Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-03
Insurance.

The thirty-seventh annual convention OF
insurance commissioners assembled in
Washington yesterday and MIR. Macfar-
land. president of the board Of Commits
sioners of the District Of Columbia, In well
coming the strangers spoke truly when he
said:
1.-The national capital is honored by your
presence"
Mr. Mcfarland also did stroke Of busi-
ness when he said:
"As business men you will be interested
to know Of the evolution of our business
interests until now all looking for
greater commercial success and inviting
commercial visitors and investors to the
special business advantages of Washing
ton. Spread the news everywhere that we
want more Corners and without injuring
the special attractions of the capital we
expect to have a great advance in that d.
rectiOn'
President Barry Of the Association Of In
surance Commissioners said q number of
good things. but 1t is a serious question
whether the following remarks were among
them:
"If when taking out policy Of life in
surance man would exercise the same
caution and judgment that he does when
trading horses or purchasing suit of
clothes there would be no such outcry for
legislation to protect the poicyholders as
we have heard during the past year. But
we must recognize the fact that this degree
OF caution and judgment never has been
exercised by the lnsurlng public, and doubt
less never will be-
General observation would induce one to
believe that there are few things about
which the average man exercises so much
caution and to which he devotes so much
thought as he does in taking out policy
of life insurance. Whether he exercises
wisdom and discretion is another matter.
1t Is asking great deal of the average
man to exercise those rare qualities. But
that man Is cautious in taking out policy
practically every insurance solicitor will
affirm. There are few things which a man
will hold under consideration for so long a
time.
Just as soon as it Is known that he has
the subject Of life insurance under con-
sideration he Is swamped with informatio
more or less contradictory, concerning
straight life.' "paid-up policies" twenty
year payment life" and endowment insur-
ance, with a confusing array of facts bear
ing on premiums. dividends. cash surren-
der values. etc. There is struggle to de-
termine the protection value" Of this form
Of policy and the Investment value" of
that form: whether the annual dividend or
whether dividends should be cashed In.
used as an Offset against the premium, or
used for the purchase Of new insurance.
In weighing all these questions the aver.
age man is almost overwhelmed with the
conflicting claims Of rival companies, and
is face to face with a tangled problem. In
coming to a conclusion a man does the
best he knows how.
There is little doubt that President Barry
does the poor fellow who is only an aver
age man a deep injustice in saying that he
does not use as much caution in taking out
life insurance policy as in buying a suit
Of clothes. and surely Mr. Barry could not
compare the taking of a policy with the
act of swapping horses. for in the former
deal he must take something for granted
and must have some faith I'm his fellow
man: In the latter deal he should take
nothing for granted and should have no
faith in human nature.