Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-12-12
LIFE INSURANCE

tAlI questions relating to life insur-
ance will be promptly answered by
the Press Bureau of the Utah Asso-
ciatlon of Life Underwriters. Address
<, o. BOX d24, Salt Lake City. Etahh
The novel remedy Of imposing Grim
inal c,enalties on officers of fraternal
organizations which insist on offering
mortality experience tables show such
Insurance. can be sold at and protec-
ton given. is proposed by Icno NJ Host,
former insurance commissioner of Wis.
consin, and one of the leading experts
on the subject of fraternal insurance in
this country. Says Mr.. Host: 1T
makes me shudder to think that ap-
proximatels 100000 people in the
United States are carrying unstable
Insurance III fratelnal societies, which
from the standpoint of benenciaries,
affects probably % per cent of the pop
acted compelling fraternal societies to
collect adequate rates within the next
two or three years, there will be many
more failures. There IS a law in every
state providing a penalty for the bank
president or cashier who accepts money
after his institution is bankrupt; there
ought to be a law penalizing the Off
GERS and managers of the fraternal So
ciety who continue wilfully to collect
inadequate rates from the member
ship
One officer of q western life insurance
company recently said: Theinsurance
funds of life policiesin the west ought
to be kept in the west and invested in
the west. In reply to this, the life
Insurance Independent says. There
is no east or west or north or south
in sound life insurance. The life insur-
ance that has to lean on sectionalsn
is confessedly unsound."
During the past 10 years 600 banks
and trust companies have closed their
doors. with liabilities Of over S3S0,OOo,-
600. During the past 10 years there
have been 80 railroad receivarships.
with over s600,00o,000 for stock and bond
issues involved While for life insur-
ance it can be said that for moro than
30 years there has not been one single
failure of an old line mutual life in-'
surance company which has been con-
tinuously on the legal reserve basis.
On Monday, Dec. z. President Farrell
of the association called meeting Of
the heads OF all the standing commit
tees to arrange for the annual banquet,
which will be given about the 9th OF
January. The most lively interest was
manifested by all present and the work
in detail was delegated to the respcc-
tive committees With instructions to
report next week.
~
Are you insured? Have you lease
on life? How many people are depend
ent on you for the necassaf'ies OF life?
II death happened to you tomorrow, in \
what condition would your affairs be
left? Are you saving anything for your
old age" Don't you think it would be
wise and dutiful to provide for both
or either of these certainties by taking
out 2o-y.ear policy now?
AS an evidence of the general inter-
est which is being taken in life insur-
ance taxation, it Is announced that the
meeting OF life insurance presidents.
which was called for Dec. A. was to be
devoted entirely to the question of in
taxation. When 1t is known
that notronly all the officers of the reg
ular life companies We're invited, but the
insurance commissioners of all the !
states also, the Importance of the con-
ference can be appreciated. The re-
suit of the conference will be awaited |
with anxiety, as it will without
doubt have some influence with forth
coming legislation.
The subject is one which deserves the
careful consideration of every life lin- |
derwrlter. When state levies say I
2 per cent premium tax upon the COM |
panies doing business within its bor- t
lers, it in effect says to all Of It's cti-
zens who desire insurance that they !
must may the state the sum of 81 for |
each 500 of premiums paid the com
panies for the privilege of purchasing
protection for their dependents. The
do not of course in any real
sense pay the tax: it is paid by the
and the company merely
tets as collecting agent on behalf of
he state governments. The amount of
he tax is simply added to the cost of
insurance through its being taken into
in fixing the expense
oading on the premiums. or II there
,o no actual addition to the rate to
make provision for the tax, the policy
lolder pays it just the same through a
decrease in his annual dividends.