Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-10-24
LIFE INSURANCE

| (All questions rclnting to life insur
nncc will be promptly answered b.
| the Press Bureau of the Utah Asso
citation of Life Underwriters. address!
r. o. Box i24, Salt Lake City, Utah) I.
The two local life insurance COM
panies have appointed representatives
to become members Of the legislative
committee of the Utah Association of
Life Underwriters. which is prepar-
Ing to suggest code for the super
vision of life insurance in Utah.
The Beneficial LIES representative Is
Mr.. N G. Stringham, and the Conti-
mental Lies representative Is Judge
r. J. Dowdell.
Judge Dowdell comes to the commit
tee with an Invaluable experience
acquired through long practise In sew
eral states, and Mr., Stringham brings
a practical knowledge covering years
of observation In the fire insurance line.
The members OF the committee as
now organized are President VIII G..
Farrell, Secy. NJ. l.. Robinson. John D.
Spencer, Rulon s. Wells, Joseph Melt
Zer Judge r. j. Dowdell and N. G.
Stringham.
Tho committee met Tuesday morn
ing in the office of President Farrell
and had under consideration, the bill
prepared by Insurance Commissioner
II. j. McComb of the state of Oklahoma.
long letter from the commissioner
explaining the Oklahoma bill was read
in connection with the bill and it was
decided by the committee to use the
Oklahoma bill as a basis Of the code
to be prepared. +
The bill has In contemplation the ex-.
clusion from the state of all business
associations writing insurance upon the
assessment plan. This action Is based
upon the proof that no organization
except fraternal order can successful
ly write life insurance upon the assess
ment plan.
1t is contemplated to propose that all
fraternal assessment societies should
be encoura ged in writing assessment
insurance with adequate rates. The
rates to be suggested for establishment
are those adopted by the National Fra
ternal congress. which congress has
employed actuarial talent to enable It
to arrive at safe and adequate rate
to charge.
The tables OF mortality are the prov
en- results of years and years of ex-
perience and as surely as they are ig-
nored, failure will result sooner or lat
er. After the thousands upon thou
sands of failures OF those companies
which have attempted the impossible,
the millions of disappointed and de-
pleted victims of the system demand
sue contracts In defiance OF the his
tory of this experience and leave in Its
wake. when 1t fails, the misery, want
and suffering that will come to the WI
dows and orphans who have looked to
1t for protection. Among tho assess
ment companies that are we'll remem-
bered and have passed into oblivion
are: Bay State Beneficiary association,
Massa chusetts; Covenant Mutual Life.
Galcsburg Ill Massachusetts Benefit
Life Association; Masonic Mutual Life,
Cleveland, Conn; National Life as
sociation, Hartford, Conn; Northwest
ern Life Assurance company Chicago,
ILL.,; Piqua Mutual Aid. Piqua. o.;
Southwestern Mutual Life Marshall-
town, Ia. and Mutual Reserve of New
York The Mutual Reserve tried to
save itself by Incorporating April
II, 1902, as a legal reserve company.
3S2 assets, or 81 for every SIS outstand-
ing insurance. In 1908 it is In the hands
OF receivers.
Commissioner Bell of Kentucky has
determined to ask the next legislature
to put fraternal orders under the SUI
pervision of his department. Mr.. Bell
almost daily receives letters complain
Ing that the writer's have been unfair
ly treated by traternal orders and 1t Is
his opinion that the necessity for re-
form In this direction Is urgent. a
number of the higher class fraternal
orders are in favor of Commissioner
Bells approval. AT the present no fra
ternal order is required to make any
sort of report to any state official In
Kentucky and the promoters of such
do practically as they
please In their dealings with the public.