Lawrence democrat. (Lawrenceburg, Tenn.) 1884-1925, 1906-07-24
NUnBER O7

Disseminated AGAINST Bx THE com.
pANIEs

PANfEs
"a. l.. BENsoNs WATsoN's MAaAzrgn
As an illustration of one Of the most
con seienceless frauds that are being per.
petrated on most life insurance compan.
les the treatment of women who become
insured may be cited.
Practically all of the companies dis.
crminated in oneway or another against
women, on the ground that woman as
class are more likely 10 die prematurely
than are men as class. One company
will not sell non-participating insurance
TO women at any price, another adds 60
a thousand each year TO the non-partici-
painting rate; another puts women In
seprate class for dividends, which means
nothing 10 the women when she gets her
policy, but is nevertheless a gentle way
of breaking the news to her in the after
years, that she will get no dividends
worth mentioning; another will not sell
a policy to a woman on anything except
the deferred divident plan-and so on.
Now, all of these co mpanies will sell
annuities to women as well as to men.
An annuity is the exact opposite of life
insurance. When one buys an annuity
ne pays limp sum at the beginning, or
smaller sums during the first four or
five years, and the company pays him
an annual income until death. No medi-
cal examination is required, because the
sooner the holder of the annuity dies,
the better it will for the company. Intact
person buy an annuity today for
lump sum, with the understanding that
the company is to begin its payments to
him at the end of the year, and then die
tomorrow, the company simply keeps
the sum, and pays back nothing. On the
other hand, if the person live to be one
hundred years old, the company must
continue its payments until he dies.
1t is therefore plain that annuity rate
ought to be highest for thosewho might
expected to live the longest'and lowest
for those who might be expected to die
the youngest, And since the companies
. have Disseminated in life insurance. be-
cause of their alledged liability to early
death, it would seem as if women should
be sold annuities for less than men are
charged.
The exact opposite is the factwomen are
charged more than men.
For life income of $1,000, a man
forty years old is charged $l6,93O.
For the same income for life woman
forty years old is charged by the same
company, that discriminates against
women in life insurance,$lS,221-
What is the answer2
Just this:
Woman as class do live longer than
men. Every actuary knows this.
Therefore the wrong is not in charg
ing them more for annuities They
ought to be required to pay more for
annuities than men pay, because they
| live longer to draw their income. They
ought not, however, to be compelled to
pay more for insuranc than men pay, on
the theory that they are likley to die
young, and then be compelled to pay
more than men for annuities on the
ground that they are likely to live longer
than men. This is piece of brazen
robbery that could not be perpetrated
on community that was familiar with
life insurance. AS matter of fact,
women ought to be able to buy life in
surance. AS matter Of fact, wof en-
ought to be able to buy life insu ace
for less than men pay. and the only ap-
parent excuse for charging them more
is that they know so little about life in
surance that they will pay it.