuAl ten yenr ton
tine settle
ORDINARY LIFE. TEN ments 49,
ORDINARY ]. FE. TEN
81 5000. Ago 40. YEAH ToNIlNE;
Annua, nramiumSS18 OOIAnnual premium$3l5 70
Total premiums Total premiums
CT! piIa vain. Eds o os Cash va;ue ......2 .,a2b 90
EXPLANATION.
Above 10 printed COPY Of a circular OK
tensively used by the SCENTS Of the New
York Life Insurance company. Tho New
York Life policy was issued In 1872 and
matursd in 1882, while the Northwestern
policy, a. stated, matursd in 1891, being
issued in 1881, or nine years later than that
Of the New York Life. Had tho object Of
the author of the above circular been to
convey . correct impression as to the rela-
tive value of policies in the two companies,
he would have selected policies maturing
at the same time, instead Of going back
nine years TO 1882 to reaoh as good results
40 were realized by the Northwestern policy
holders in 1891. The fact. of which he was
fully cognizant. that moi comparison 10
possible Of the earnings Of two
policies having a difference OF ton
years in date Of maturity Of their tontins
perlods'' 10 purposely ignored. Perhaps the
fairsst comment Upon this very unfair COM
parison il the letter printed below, which
was written by VIM. l.. Hill, general agent
Of the Now York Life Insurance company,
At the "request" OF the "home Office" OF
that company. The circular referred to 10
only . sample Of many similar ones In use
by agents OF the Now York Life. the object
Of which il to misiead the insurer a. to the
relative merits of the companies In ques-
lie that the actual facts in the case be made
accessible to them.
ST. LOUIS, Sept. II, 1892.
Messrs. 8. Wachtsl q Co.. Aspen. Colo
Gentlemen: The home Office advises me
that they are in receipt of a letter from
you dated The 3osb uit. az to the Tonti inc
on the life Of Mr.. Isadore Rsinhardt, Mr..
simon Waohtsl, Of your Arm, being inter
ested in the policy as assignee. They fur-
ther inform mo that in said letter reference
10 made TO the results Of q policy ON the
life Of Mr.. Samuel Cupples, and that .
causs you write the Cupples' policy were
proportionately the larger. The homo Of
flee requests me to reply that policy No:
s8. GOA on the life of Mr.. Cupples was issued
March 10Th, 1872. while. policy No. 1872 s9s'
Reinhardt. was issued September 10th,
1882, 10 years later, All policies, the Tontine
period OF which matursd in 1882. received q
larger dividend than similar policies matur.
ing in 1892, No comparison 10 possible OF
the earnings of two policies having q diff.
ference of ten years in date OF maturity of
their tontine periods, unless all the In.
fuences of such difference is considered in
making the comparison. The rates of in
terest realizable now on investments in
sound securities Ia less than one-half the
rates obtainRble previous to twenty years
ago. The Cupples policy received the same
dividends as any other policy similar in all
respects, and SO did No. 1852. 1893. Yours
truly, WILLIAM l.. Hull.
Manager.
Below 10 given the history OF similar pol
ioies in the two companies. both maturing
in 1892: