Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-08-01

citation, Of this city, has now fully COM
piled with the new stipulated premium
law which was passed by the legislature
last winter in regard to mutual compa-
ent time. Is the only company that has
been able to comply with the new law.
The Southwestern was in position to
do 80 more easily than other mutual
companies from the fact that the bulk
Of its business filled the requirements OF.
the new law, as the company has not
for several years issued any policy but
what could be valued as the law re-
quires, and the policies issued have
been valued, in fact, and the full reserve
Requirements have been deposited with
the auditor OF state, thus meeting the
same legal requirements that all Of the.
old line companies are required to make.
Under the new law governing the
Southwestern there will be no change
In rates or guaranteed results required
OF any policy holder holding limited
payment policies II was thought soon
after the passage Of the new law that
members holding policies issued during
the early years OF the association would
be obliged to pay rate so that their.
policies could be valued. but President
Halbert has succeeded in securing a
lsconcession so that no member will ex-
perience any hardship or be required
to pay much higher II any, increased
rate. This will be accomplished by issu-
ling uniform whole life contract to all
those holding other than limited pay
ment policies, and they will not be re-
lquired to pay any Increased rate, as the
association proposes to issue policy
giving the same date and rate as con-
tanned in their old policies. which will
he taken up and Cancelled. Should how
ever, the mortuary receipts be INSULT :
lcient to pay all policies IN full tenn
porary increased rate will be called for
that will produce sufficient funds to en-
able the association to pay its losses in
Hull. The Southwestern, being mutual
company, no member can reasonably
object to an arrangement OF this kind.
3as he will never be called upon to pay
more than his share Of the losses. which
lean not be otherwise than small, and
will enable him to carry his insurance at
| actual cost. The officers of the South
western are to be congratulated upon
lhaving worked out and solved success
fully, with so little friction, what at
/ fret seemed a difficult problem after the
passage of the new law relating to mu-
i tual insurance companies. No company
lin the United States paysits losses more
4 promptly than the Southwestern. and II
pays 100 cents on the dollar. The best
land most conclusive evidence of this is
that there is not today a deathsloss sus-
tanned by the association that has not
been paid and satisfactorily adjusted.
i The condition Of the Southwestern, both
as to membership and finances, was
never better. and no member. In view of
this excellent showing, should entertain
a thought of allowing his policy to lapse
\ in this home company, and carry his in-
surance elsewhere. Every man owes it
to his family to carry insurance. and in
a solid and tried company. How often
lit is that when death domestic man
his insurance policy is found to have ex-
pired only a few days previous, thus not
lonly losing the premiums paid in but
leaving the family without the money,
which. but for a little thoughtlessness,
or perhaps carel-ssness, should have
been theirs II you want insurance in a
company that pays its losses the same
day proofs of death are furnished. a
scompany that is as solid as the rock of
L Gibraltar. one that was organized in
Marshalltown. by Marshalltown men,
and has grown until 1t stands at the
head OF mutual Insurance companies,
take out policy in the Southwestern
| There are none batter.