The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-10-04

in its results. There was an agreement
upon uniformity of blanks for the prepara-
ton OF reports for fire and life companies.
winch was sensible innovation, though IL
may confuse some OF the companies Tor
snort time. National supervision was also
discussed, and 1t was considered advisable
10 ask Congress to consider a bill to eStab-
lish it. The most interesting features of
the meeting were the addresses by Mr.. Nc
Call and Mr.. Alexander which attracted
number of people to the convention.
The local fire underwriters, who held
their convention in the prohibition State of
Maine last year. deemed it best to hold
the convention this October in the State
of Kentucky, where more lively entertain
ment may be had. The sessions will be
held on Oct. 81, % and %. A great barbe-
cue and burgoo will entertain the visitors
on the frst day, at which there will toe
cake walking and singing by some of the
meeting on the 23d, there will be an ex-
cursion to Mammoth Cave. which will be
open to the members who desire to it.
The meeting promises to be the most en-
Joyable ever arranged by the agents.
1t was decided in the Marion Superior
Court last spring that the beneficiary in a
policy issued by mutual benefit associa-
policy in such an association differed from
the ordinary one in that respect, since the
organization was for the benefit of the
members more than for the benefit Of an
outsider II seems however, that the mat
ter is simply determined by the terms of
the policy or the constitution and bylaws
OF the society. for the same considera-
r ohs Mh the the vested
the policy OF a mutual benefit society,
namely. that the beneficiary, If a wife,
mas contributed her share of the premiums
by performing her household duties and
her savings, or if creditor of the policy
holder he has made a contract with the
insured which cannot be impaired without
the consent of the beneficiary. That the
rights of the beneficiary simply mat
ter or contract is shown by the ordinary
policy of to-day under which by the terms
OF the policy the beneficiary has no vested
rights.
On Of the most dangerous enemies of the
insurance comprehensive one who has
done the most in the past to bring COM
panies into disrepute among the masses is
the INSCRIPTIONS agent. He finds a VIC
tim to whom he recounts the benefits Of
his policy as If it were some get-rich-quick
arrangement, instead of a business trans
action. which every one should look into.
II he Is talking to a man not versed in
business matters he misrepresents the con-
tract, and adds to it without remorse, and
finally sells it to the innocent purchaser
under such misleading conditions as will
almost invariably bring the company a
lawsuit in case of loss Or, IL the pros
pective policy holder is a live business man,
often the agent will not know enough in
surance to explain the policy but can SIM
ply repeat his lesson learned by rote over
and over again. 1t Is certainly to the in
terest of the companies not to have men
of the type mentioned; and it must be
confessed that there are a few of them
left who can do the companies an immense
cedure among many agents to get the pros
pective policy holder TO sign the application
and take the medical examination by in
FORMING them that it means nothing, and
that they need not complete the contract
If they do not wish; then the deceived
man Will find that he has made one con-
tract to enter into another which Is differ
ent from the one promised him by the
agent 1t is wrong to the insured to in
duce him to enter into contract the terms
of which he knows only from the state
ments of the agent, and to prevent this in
a measure the agent should be REQUIRED TO
furnish sample policies which the insured
can look over at his leisure with full COM
prehension before he is hustled into a con-
tract to take something which may be not
at all the thing he has bargained for. II
is to the credit of the best insurance com
panies that the insured is always given a
dummy policy which he can examine dur
ing the time his application is beine, con-
sfdered by the company so that he has
full knowledge OF the contract before il is
completed.