Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-01-13
Experience of an Iowa man who
had one of those
.KEW YORK LIFE ELEPHANTS 4
on his hands.

svLuA Villt iii ILL lHllv1V
on his hands.
(From tho Iowa State Register.)
THAT NEW YORK LIFE POLICY.
From the Iowa State Register: The
editor OF the Register is still daily re-
cedving letters Of inquiry in regard to
his New York Life Insurance Co. lin
i~ted-tontine policy, and the following
are samples Of the letters received FRI
day: .~|
Colorado Springs, Colo, Feb. rs
Editor Register: I saw a notice that
was purported to have been published
in the Register to the effect that you
had a New York Life policy for sin
600 that matured after fifteen wears
and the company promised you a liz
dend and compelled you to take $1,000
less than you had paid in. am car.
rying two policies in the New Yt.rK
Life and have been for several years,
but if they r going to settle ,ha, way
| desire to take paid up policies now
and not wait for cash dividauis with
the same result as you have Kindly
write me the truth of the mater. for
if the publication is true, I Goat care
to pay any E!ore money in ii company
that don't pay as much as they prom
Use. Thanking you in advance, I re-
main very truly yours. 3.
D. H. GREENE,
P. o. Box 1884.
Yes, it is true that the New York
Life Insurance Company's state agent
for Iowa gave us a written statement
showing that our $4,000 policy in that
company would be worth $S,116 at ma
turity, at.the end of fifteen years. We
paid the company the annual premium
Of S364.6 for fifteen years, the total
premiums we paid aggregated $5,469,,
the company had the use of our money
during the whole of the fifteen years,
and then forced us to settle the policy
for $4,000. 80 cash, which was $SGS. 20
less than we paid the company, and
$685. 70 les than the Iowa agent of
the New York Life said the policy
would be worth at maturity! That is
an exact statement of the result of
our policy, and we still have the writ
ten proofs in possession. The
statement of the agent of the company
is written on the letter head of the
New York Life Insurance Company,
and signed by him as the state agent.
1t is thus seer that, we received but
little more than half the amount the
New York Life's state agent said our
policy would be. worth at maturity,
and it is probable that our Colorado
Springs correspondent will have a sim
liar experience if he continues to paw
the annual premiums until his policy
natures. However, we caution him,
and all other persons not to cancel
their policies in that company until
they have positive knowledge that they
can pass examinations and be insured
in. some other companies, for it is bet
ter to run the risk Of losing half the
cash promised at maturity than to run
the risk of leaving loved ones without
insurance. Remember this warning,
please, for we believe that every man
Should carry life insurance for the
benefit Of his family or other depend
emit friends.
Good proof that there are better
companies than the New York Life for
policy holders is given in the TACT that
a similar policy in the Northwestern
Life, written the next year, paid us, on
the basis of a $4,000 policy, $1,O2S. A
more cash, than we received from the
New York Life, and if the policy had
been written the same year we would
have received 81, 1928. A more than the
New York Life paid lis, which would
have been nearly one-third more cash!
These facts should open the eyes of all
New York Life policy holders. but ev-
eryone of them should first make GER
tain that he can be re-insured in some
other company before proceeding to
cancel his policy and take paid up in
surance for what he has paid the New
York Life.