Daily capital journal. (Salem, Oregon) 1903-1919, 1906-12-28


Life tables (and with those of most OF the other
Industrial Companiesl Il must not he 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 40
We have increased the immediate benefits under
all of these policies In accordance with the rule we
made retroactive this year. TO half-benehts during
the first six months and full benefits thereafter.
We have introduced into all OF these policies new
features in the way of surrender values. Pald-up
policies viii be granted after three years instead
of hye; extended insurance VIII be granted aiter
three years at the option of the holder; aud casn
surrenders with be paid after ten years, The poll
ces will be in new and attractive forms, with thre.
pages instead ot two In order to set iorth an OF
the concessions. making the rights of the policy
holders SO plain that any one will be able To tell
what he is entitled 20. And the whole contract VIII
be expressed in the policy, doing away entirely
with the necessity Of a copy OF the anpucuion'
using the form I'm this respect for all policies which
we adopted many years ago for policies under S3ou
ORDINARY DEPARTMENT.
one Of the most striking results OF the Arm
strong lnyes'ig0tion was the adoption OF provision
restricting expenses for the nrst year of the llfe OF
ne policy Aul wat a. most intoresting as wen
rs complimentary 60 the METROPOLITAN IL the
fact, wuiCA appeared In the newspaper discussion
r. i've time of the adoption OF the report ana blla
that this restriction by law was Justified 10y the
experience OF this Company In the matter OF eN-
penso as shown by analysis OF its annual reports
IL is true that this Company kept It's expenses al
most within the limit prescribed by the new stat
ute But the statute Is penal one ana We vahhut
run any risk of oyer-running the limit OF expense
This necesstatos n reduction OF commissions, out
the reduction will be very much less than that made
necessary by the companies Issuing paruclph.hk
pollcies This Company will not issue atter thls
year any other than non-parueipatng policies, ~
fact In the true sense of the term we nave hot w.
suel any other for nearly fifteen years lor, h ",
have often explained, the intermediate hnu spovle'
Class policies were based upon STOCK OF non,p' 4,
ticipating loading and the dividends promheu, y
earned were expected 20 be derived from the iuul'
talty These policies were entirety mover Anu ", W
had little experience TO guide US Inc lht'tinvS'".,
policies were based upon our lhuustIlAl u'l, ~
morality and were designed for Industrial flsh1
who could anord TO pay annual instead OF "woyhH w
premimums and the mortality or such 49, 49,
couId NOT be foretold. The Special class policies
were for sub-standard risks as 20 when the moI'N
ity could not be accurately predicted What W. W.
under took 10 do was TO pay back 70 the puH'2
boldere the gain from such Improvement IN mul'"l
49,, ,yer the expectod as should be actually eAper
fenced As participating policies nft paa'u "p "pgl 4,
higher or so-called mutual loading out on WIZ, ~,
diyldends are expected 10 be earned We elAlin tnu
our Immediate and Special class poh'les ,,, u.s.
upon a stock loading we're In principle h"n,pai'a III,
neting An OF our other policies In the luna ,
Department were by their terms hou, @ % odont
The law has Justified us In the principles ", au"p, wv
"a ofteen wears ago. and today the ArmsIonk nv nv
and the similar ones prepared 10, . usns t.ctnie
vindication Of the METhofo - 49, ~ no,g a,
4, ,ybich Won have been trained we nv. % ~ -
s,ericnce Of intermediate and Special 'laAs l.an a
which enable ms 20 prepare -, ,bss nolI
tables The tables OF premlmuns -, - ~ raadtusted
ffF
NJ think you will find them most attta'uNo. .
,Ve realize that We shall henceiofih nav Oh
co,nnetltion in non-participating pohvlva, -
np,nies have announced their purpose y" ,ra'b
49, tSsre to this form. We have therefore ,"o', ~ a.
=, a. ,our interest as well as onr own anu ~ h,t
i,rest of the public which u superior 70 -, ~ ~
,,s. a mart of the reduction OF cemuli.l11n ~ bsy
49, some reduction Of premium Ne" no,,' ,sD's
- rrenared which We think VIII De M Az "a e
~" ,s,n,ners and which therefore VIII p, ~ 49, =
,i ~ Won I'm adjusting these eomiRa.s0n s,ner,,
-" tbouRht II only just 20 restore 70 M cou
sate an Interest Ia them when ". es,eh 80
a1Nd a. withdraw a few years $50 anH y, ~ ,i,r
pear,her The vice President promlasu a 80 ~
roStore when We should be able 20 80
70 80 have also recognized the Eoou " iate
ahI,a,t ahI superintendenu by SWING ,h'u' 1i a. an
~, Az he work of their agents. ". l,s,snts 4
s,ti.. ~ sunerintondontu ana ~ ,a,,-t, II
,,e ,bc instruction and training o' n,,'s,te,er
cluu. ln he work of the Ordinary ~ t',,rsn
ss,at eu our agents 10 be az -aiouho hs,s 4,
our guperintendenta and As.is,an,5, .iil,sion h
H, mon them a. duty the sup. ~. sdue
ps,.nt helm and encouragement % %aNn 80 tnters
,sn 80 their agents. We have maus u -"
a. we'll as a duty. . ..,..,t..
our new policies will be found most Attfa''@ss @
,.yn ana even more attractive In substance. ih
ontain an Of the advantages ana coheea.iohs WI @
- can anord 20 give and which the pnbie hA'S