Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-21

insurance company has with each policy
holder determines this matter. AS mat
ter of fact l do not think that any great
objection be had to FIVE years ac-
counting. We are thinking some of doing
this on our own motion. although the dis
tribution would not be made until the policy
has matu-ed. No law should be made
retroactive. Contracts already in existence
should not be interfered with So far
future contracts are concerned. of course
We Will undertake to comply with the law,
whatever II may be.
Standard Form of Life Insurance.
Recommendation second There should
he standard forms of life insurance policies
like the standard fire insurance policy
Answer: I'VE do not believe in the idea
of restricting the forms of policy, because
OF the great variety of contracts which
policy holders desire. There are many men
Of many minds and their ideas in regard
TO a life insurance policy are just varied
as their ideas In regard to religion or in
regard 10 the clothes that they wear. We
think IT would he perfectly proper for
legislature to say that no special life in
sTFwure Of any kind could be Issued until
after the form had been approved by the
department of insurance. Policies have
been changing right along ever since the
insurance business commenced and GER
tainly nobody is foolish enough to say that
none of us viii ever issue an improved
policy We expect to make the/same prog
ress in life insurance policies that we hope
will be made I'm journalism although l hope
you do not for a minute think that / con-
slider life insurance has fallen to the very
low basis that your profession has
Third. In mutual companies there
should be territorial representation, so that
the policy hoders of each state may have a
voice I'm the manage ment
Publication of Policyholders' Names.
Answer: I'VE see no objection and very
little advantage I'm the proposition to give
I'm the management Of mutual companies.
but we see many reasons why 1t would be
a great mistake to insist on i list Of policy
holders being furnished to state commits
sIoners or published for general inspection.
II we furnished our list of policyholders,
amounting to over 45oHo, together with
their addresses, ! can see the Immediate
increase in the regular morning mail OF
every man on the list. until It becomes a
nuisance. Each one will receive requests
for charitable donations; each will receive
trade circulars from every body that you can
think Of: they will each receive catalogues
and price lists Of goods and every yellow
journal IN the country Will be sending them
sample copies of newspapers Altogether
! am inclined to think that the man OF
our policyholders would become so large
that in order to read Il properly they would
have no time 10 earn enough money 10 pay
their premiums In addition 70 this. II the
names of the policyholders should be fur
nlshed. every time one of them got into
litigation every time one Of them FAILED
In business they would garnishee the COM
pany having policy on his life, and 1t
would greatly increase the legal expenses
Of insurance. which are large enough now,
and which the policyhOlders have to pay.
Furthermore, many individuals just
anxious TO keep their life insurance sacred
as they are their bank accounts. and many
men object to other people knowing about
their private affairs. All l can say is that
II these lists are published the government
OF tho United States will have to pay dear
" for IT, because l am sure that the free
delivery service will have TO put three or
four additional carries on every route"
Fourth THAT political contributions and
lobby funds should be prohibited and that
all expenses should be itemized and pub
li<hed'
Repeated Examinations.
Answer: I'VE do not believe in political
contributions and improper legislative eX-
penses We do believe that the utmost pub
licity should be given to insurance methods
and expenses But we think 1t is a mis-
take for a big Insurance company IN New
York city. after It has had a most ex-
haustive examination at great expense to
its pollcyhOldcrs made by the state super
intendent OF insurance. 10 be compelled TO
submit To examinations by forty-four other
states. also al the expense of the policy