Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-04-23
READ YOUR POLICIES.
EFFECT OF WAR UPON THE.
HOLDERS OF LIFE INSURANCE.
PERMITS REQUIRED IN MANY CASES.
The Majority of Policies Have In
contcstibIc Clauses. which Make
Invalidation ImpossibIe-RIchm
Agents Receiving Instructions.

| a" W 'le erect Wnlch going TO war will
have upon their life-insurance policies.
The majority Of the men who will 20 TO
! the front are those who have been in
scred within the last ten years The
] greater portion of the business done ia
that period is on policies incontestible
after a certain term specified in the policy.
| This term is, in most instances, two
! years. Holders of policies with incontes-
uble clauses, can subject themselves to
| any danger, and even commit suicide
without invalidating their policies If they
have held them for the term which abro-
| gates the right OF contract.
| Holders OF straight, old-fashioned poll
! cies may have some difficulty, as these
! are as a rule. very stringent 1t is
thought a very large portion OF these
/ would be !avalidated by men who went
/ 10 Cuba in the yellow-fever season. or
! to war at any time. This claim. at any
rate could be set up by the company.
/ Holders OF such policies should, there
| fore, Tead~them carefully.
| MANY QUERIES RECEIVED HERE.
The Richmond representatives. of life
| insurance companies have been over
Whelmed with letters recently, asking
what would be the effect upon policies
IN case the holders went to war. and
upon what terms risks would be taken
IN the case Of men contemplating mill
tdry service. The agents have been
anxious TO receive from the executive Off
GERS OF their companies authoritative
statements as To what would be the effect
Of war upon insurance. and many of them
nave received circular-letters on the SUBJ
Ject within the past few days. one of
the post prominent companies in the
country sent out the following circular
yesterday, which answers the majority
OF the questions asked Of the agents:
we nave already issued free permits
10 the state Militia or National Guard in
the several States and TO the Naval Re
serve and will continue TO do so until
the breaking out of hostlities.
There remain only two other classes
oil possible cOmbatants-ofcers IN the
regular army and navy and prospective !
volunteers. We ask the former of these, |
as before remarked, in their own inter |
est to still leave the ultimate decision in |
the hands OF the company, assuring them |
tnat when events shall have so developed !
that we can estimate with a reasonable /
degree of probability the actual risk they !
are likely to be subjected TO. any extra !
premium imposed will be fixed at as |
moderate a rate as justice to the whole
body of policy-holders will permit: that |
mean while, we will keep their policies |
good in all cases where payment in cash |
Of such extra premium when imposed
may be impossible or incOnvenient by
charging the same against their dividends
or the lace of their policies, and in all
cases where previously requested in
writing so TO do, and that upon the ces-
sation Of hostilities we will make a care
tul calculation of the losses actually in
Cured and refund TO them pro rata any
overplus of payment they may have
made
"As to such of our policy-holders as
may contemplate volunteering in case
the President ehould call for volunteers.
please point out to them that considera-
bic time must elapse in their case during
which the levies can be armed and equip
ped, drilled, and formed into military or
CARNATIONS, and detailed for active duty
Similar considerations will prevail I'm re-
spect to these. A rate will be fixed, if
any should be necessary, as moderate as
justice to ,-.e remaining body Of the In
sured Will permit when the nature and
probable conditions Of the land service
can be fairly estimated"
AUTHORIZES WAR PERMITS.
The representative of another promi-
nent company received yesterday a cir
cular. stating that ali policies in force
in that company which are more than
two years old are free from restriction
as TO residence. travel. occupation. mill
tary. or naval service. The company has \
authorized the issuance of war permits
under policies less than two years old
now I'm force or that may hereafter be |
issued. for service north of the Tropic of
Cancer, at the rate of so per annum for
each 81 900 of insurance: such permits
To contain provision that if the insured
while engaged in such service. shall pass
south of the TrOpic of Cancer, an addi-
tiOnal extra premium shall be charged at !
the rate of $50 per annum for each 81 900
of insurance under policies less than two
years old which additional extra pre-
MUM with interest al the rate of per
cent. per annum. shall be until paid a
lien upon the policy or policies: provided
that no extra premium shall be charged
after the expiration of two years from
the date Of issue Of any policy.
"fhe permits will also contain a pro-
vision that. in the event of the terminal
ton of the war service of the said in
sured. otherwise than by death or dis
ability prior 10 the expiration of the
period for which the permit is granted
a pro rata amount of the extra premium
!
plicetiOn therefor.
Permits will be issued for service as
chaplain, surgeon, assistant surgeon. pay
master paymasters clerk. or member of
the hospital corps. at 40 per cent. of the
above rates. Where the permit is for
a full year the extra premium may be
paid either semi-annually or quarterly, at
"a pro rata premium.
A well-knOwn mutual company in its
policies permits the insured 10 serve in
The military in time OF peace. and also
allows him TO engage in active service in
lime Of war, providing that he pay an
additional premium of 3 per cent, but
icfault in this will not invalidate the
policy though the accumulated amount
will be a lieu on the policy. and will be
deducted from it. with interest. on ma
urity.
WITHOUT ANY CONDITIONS.
The president of one of the best-known
Cmpanies in the country says Every
civilian of the United states holding a
'ohcy in this company whether he has l
lad IT for thirty minutes or thirty years, 2
S perfectly free TO go TO war tomorrow, !
II any other time in the future. In event
4 his doing so and meeting with death his
olicy would be paid in full. and at once. 5
Without deduction and without the pay
nent on his part OF any extra premium
n any shape or form. IL is true that a
arge number Of our Old policies contain I
lauses preventing their holders from go C
ne TO war. We have decided that all D
uch clauses shall be null and void. and :