The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1906-12-28

toned to our reduced expenses; and the pay
ment of premiums ceasing after age Tive
shall put forth for 1907 new tables in the
Industrial department which are better than
any company has heretofore issued and bet
ter than we have ever before this felt it
safe to issue.
The most striking change in the Infan'
tile table, because there we substitute Life
tables with payment of premiums limited
to age rs for our comparatively short In
creasing Endowment tables now in use;
and are therefore enabled to pay in bene-
fits what we have been compelled to hold
as reserve liability upon the endowment fea
lures.
Our new lnfantiie tables will pay nearly
as much i- death benefits for weekly pre-
MUM of five cents as we have heretofore
paid for weekly premium of ten cents. 1t is
of course understood that the law fixes a
maximum of benefits payable upon children
and this we cannot exceed. We have there
fore increased the benefits at the later ages
for persistence. Thus at age two at entry
the benefit in case of death at age nine is
$173, while the benefit at age three at entry
dying at age nine is $169, and the benefit at
age four at entry at age nine is $165, and so
on. This is a recognition of the additional
years for which premiums have been paid
by those entering at earlier ages when
death occurs at the same age. 1t follows
from this large increase of benefits for five
cents that hereafter no policy will be issued
under the Infantile tables for total pre-
MUM of more than five cents And to meet
desire for less insurance, especially in
large families, we have table with pro-
portionate benefits for weekly premium
of three cents.
Our Adult tables show an increase of
benefits for the same premium based strict
upon our tables of mortality. At age ten
the increase is 1212 per cent over our
present Life table and nearly 1S per cent.
over our Increasing Life and Endowment
table. At age 20 the increase is over nine
per cent. and over 23 per cent. respectively;
at age 80 the increase is nearly six per
cent and nearly 20 per cent. respectively;
at age 40 the increase is two per, cent, and
over 13 per cent. respectively, and SO on.
And in comparing these tables with our pres
ent Whole Life tables (and with those of
most of the other industrial companies) it
must not be forgotten that these old tables
provide for payment of premium during the
whole of life, while under our new tables
payment of premiums ceases at age 75.
We have increased the immediate bene-
fits under all of these policies in accordance
with the rule we made retroactive this year,
to half-benefits during the first six months
and full benefits thereafter.
We have introduced into all of these
policies new features in the way of sur
granted after three years instead of five;
extended insurance will be granted after
three years at the option of the holder;
and cash surrenders will be paid after ten
years. The policies will be in new and at
tractive forms, with three pages instead of
two, in order to set forth ali of the conces-
sions making the rights of the policy-hold-
ers so plain that any one will be able to
tell what he is entitled to. And the whole
contract will be expressed in the policy do.
ing away entirely with the necessity of a
copy of the application, using the form in
this respect for all policies which we adopt
ed many years ago for policies under $500.
ORDINARY DEPARTMENT.
One of the most striking results of the
Armstrong Investigation was the adoption
of provision restricting expenses for the
first year of the life of the policy
And what is most interesting as well as
complimentary to the Metropolitan is the
fact which appeared in the newspaper dis
cussion at the time of the adoption of the
report and bills, that this restriction by law
was justified by the experience of this Com
pany in the matter of expense as shown by
an analysis of its annual reports. 1t is true
that this Company kept its expenses
almost within the limit prescribed
by the new statute. But the statute
is penal one and we cannot run
any risk of overrunning the limit of
expense This necessitates a reduction of
! commissions, but the reduction will be very
much less than that made necessary by the
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