The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-06-04
FACTS AND FIGURES
ON LIFE INSURANCE
During Last Year Over Half a
Million Dollars Was Paid
to UtahnS.
NEARLY HALF THIS SUM
CAME TO SALT LAKE
There Was One Claim Paid for
$4,000 and Two for
$4,000 Each.

Over half million dollars was paid
70 benefciaries of life insurance in Utah
in the year 1905. according to the In
surance Press. In carefully prepared
table, the Press shows that the gross
amount paid by the regular companies
exclusive of dividends 10 policy holders
TOR surrender values TO annuitauts and OF
claims in foreign countries, during the
year 1908, was $3So,sll 900. If divi
dends were included. the amount would
be S4S0,S11 900. The Press says:
No Progress During Year
From one point Of view. 1908 was prac
tically a year OF no progress, the official
returns from many states showing fall
ing off in payments for death claims and
endowments. To some extent the falling
on was due. to the extension of the busi-
ness disturbance during the closing
months of 1907, far into 1908. as indicated
By the increase OF loans on policies aad
the lapsation OF policies. the former re-
ducing the amount payable to beneiicia-
rles and the latter cutting off a large part
OF insurance protection. The effects of
adverse legislation. that was begun in
1906. were also toward the reduction OF
protection through the decrease OF agency
forces and the limitations on the business:
Returns from fraternal societies showed
amounts paid. indicating for them the ef-
lcct of the hard times.
According TO the returns TO the insur-
enc. department OF the state of New
York, there was an apparent increase OF
more than S55. $4,000 In loans on policies
in 1905. AT the close of the year the
their policies in companies that reported
was sS62.o29. AZ; reducing the insurance
Pr9teetion Of EioaSI 92a5ss to Slo135.
loans on policies by the companies that
reported to the state of New York in
1907 was s7e.5S7.235, as compared with
Loans on Life Policies
As in 1907. in many cases of loans on
life insurance policies commercial credit
was sustained. employers were able to
get sufficient money for the payment Of
the wages Of their employees. who other
wise would have been in straitened cir
Tnm and fS bept
loans-thosc taken by polIcyholders for
speculative purposes or for reloaning at
higher rates of lnterest-were not so en-
lensive as in 1907.
According also 10 the returns TO the
Insurance department OF the state of New
York the apparent increase In the term-
ma rlon Of life insurance policies other
than by death and maturity (cXplry. sur
render. lapse decrease) was s6l.6l3.00 300,
e J os lotS tSq of such sH7 nat was 81
policies through inability or unwillingness
TO carry insurance was the largest OF the
factors in the termination of life insur
ance protection.
In the estimate OF the payments of all
kinds. to the amount Of ssS0.S1l 900 IN
1905 the amount paid for lapsed. surren-
dered and purchased policies by all CT
the regular life insurance companies In
the Emitted States was moro than s14,
100000 indicating effect OF the finan
cial scare. The amount for. the similar
account I'm 1907 was about $50 600 600
An offset in part, to the amount paid
for surrendered policies was the amount
Of dividends paid 10 persistent policyhold
ers. the returns OF companies 10 the New
York department showing nearly S5e,Si0-
O60, an apparent increase OF S1.i30, 900.
Where Money Went.
or the gross amount paid in Utah,
s222 500 was paid beneficiaries in Salt
Lake. this city standing ninety-fourth
in the list of cities with population of
10000 and more in the amount paid and
the largest single claim paid in Utah
was for $20,00U. and this was on the
life of George Mullett. Two claims of
$4,000 each were paid out on the life
Ferdinand Dickert, the other on the life
of ID. H. Peery.
In Brigham City. S3l 629 was paid,
in Ogden S3l.470. The following cities
received sums under $4,000:
American Fork, Bear River City,
Beaver. Beaver county, Bingham, Bing