The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-01-01
SANBR VIEWS OF
LIFE INSURANCE
Public Now Realizes the Honesty
and Ability with Which the
Business Is Conducted and the
Responsibility Of the Companies.
EVERY OBLIGATION SURE
OF REDEMPTION WHEN DUE
Management Of the Companies in
General Is Capable and Eco
nornioal and Solely in the In
| terests Of Their Policyholders.

nomlCal ana solely IN Cne III
terests of Their Policyholders.
BY HERBERT VANDERHooF.
In discussing the insurance tnvestiga-
ton and the many sensational reports
about it which have been filing the
columns Of the press for the past few
months, a leading life insurance Off
cial had this comment to make:
1--WE are told that a paper to sell must
be newsy. Every mistake and trans
erosion in life insurance comes under
this head. The hundreds Of millions Of
dollars safely and honestly Invested
the many companies prudently and oon-
servatively manageable men who have
a high regard for responsibility, will re-
main unnoticed unless they furnish
pretext for news. Mistakes or trans
gressions should not be overlooked Or
condoned. but spirit OF fairness and
the desire to diffuse amongst the people
correct Information on all interesting
subjects should lead the papers to give
some space to the favorable side OF our
business, without which fair and impair
tial judgment cannot be reached.
During the present agitation I have
not seen an article in commentator OF
the conservative and economically man
aged companies; nor have I seen an
article setting forth the ability Of each
and every company to pay it's contracts,
nor a. single caution to policy-holders to
be slow to surrender their insurance.
These remarks should appeal forcibly
to every man who carries q policy OF
insurance. The tendency Of all such in
designations as have been going on Is to
create a feeling Of panic among the I'M
thinking policy holders, who derive a gen.
eral impression that, because mismanage-
ment and extravaganza have been shown
among certain officials, therefore the
value Of their policies in all companies
Is imperiled, and that mismanagement
and extravaganza are part Of the affairs
OF all life insurance corporations.
Conditions Not General.
But 1t should be borne in mind that
such discreditable conditions as have been
exposed to the public view have only been
IN connection with a few companies. and
impaired the value Of the policies they
have outstanding. On the contrary these
very companies have been great money
makers, and every policy they have out
1nent bond There has never been a case
known where they have defaulted on
are amply able to meet every obligation
they have assumed.
The business Of life insurance is q
does ps 1her ESeh
great confidence in the other. The in
sured, often by means Of great self-de-
a oharse IF It, tS ss to his f family af
after he is dead He commits to the
insurance, company PORTION Of his es-
1 Sons aqS the hst astes
Of his children. Such a responsibility
or any share therein: Is not to be as
pOrtunity for gain Or for the qualification
of personal ambition.
These are the sentiments that actuate
Of Re ni ssa sate s asd
the remarkable rate Of their expansion
funds of policy-holders have been used
for the personal ends of the managers
have been few and far between, anc
Of unusual eeaditions within these sSt COM
panies.
Tho Benefit Of Investigation.
As rule, the policy-holders in these
very companies have not manifested any
alarm over the conditions that have beer
realized the fact that their interests were
in no manner put In jeopardy and in the
second place. because wherever there
has been any, looseness. shown in the
management there has been an imme
date effort to eliminate the officials re-
sponsble for it from any further interes
6 in the conduct of the companies. II
1t has only aimed to show UP what i:
discreditable. may be considered publ,
benefit Men who have been too long il
quate check upon their actions, are al
to become careless and slack in thei
methods, especially where they have tn
that at intervals drive one political part:
out Of power and lead to the installa
ton Of its opponents in the seat Of gov
eminent.
There has been nothing shown. how
ever. in this Investigation which Is in an,
way discreditable to the business Of lif
insurance rance. as a whole. nor should Their
been made to induce the policy holde
to terminals ter or surrender. his contract
In In that W; May he is assured Of certain
bssn tSns eo1et many Policies hay
lately, but there are signs that the wav
Of distrust which caused this action ha
tast IN yolm fs and that the
This fact speaks we'll for the SCUM
sense Gems OF TIE American people. It is un
denlable that Ute insurance is today tn
1s no other manner in which the grea
majority OF men can so safely and a
the same time SO cheaply assure the pro
lection Of their families in case of dealt
There are hundreds Of thousands q
widows in the country today who BIZ
$ Tor this wise provision by their hus
bands, would not know where thej
next meal was to come from Ther
are hundreds Of thousands Of chi
dren who, because of this same wis
forethought and self-denial on the pa>
OF their father, have been enabled
1--we In decency, to acquire a respectful
education, and to become capable ar
useful members of society. Any eau:
that leads to distrust Of life insuranc
therefore, would be nothing less than
public calamity. -.-s s.,"..
Men Of UnbIemished Reputation.
One swallow does not make a summe
neither does one extravaganza life insu
ance official imply that all are Of tt
same kind. 1t is q well proven fact tn
the managers of the life insurance cor
panies Of the United States today a
men Of the highest reputation for probf
and business acumen. They conduct Il
affairs Of their companies with an 9,
single to the interests OF the polio
holders, and frown down any attemp
at extravaganza. Even in the matter
salaries, moderation and self abnegatis
are the rule. There are thousands
officials connected with these companie
and 1t Is a well known fact that in mo