The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1899-10-27
Kew SPECIAL CONTRACTS.
Inequalities of the Practice shown by an
Insurance Journal.

Inequalities of the Practice shown by an
Insurance Journal.
The State Life Of Indiana has secured
almost all its business by IN indisorim-
mate use Of special contracts in various
forms. For this practice it has been
chased out Of Georgia, Tennessee, Illi-
nois, Ohio, Michigan and Kansas where
the use OF the contracts was prohibited
aud held to DO inequitahle, unjust and
unlawful. At the present time, this
company has been cited to show cause
why its license to do business IN Colo
RADIO should not be cancelled because it's
use Of these contracts. In Indiana Mr..
Hart, who is auditor Of the state aud
likewise insurance commissioner. secur-
ed an opinion from Attorney General
William Il. Taylor to the effect that
the vice counselor special contract ia H.
legal whereupon he called the officers
Of the State Life down and demanded
that they cease writing these contracts.
This enraged the State Life officials
and their anger reflected back upon
Auditor Hart through an illegal insur.
anoe journal called The Forum. The
services Of three lawyers were secured
and all three agreed that as a service
contract that they were legal and by in.
ference and emphasis that as a life in.
suranoe contract they are illegal.
There Is not u holder of one Of these
contracts up or down the country but
knows that he was not hired by the
company. when he took insurance, to
act as al agent for it either in the ca.
pacity Of securing business or agents
for the company, but instead was to re.
ceive for and in consideration Of taking
insulanc u certain per cent of the com.
puny's income for q certain time. This
the auditor OF the state, attorney gen.
eral and the courts have held to be III.
lawful because Of it's destroying the
mutually Of the company. III instruct.
ing a jury in the superior court at Indi.
annapolis, Judge Vincent Garter. regard
ing q special Contract promising to
pay a certain policy holders profits not
enjoyed by all, said: II now instruct
you that the special contract that has
been introduced here is in law abso.
lutely void and furnished no defense
whatever to q suit by the receiver for
the balance Of the annual premium to-
wit. the 40. 25." What is here
said about the vice.counselor contract
applies as to all forms of special con.
tracts issued by the State Life or any
other company. The decision of the
superior court ought to be recognized
and accepted by all law loving and
1ovy okiISOu OSt;uovc oc tho 1oxy avA fEn
fighting of the State Life in this case
is but in keeping with the past history
of skating OH thin ice." From the
Policy Holder for June.
u y
The Policy Holder for August gives
the following list Of Indiana insurance
companies that died in 1898. The
State Life Of Indiana was in the same
class with the companies named up to
February, 1899, and has been twice re.
organized in the past ten years.
The Indiana Life.
The Masonic Mutual Benefit.
The Odd Fellows Mutual Aid Asso-
citation.
The Capitol Life Insurance Com
pany.
The German. American Savings Life
Association.
Mutual Savings Assurance Company.
Globe life Accident Insurance com.
pany.
Elks Mutual Life.
Protected Homes of America.
Industrial Life.
Indiana Benefit Association.
Lincoln Aid Union.
Quaker Mutual Life.
Standard Life Insurance Company.
Citizens National Life.
Continental Fraternal Union.
Central Guarantee Life. |
Old Line Life.
Hoosier Life.
63-tf w. r. PHILLIPS.