The news-democrat. (Providence, R.I.) 1906-1909, 1906-12-24
METROPOLITAN LIFE
MAKES ANNOUNCEMENT

What is an informing paper Issued
by any life insurance company during the
year has Just appeared over the signature
of John w Hegeman, president OF the
Metropolitan Life, and while the COM
munication is addressed to the company
agents, and is i'm the nature of review
and announcement covering matters
chiefly interesting to the field forcee It
deserves reading by all who hold or IN
tends TO secure a life insurance policy.
II appears tho company has for some
time been engaged I'm the preparation OF
new mortality tables based upon It's
own experience BY comparison OF gwen
periods in recent years with corresponding
periods I'm former years, back 10 1890, II
is established that among the company's
poicyholders there has been sufficient
improvement i'm mortality Uhat Is, a
smaller average of doaths) To warrant
certain changes affecting future premiums
and benefits, all directly I'm the interest OF
those insured in the compsny With char
acteristic thoroughness and frankness
these results and changes are specified I'm
minute detail, not put forth as "esti-
mates" or promises.
Their significance TO the public is re-
duction In the price of insurance I'm the
Industrial department, and through re-
adjustment of commission rates TO agents
a reduction of premiums charged In the
ordinary department.
Concerning policies to be issued In 1897
this Information is given:
"Our new policies will be found most
attractive i'm form and even more attrac-
tive In substance. They contain all OF
the advantages and concessions which we
can afford TO give and which the public
have the right 60 expect. The surrender
values will he found to be generous and
take the optional forms of extended in
surance paid-up insurance and cash.
They are the standard forms OF the New
York department the work OF experts
which has legislative approval. They are
as plain to- the understanding as they can
be made. We have discontinued many
plans as unnecessary. We shall issue or
dlnary life, limited payment. endowment
and term plans. and We have applied for
permission and hope TO issue In addition
three plans which the public have stamp
ed with their approval-namely, the OPP
tional life or endowment, under new
name, the modified endowment with life
option, the guaranteed dividend, also un
der new and more descriptive name,
the guaranteed increased endowment. and
the reduced premium life under its new
name. life with reduced premium after
20 years
one passage relates to the companys
liberal policy Of distributing dividends and
benefits not contemplated in its contracts.
President Hegeman asks his agents To
note that This year the company has
been dsbursng the enormous sum OF
about two millions of dollars In voluntary
lividends upon non-participating indus
rial policies. bringing the total amount of |
lnpromlsed dividends i'm II years To about |
en- millions of dollars TO Industrial pol !
cyhoIders i'm the form of dividends on |
premiums. dividends on death claims and |
Increases of benefits upon existing poll |
les" He adds: I'VE have been enabled |
o accomplish this work all these years |
" steady improvements i'm business
Methods. by steady extensions of business |
erritory. by steady additions to insurance |
n force by watchfulness in writing and |
aking care OF business, resulting i'm de-
'reasing death rate, decreasing lapse rate |
md decreasing expense rate. These inn |
,rovments we have, announced TO you /
rom wear 90 year; but perhaps from TINS J
cry fact--their gradual. steady progress
ivcness-you have failed TO grasp their |
NIL significance. Yet year by year we |
rave told you our aim-to reduce eN-
,enses. TO improve the death rate To bet |
er the policies. to distribute the surplus. |
% that each year a larger proportionate |
amount could be returned to policyholders /
Ind n smaller proportionate amount uscd |
n expenses"
lie further says that although the year |
s not ended, records show from July | |
% date CDcc. D. the company's increase
" industrial business exceeded the In |
crease of any previous year with the eN-
reption of two. that in the ordinary life
department business of September equal
led September 1905, while October and
November showed a large Increase Fur
sher ne says
Taking the last six months for COM
to November inclusive-you
wrote more ordinary than ever was writ
ten hv tho company I'm the corresponding
and exceeded 1905 by over six
millions and a half. and this IL must be
by more than 5000 less men
other matters discussed I'm the am
are no lcss interesting than
whose referred TO in this review,