The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-03-08

SEINE Companies Will Cancel Poiiols, or rh,..
who R~nitst-Others Will Not.


In contemplation Of possible war with sn,,,
the man who carries life insurance and who in.
tonds to 60 to tho front begins to look m hi,
policy and find out what provisions ARE nnd,
therein for such contingencies. In most cos.,
he will and that no Is prohibited from going IN
be q soldier or sailor, on pain of f%orfeitinr hi,
policy. Some few policies contain no war nro.
vision whatsoever. and tho holders Of ouch mr..
protected equally whether they go or ,tay
officials Of a number of the companies hive m.
matter under consideration. The New yorS
Life Insurance Company has prepared the fol.
lowing statement. which will shortly be semi
out TO all Its agents:
"Wohave received many inquiries az to whc,h.
or the company would charge an extra prem,.
um on any Of It's insured who might c,list in IN,
United states army or navy for service in cass
Of war. The position Of tho company in this mat.
ter is perfectly plain. Any citizens OF the United
States who are already insured in this com.
pany have the right to enlist for war service
without our charging them any extra premium.
and in case Of their death In service the mil.
cies would, be paid in full the same as they
died OF natural causes. Such Of our insured M
hold old policies. containing a war clause nro.
hibiting the holder to engage in warfare viii.
out consulting tho company can have this
clause annulled, Illus giving them free wnr
ppi Tiiesss' by npplieottOn, to the company. Of
w " tbNht VIA II conn.
pany would have to cease writing new rolICies
on the lives of men who had enlisted or wcrs
about to enlist, or else would have to CHARGE
very heavy extra premium. You will see, how.
ever, from the above that any one taking n
policy to-day gets one that permits him TO 20 Ia
war tomorrow or any other time in the future.
without rec irinR from him any extra prr.
MUM, whe' cas- IL hostilities were declared to-
morrow his chance OF getting as free n policy
would BIO materially minimizcd."
1T is not the intention OF this company" said
Third Vice-President Perkins yesterday, TO
put obstacles IN the way of any citizen who
actually declared there will be no change in
our policies. Should war be declared, we should
charge a higher premium. but this measure would
be more for the effect Of the thing than be.
cause of possible losses. To issue policies, 10
men about to engage In active war service at
the same rates as those now in vogue might
give us q reputation for foolhardiness. n repn.
tation which we do not desire. To escape thar
Ia really the chief reason for any increase in pre-.
miums that we would make"
The policies referred to in the statement al
containing q war clause are old premiums. Tho
recent policies In this company contain no such
clause. Three Of tho Maine's men who were
lost were insured in tho New York Life. and the
policies will be paid without contest.
AT the office Of the Equitable Life Assurance
containing a war clause a percentage on tho
face Of the policy would probably be charged Tor
G. permit to go to war. perhaps 5 or 10 per cent.
Many of.the smaller companies, Whose c~lientago
is concentrated in comparatively small local..
ties, will probably, from motives OF self-preserva-
tion, declare forfeit the policies Of those of IL
clients who engage In war.