Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-09-01
INsURING CHINESE.
American Companies do Little Business
in the Empire.

any oNhtA ~ONANhy VA <hS a
consequence. Monaghan wives and chill
dren have little chance OF receiving in
surance money should their bread
winners be numbered among the UNI
fortunate. The Chinese have never
made any great effort to insure their
lives, it Is true. but those who tried
found it almost as difficult as does the
American negro. 1t is not the color
that the insurance companies object
to, nor do they consider either race es-
pecially prone to suicide, but there are
natural objections to their being con-
sidered good risks.
There are but three American life in
surance companies which have written
any business in all Asia. One Of these
has placed most Of its policies in India.
another has made a special effort in
China, but most of the policies are
written on the lives OF white residents.
The total number Of policies written by
American companies for all Asia was
only 6,172. insuring the holders to the
extent of $13,5S3.141. and on which they
paid a total premium of $7S0.54s. Sta
tistics are not given of the number OF
policies held in China. but the percent
age is small, and the number OF pol
icies held by Chinese smaller still.
The companies have made it a rule
not to insure Chinese who live outside
the treaty ports. The business that
could be secured in the interior would
not pay for the trouble that would be
necessary to get 1t. and, besides. the
question Of Identification is so difficult
that no company could afford to take
= -;elr 81 1>a;, Iafr
crafty Orientals. There are scores OF
Chinese who look so much alike that a
foreigner could not tell them apart
and with so many doubles available
the speculation in human death would
be ruinous to the companies.
At the treaty ports a number OF
Chinese have been able to secure pol
icies. They had to take the endow-
ment or more expensive policies. but
they were not charged a higher rate.
Only merchants OF recognized standing
who were able to give full details re-
garding family history were accepted.
Although the Chinese are particular
about tracing the history of their en-
pire back to the beginning OF things,
insurance men have found that as q
general thing they know little about
their own particular families. They
are seldom able to tell of what diseases
their near relatives were victims and
cannot give other information which
is considered necessary in deciding on
a risk.
Now that China is in state OF war.
the best sort of a Chinese risk would
not be considered. Most of the COM
panies quit doing business in China
two months ago and their hustling
agents will not touch that territory
until the trouble is finally settled. 1t
is probable that the companies which
have already written Chinese policies
will assume war risk contingencies.
The Chinese policy holders can force
the companies to take the additional
risk upon payment of extra premiums
just as the British companies were
forced to assume a war risk in the
case Of volunteer soldiers in South
Africa. AS the amount Of Chinese in
ordinary circumstances good. it is
possible that an additional premium
will not be demanded.
Although China is prolific in clubs
and secret societies. none Of them have
ne lUSuTdUCe he ira
ternal society for the purpose OF assist
ance during sickness and insurance
against death Is unknown in the en-
pire. The societies are mostly political
and too much wrapped up in intrigues
TO bother with insurance matters.
Some of the societies mix in religion
to the extent of having a miniature
joSS-houSe in connection with their
meeting rooms. but do not depart
further from the social or political idea
which the society is supporting. The
members usually say long prayers be-
fore embarking on any new business
enterprise or taking new move in the
tangled game Of Chinese politics, and
they never fail to present the clubs
particular god with a costly offering
when any such undertaking is brought
to a successful conclusion.
Few Of the Chinese living in Amer-
ca have taken out insurance on their
lives. The rich merchants who could
AFFORD it think they do not need to look
out for prosperity in any such fashion.
and. of course, the poor Chinese can
not take out endowment policies. 1t is
for the benefit of the poorer classes
that mutual insurance society has
recently been formed in San Francisco. |
1t is not we'll under way as yet, and |
the Chinese of this city do not seem to |
be acquainted with the details of the |
1t is said to be modelled to q |
certain extent after a well-known in
surance order.
The first Chinese policy to be written
in this country was issued about ten
years ago to a rich Monaghan mer-
chant who lived in Montana. TIL,
did not care to take the risk
and so informed the hustling agent
who had secured it. AS soon as the
Chinese found that they did not con-
slider him desirable he wanted an in
surance policy worse than anything
else on earth He told the agent that
he just had to have it. After much |
the company said it
would write the policy for an extra
premium. and named a figure so high
that the Chinese would not have con-
sidered it for moment under ordinary
AS it was. he accepted
the offer and the policy was made out.
Nearly all Of the Chinese Ministers
20 the United States during recent
years. including the present incum-
bent. Minister WI. have taken out {
policies of one kind or another 1t is a
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