Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1902-11-10
HOW TO AVOID DECEPTION.

lawsuit recently tried somewhere be-
tween Alaska and Florida could not have
been more happily devised for the adver,,
Using OF THE TRAVELLERS Stock Plan, and
its superiority over every sort OF FLEXIBLE"
plan, mutual" "tontine," or what not,
If this company had "put up job" to
bring 1t about. Two agents Of companies
issuing "tontines" got after citizen to in
that is, to see If other peoples misfor
trues would not put money in his pocket.
Agent No. made glowing estimate"
which would require perhaps wide mantle
of forgiveness in the future; but his mod
est romancing was far overshadowed by
No. 2, who produced out of "little black
book" figures of soaring gorgeousness, and
captured his prey. The policy was deliv-
cred, but No. 1 suggested to the victim that
he had better write to the company and see
whether they would make good the agents
figures. That body replied fatty that they
would not, and he had no right to offer
them; but it had written the policy and
refused to cancel it; the insured refused to
pay the note he had given for the premium,
and the agent sued him for it. On the
stand he swore that the estimates" in the
little black book" were those of a private
actuary, not authorized by his company;
but that nevertheless, the company knew
that its agents used the book and allowed
them to use it. The jury found for the de-
PENDANT. Such is the story, and we have
DaTGlGS:
but we wish the public to take in fully the
"bearings" OF this case, and also the
application on it."
In the first place, people ought to remem-
Der that the good repute of company is
no security that the particular agent solic-
| iting their custom is not liar Cor at least
| bound to get an application somehow, and
| if the nature of the contract gives him any
| latitude, he may not be virtuous enough to
| stick so close to facts as to lose commits
sion. Few men are; the best security for
| their truthfulness is that they shall have
no means Of classifying. This is the case
with THE TRAVELLERS Stock Plan it is
| not the case with any flexible" plan.
| Secondly, not one time in hundred will
victim find out his deception and be able
| to counter on it so quickly and easily as in
| this case. Within certain land pretty
| wide) limits, the agent can draw the long
bow at will, manipulate the possibilities
of dividends" or denominations" so as to
make the customer believe he will practi-
cally have nothing to pay after few years,
| draw his commissions, and long before the
| falsity of his estimates can be exposed
| he may be out of reach of all human law,
or at least out of reach of his victim, or
| secure under the limitations of time. 1t
| takes years-five at the lowest, perhaps
twenty-to decide positively on the success
| or failure of such expectations; those who
make the estimates are as safe in doing it
/
| fruit trees. You cannot know for perhaps
| half lifetime whether you will get the
| promised dividends" or 'saccumulations";
and IL you don't, what redress have you?
| Simply nothing-you must take what you
| get, grin and bear it. To be sure, you can
| lapse-a FOOLS resource. Many thousands
will remember the mischief of the "pre-
MUM note'' system: it would perhaps
have been well enough If all agents had
told the truth, but they never did; they
told just what would secure an application
most easily,-that the dividends wo1ld
cancel the notes, which would never have
to be paid at all. The widespread wrath
and hate which the failure of these de-
lusive promises caused did incalculable
mischief to the whole business Of life in
surance, and compelled the abolition
almost entirely of the note system. But
this was a trife compared to the ''tontine"
system, for an agent can simply promise
anything he pleases: when once you begin
to imagine that you are going to survive
and be prosperous while most of your fell
lows die or become poor, there is no assign
able limit to the sOar1Dgs OF fancy. And 1t
is ordinarily only in court room that the
character of agents assurances come out {;
1t is in just such place one ahould expect
the truth to become visible.
Now, the point to bear in mind is, that
no agent can monkey with The TRAVEL
ERs' figures at all. Even IL our Agents
were no better than others, and were as
willing to decorate the truth as anybody,
they have no chance to do it; the figures
are on the policies, and they represent an
absolutely closed transaction. There are
no Contingencies" Except that of death) J,
no perhaps" cost, no "return" of ten per
cent. In dividends after charging twenty
extra for premiums; the rates and the pay
ments are fixed, absolute, unfiuctuating
you take policy just as you buy Ratchet
or deposit money in bank, carry away
your goods or bank book, and that ends
your part of the business; we put the rates
down to a cash basis, and take the risks
and the profits ourselves. The Agent
might be thief and a liar, but that
would not harm the policy holder a par
ticle; he might run away or die, but what
of it? the Company would still be here, and
the Agents promises are Its promises. The
superiority of the Stock Plan is that Of a
bank over a lottery, of a straight purchase
of goods over vague partnership contract
ed with irresponsible and slip perry subordi-