Daily press. [volume] (Newport News, Va.) 1896-current, 1906-12-28

compnnies) It must not be forgotten that these old
tables provide for payment of premium during the
whole of life. while under tables payment OF
premiums ceases ut age rs.
We have increased the immediate benefits un
der all OF these policies In accordance with the rule
W" made retroactive this year, half.bencfits dur
ing the first six months and full benefits thereafter
We have introduced into all of these policies new
ientures in the way of surrender values. Pad.,p
policies will DO granted after three years instead OF
five; extended insurance will he granted after three
ders Will be paid after ten years The policies will
be In new and attractive forms, with three pages
Instead Of two in order TO set forth all of the
cessions making the rights OF the policy -hoders no
plain that any one will be able to tell what he Is
entitled to- And the whole contract will be express
cd In the policy doing away entirely with the neces
sty OF copy of the application. using the form In
this respect for all policies which we adopted many
years ago for policies under $500
ORDINARY DEPARTMENT.
One of the most striking results OF tho Arm
strong Investigation was the adoption OF provision
restricting expenses for the first year of the life
of the policy. And what Is most interesting
as well as complimentary to the METROPOLITAN ia
the fact which appeared In the newspaper discussion
n; the time of the adoption of the report and bills
that this restriction by law Justified by the ex-
perlence of this Company In the matter of expense
as shown by analysis of it's annual reports II
is true that this Company kept its expenses almost
within the limit prescribed by the statute. But
the statute is penal and cannot run any
risk OF overrunning the limit of expense This
cessi,ates reduction of commissions the reduc-
by the companies issuing participating policies. This
Company will not Issue after this year any other
than non.particlpntns policies. In fact, in the true
sense of the term have not issued any other for
nearly fifteen years: for. have often explained
the Intermediate and Special Class policies
based upon stock or nonparticpatlng loading and
the dividends promised, If earned were expected to
be derived from the mortality. These policies
entirely novel and we had little experience to guide
us The intermediate policies were based upon our
Industrial table of mortality and designed for
Industrial risks who could afford to puy annual in.
mortality
n class could not he oretold. The Special Glass
policies were for sub.standard risks ms TO which the
mortality could not be accurately predicted. What
we undertook to do was to pay back to the policy
holders the gain from such Improvement in mortality
over the expected as should he actually experienced
AS participating policies are based upon higher or
socned mutual loading out of which dvi.'
claim that our intermediate and Special Glass
policies based upon stock loading in principle
Ordinary Department were by their terms nonparti.
cipating The law has justified us In the principles
we adopted fifteen years ago, and today the Arm
strong laws and the similar prepared for other
States vindcaion of the METROPOLITAN
principles In which you have trained. We have
now an experience of intermediate and Special Class
risks which enable us to prepare non.particiDnting
tables. The tables of premiums to these policies
have heretofore been completely readjusted We
think you VIII find them most attractive
We realize that shall hcnceforh have more
competition in Notwithstanding policies. Other
companies have announced their purpose to restrict
their issue to this FORM We have therefore thought
II in your interest well own and in the
interest of the public which Is superior TO both to
use part of the reduction of commission effect
some reduction of premium. New tables have been
prepared which we think will be attractive to
customers and which therefore will be profitable to
you. In adjusting these commissions have
thought only just to restore to the Superintendent
interest in them which we were compelled to
withdraw few years ago and which you will
remember, the Vice.President promised at the
time to restore when should be able
to arrange It. And have also recognized
the good work of Assistant Superntendents by giving
them an interest In the work of their agents We
realize that the duties of superintendent and Assist
ants include the instruction and training Of Industrial
agents in the work of the Ordinary Department. We
want all OF our agents to be allarolnd insurance
'nen. Our Superintendent and Assistants have i'm.
posed upon them as a duty the supervision. the con-
slant help and encouragement and the education of
their agents. We have made 1t an interest we'll
duty.
Our new policies Will he found attractive
III form and even attractive in substance They
contain all of the advantages and concessions which
we can afford to give and which the public have n
J. right to expect The surrender values will be