New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-04

we must also bear i'm mind that at the end each
policy ana a. me annuity policy-the combined re-
per cent reserve basis cnG NE l SSpca Gh
substitution the two policies bond and the
have g got per cent bond running for
s sn noni number Of yesTsf you care to
however is not high enough rate of interes, to
combinations 1t must be per cent gold bond
the Csoe 9 90 issuing sh To get around this
1hf po gfsSs OF per Tbs o gives them
one sum- would make the annual instalments a
! 500 annuity, and calling the total an interest Of
ocaed intefest for twe on Al he
! pIraton of the twenty years the 500 annual in
the annuity Of $500 In order not to have the in
he exbirston of twe1t yer for tb 1e cobped
reserve on the paid up life policy and the $500 an
$1,000 al the end OF any year. This transaction is
b supv 'e hsf bo sophog psn Of cors 90
does not admit that the $4,000 bond is really a
scribes believe that. as it is really per cent
eh Of late the MGTh f 50 per
cent TO stu further carry out the hum6ug 10
an additional policy payable in twenty annual in
$500 annuitv-any rate a Interest that might be
however to over 500 would give the snap away
Simple as this per cent gold bond is when ex-
contracts actually believe that they have got what
deceptlNelV other words,
a company struggling hard to obtain per cent
interest. and with enormous expenses can actually
g 9hE per cent interest with life Insurance l" ad
WHAT REMEDIES SHOULD BE APPLIED.
As might naturally be supposed. expert who
has given the time and study to enable him to
form a competent judgment Of the causes which
operate against the healthy conduct and condition
OF the life insurance business. must have come TO
possess very clear views of the remedies to be
applied. Mr.. Bristol, the foregoing exposition
of the evils that surround the business OF lie IN
surance. at present conducted, shows, has made
this exhaustive study of the subject; and he has
very determined views TO the steps which must
be taken TO place the business upon safe and
equitable basis. To quote his words, he recon-
mends:
First. the repeal Of all laws that unduy favor
policyhooers; second, limiting the issue OF any
future policy, participating or non-particlpatlngS
premiums based upon The American table of
mortality, per cent interest. and uniform per
third limiting first commissions within the load
ing snd lh6 e rt OF coms5ons Spread over
the years of greatest lapse ratio would be the most
OF an enormous life insurance wase-this IS the cure
for all extravaganza; fourth, limiting investments
of companies 10 safe and conservative mes VIII VIII
especial re erence TO the prevention OF the form
being engaged in any way with sub-companies, Or
engaging in any other lines of business and the 90
competing me compaes 10 Iulis, IA vbere
plete annual statements 10 ~ ferreG the
basis Of such statements 10 be the annual dividends
BEEN Of 0 the deferred dividend class together with
Its proper interest and tontine accretons; sfxth'
within sixty days from date OF signing. and pre-
venting olcers agents trustees; ie In nV vaV
aid any one person from casing over 100 proxy
nual meetings, the election of officers trustees. ETC.
seventh, making a rebate policy legally void VIII
d penalty for the agent securing It's issue, a pen
ally for the polcyhoder accepting the rebate,
proportion OF one-third TO the person or persons
To the pbc Charities of the Stateif this should
be made retroactive as to policies now IN force,
the agents Of the racing COMPANIES YOU'D aga N 1e
York could show more humane tteatmen i OF Us
IlsiI.I az " and the c6nstutionaIity of anti-re-
bate law the sooner take their proper place as lac
tors In the evolution of wise and just life insurance
legislation"
Many of these Recommendations have been long
the Northwestern Mutual Life Insurance Company.
NEEDED Gp6ysons in The Insurance laws Of the
land. would, believe, put American life insurance
Sfttticisr q any normal nina ,r.t ~ p,,.
81 49, not beIieve thar because certain insur-
ance officers have been shown TO be unfalthful. II
IL expedient to have the remedies he suggests ad-
claims as men OF AFFAIRS are uhskllled III the HE
Let the finances of the companies be handled
Everything pertaining 10 the safety and progress
Of the Insurance features in the hands only OF con-
servadve and conscientious experts in life insur-
ance.'
When II was de!icately limited 10 him that his
training and reputation might render him eligible
for the task he quickly replied:
DO AWAY WITH MYSTERIES.
No money on earth could pay me to accept such
a responsibility, except I were allowed to revise
the present situation to thing-the simpli-
fcation of life insurance, the making of our deals
as simple as those OF the savings bank. Instead Of
issuing one hundred policies Of different forms 1
should issue four-the life policy with annual pre-
rniunls during life; the same policy, with limited
premiums for one. five. ten fifteen, twenty and
twenty-five years; the endowment policy, with
premium payable in same manner, and the much
neglected and greatly needed term policy-these
noIfcies to give as guarantees all the known con-
sentative safe life insurance factors. such as in
staIments, etc, in order to meet, not only the
present condition Of the insurer, but. Also his
changing circumstances, well as those OF his
beneficiary or any succeeding. or contingent bene-
In this connection. everything which has to do
sppication for he polic9 and. IN fact, everything
about the business, should be simplihed as TO be
entirely within the comprehension or the pracucal'
everyday business man. -
Chief among the reforms. however, is to get rid
loading. by which the father. for instance re-
ceives dividend of three times as muGh as t h
one example of a hundred things that make life
Insurance mysterious 10 the uninitiated; and mys-
ferv breeds distrust. These mysteries are the
agents burden-hs cross. Think, then, what they
Ht1ke should you walk up the street" pointing
out of the window. ito friends house and ring his
zen within it's sound are interested in life insur-
an~e But how many Of them, do you think, are
Competent unraved the complexities of the bust
that N shold be simplfed.'
ance had it's birth in London 1888 years ago. 1t had
practically been little improved Speaking of the
old life policy he characterized It as crime say