Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-01-19
LIFE INSURANCE
HEADS MEET IN
BIG CONFERENCE
President to Address AssOcia-
ton Which Represents Twen-
ty Million PoIicy-Holders.

WASHINGTON, Jan. 1s.--ENecutive
oficers OF the principal life insurance
companies of the United States repre-
senting twenty million policy holders
and nearly four billion dollars in assets
began a conference here today at the
third annual meeting Of the Association
OF Life Insurance Presidents.
While the association itself Is COM
posed of the twenty-five, largest life
Insurance companies In the country, the
conference is in every sense an open
enc, and in all about one hundred COM
panies are represented. The four SEES
sions which will be held today and to
morrow viii be devoted to discussion
of uniform life insurance legislation in
the various States, and the new move
ment for the conservation of the public
health which recently originated with
some of the largest life companies.
The association of life insurance pres
taents was formed for the promotion OF
welfare of policy-holders soon after the
revision of insurance laws in the state
of New York. The companies repre-
scented In its membership hold that u
DER cent. of the assets of all the life
companies in the United States, and
have more than eight billions of insur-
ance In force. Some idea OF the mag
nitude OF the interests involved may be
gained from the statement that the
nnplber of policy holders concerned IN
this conference is greater than the pop
mar vote of the last presidential cleo
fiou. President Taft will speak to the
Insurance men tomorrow. and this aft
eruoon Governor Charles e. Hughes, OF
New York, will make an address.
The organization of a propaganda for
1l,c conservation of the public health,
which is being considered at this meet
ing is being taken up by the life COM
panies. strictly as q business one. The
~actuaries have calculated that If the
life Of every policy-hoider could be
prolonged one year not only the COM
panies would be benefited but the pol
ley -holders would see the reflection in
their own rewards.
The representation at the meeting Is
general. Insurance officials from the
Pacific coast are attending. The con-
ference is the greatest event OF the year
In the life insurance business.
From fifteen to twenty million dol
lars a year is the toll paid by the life
Insurance poiicy-holders OF this U
Try as a result OF the lack of uniformity
IN State insurance laws md practises,
according to l.. G. Fouse. This is at
least 5 per cent. of the yearly pay
ments TO policy-holders and bene-
ficiarics. he figures. Mr.. Fouse. who IL
president of the Fidelity Mutual Life
Insurance Company of Philadelphia.
made these figures known today in his
49, - E. ,r.n ,s~.EA 1T fhn AXarn-
tive committee of the association.
''The magnitude of the interests In
'volved is s~tupendous," said Mr.. Fouse.
ssSonc twenty five billion dollars of life
Insurance in various forms are in force
In the United States. with accumulated
assets of four billion dollars, of which
three and one-half billions are held by
the legal reserve companies. Over one
third Of the population has a direct in
terest in life insurance and more than
one-lialf of III remaining two-thirds
an indirect interest. 1t is exceedingly
important thai waste and unnecessary
taxation be stopped while extending
ample security and protection to the
interests involved.
.Some would seek to accomplish the
desired end through national laws ana
supervision; others through the har-
monizing of State laws n practises.
For the present we are particularly In
terested In the latter. 1t Is a fact that
cannot be controverted that the a
OF harmony in laws and practises has
been a detriment to the business. In
recent years. however, we have been
drifting towards uniformity and har-
mony, and there are who believe
that the laws of the various States
can be made consistent n homoge-
neous, and that 1t would be better for
all concerned that the business be con-
Quoted under such improved laws
rather than under a centralized adj
ministration. Hence. if the uniformity
hoped for can be accomplished, there
will be no need of national laws and
supervision"