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

This company will not issue after this year
any other than non-participating ptScies
In fact, in the true sense of the term we
have not issued any other for nearly fifteen
years; for, as we have often explained, the
intermediate and Special Class policies were
based upon stock or a non-participatins
loading and the dividends promised, if earn
ed, were expected to be derived from the NOR
tality. These policies were entirely novel
and we had little experience to guide us.
The intermediate policies were based upon
our Industrial table of mortality and were
designed for Industrial risks who could
afford to pay annual instead of weekly pre-
miums; and the mortality of such a class
could not be foretold. The Special Glass
policies were for sub-standard risks as to
which the mortality could not be accurately
predicted. What we undertook to do was
pay back to the poicy-holders the gain
from such improvement in mortality over
the expected as should be actually expert
enced. AS participating policies are based
upon higher or so-called mutual loading
out of which dividends are expected to be
earned, we claim that our intermediate and
Special Class policies based upon stock
loading were in principle participating.
All of our other policies in the Ordinary
Department were by their terms non partici
pating. The law has justified us in the
principles we adopted fifteen years ago, and
to-day the Armstrong laws and the similar
ones prepared for other States are vindi-
cation of the Metropolitan principles in
which you have been trained. We have
now an experience of intermediate and
Special Glass risks which enable as to pre-
pare non-participating tables. The tables
of premiums as to these policies have here
tofore been completely readjusted. We think
you will find them most attractive.
We realize that we shall henceforth
EnN
policies. Other companies have announced
their purpose to restrict their issue to this
form. We have therefore thought it in your
interest as well as our own and in the in
terest of the public, which is superior to
both to use part of the reduction Of COM
mission to effect some reduction of premium
New tables have been prepared which we
think will be attractive to our customers
and which therefore will be profitable to
you. In adjusting these commissions we
have thought 1t only just to restore to the
superintendent an interest in them which
we were compelled to withdraw a few years
ago and which you remember the Vice
President promised at the time to restore
when We should be able to arrange it. And
we have also recognized the good work of
Assistant Superintendents by giving
them an interest in the work of their
agents. We realize that the duties of Super
1ntendents and Assistants include the in
struction and training of Industrial agents
in the work of the Ordinary Department We
want all of our agents to be allaround insur-
ances men. Our Superintendents and AS.
slstants have imposed upon them as a duty
the supervision, the constant help and en-
couragement and the education of their
agents We have made it an interest as
we'll as duty
Our new policies will be found most at.
tractiye in form and even more attractive
IN substance. They contain all of the ad
vantages and concessions which we can af
ford TO give and which the public have a
right to expect The surrender values will
pc found TO be generous and take the Cd,
tional forms of extended insurance, paid-up
insurance and cash. They are the standard
forms OF the New York Department, the
work OF experts which has legislative ap
proVal. They are as plain to the under.
standing as they can be made. We hayn
discontinued many plans as unnecessary
We shall issue Ordinary Life, Limited
Payment, Endowment and Term plans: and
we have applied for permission and hone
10 issue In addition three plans which The
public have stamped with their approval
namely, the Optional Life or Endowment
under new name, the Modified Endowment
with Lie option; the Guaranteed Dividend
also under new and more descriptive
name the Guaranteed Increased Endow
ment; and the Reduced Premium Life under
its new name, Life with Reduced Premiunl
after 20 Years
Gentlemen, we are entitled to say that
the Armstrong Investigation was a vindi
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