Savannah courier. (Savannah, Tenn.) 1885-1979, 1898-05-13
NUMBER 10.
WAR AND LIFE INSURANCE.
u Ia Said Some Companies VIII Can
eel Policies of Those who Enlist
-Otherh VIII Not.

in contemplation of possible war with
Spain the man who carries life insur-
ance and who intends to go to the front
begins to look up his policy and find
out what provisions are made therein
! for such contingencies. In most cases
lie will find that he is prohibited from
going TO be a soldier or sailor, on pain
of forfeiting his policy. Some few poll
cies contain no war provision whatso-
ever, and the holders of such are pro-
tected equally whether they go or stay.
! Officials of a number of the companies
have the matter under consideration.
A New York life insurance company
has prepared the following statement,
which will shortly be sent out to all its
agents.
1--WE have received many inquiries as
to whether the company would charge
an extra premium on any of its insured
who might enlist in the United States
army or navy for service in case OF war.
The position of the company in this
matter is perfectly plain. Any citizens
of the United States who are already
insured in this company have the right
to enlist for war service without our
charging them any extra premium, and
in case of their death in service the poll
cies would be paid in full the same as
they would had there been no war, and
they had died of natural causes. Such
of our insured as hold old policies con-
tanning n war clause prohibiting the
holder to engage in warfare without
consulting the company can have this
clause annulled, thus giving them free
war privileges, by application to the
company. OF course, il war were
actually declared the company would
have to cease writing new policies on
the lives of men who had enlisted or
were about to enlist, or else would have
to charge very heavy extra premium.
You will see, however, from the above
that anyone taking policy to-day gets
one that permits him to go to war to-
morrow or any other time in the future,
without requiring from him any extra
premium, whereas il hostilities were
declared tomorrow his chance of get
ting as free policy would be material
ly minimized."
at is not the intention of this COM
pany," an official said, "to put obstacles
in the way of any citizen who wants to
fight for his country. Until war is
actually declared there will be no
change in our policies. Should war ba
declared, we should charge highe,
premium, but this measure would be
more for the effect of the thing than be-
cause of possible losses. To issue poll
cies to men about to engage in active
war service at the same rates as those
now in vogue might give us reputa-
ton for foolhardiness, reputation
which we do not desire. To escape that
is really the chief reason for any in
crease in premiums that we would
make"
The policies referred to in the state
ment as containing a war clause are
old premiums. The recent policies in
this company contain no such clause.
Three Of the Names men who were lost
were insured in the New York Life, and
The policies will be paid without con-
test.
At the Office of the Equitable Life AS.
surance society it was said that in the
case of policies containing war clause
percentage Oh the face OF the policy
would probably be charged fora permit
to go to war, perhaps five or ten per
cent. Many of the smaller companies,
whose clientage is concentrated in COM
paratively small localities, will prob
ably, from motives of self-preservation,
declare forfeited the policies of those
of its clients who engage in WARN. Y.
| Sun.