The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-06
FRANCISCO'S ADDRESS

+. +. Francisco of tho West Coast
Life. in responding to the toast. "Om
Association, Past, Present and Future,
said in part;
insurance men. as a rule. seldom refer
to the past, instead, arc always looking
| forward TO the bright and promising
| iutufe. However, as tho subject assigned
! me makes mention Of the past. IL is
| necessary for us TO pause for n few mo-
| rnenNs and take a retrospective view prior
| TO ard the formation OF the Utah Asso-
| ciation OF Life Underwriters.
Throughout most OF the eastern cities,
| insurance associations have been in active
| operation for a number OF years, but In
this newer western country especially
| IN the great state of Utah. dates back 10
lYOo and. with your kind attention.
viii attempt TO explain some Of the OBJ
lects OF this association. It's manner OF
! bcnehtng the public ms well as those
engaged in the writing Of lie Insurance.
me organization of this association
| took form about five years ago prior Ia
that time existing conditions were FAR
different than at present One of the OBJ
Jects OF this association is to correct this
honor and principle that will not indulge
In any practice reflecting upon the busi-
ness in which they are engaged or bring
the blush OF shame 10 the fair cheek Of
insurance In general.
Why Association Was Born.
lime VIII not permit TO nlcQtlOn D0t
two or three Of the then existing evils
that caused the formation OF this associ-
alton. 4 few OF the faithful got together.
Of which l understand John D. Spencer
was one of the prime factors, as well as
the first president CT the association, 1t
Is often jokingly remarked, however.
that, In Mr.. spencers election to the
presidency of the association, Tammany
Hall in its balmy day could not WELD
half the power, at any rate. the influence
OF Mr.. Spencer and those associated with
him in the good work commenced to be
felt throughout the state and two OF the
greatest evils OF the life insurance pro-
fession, that of the "Jwister" and the
"rebater" soon found that Utah was not
good place for them 10 practice their
unfair tactics.
The word "twister' is simply more
polite name for being crooked for as soon
as you begin TO twist in the life insur-
ance business you begin to get crooked.
To Illustrate. A man legally licensed
TO transact business in your state for a
legally licensed company writes an ap-
plication on the life of an applicant from
which a policy is issued, possibly before
or even after the premium is paid to
the regular licensed agent, one OF these
the form OF ''twister." calls and gives
the insured to understand that he made
a great mistake in the company he Sc
lected and as he, the "tWister'r is rep
resenting the Garden Life Insurance
Company Full OF Flowers" the only
course for the insured 10 pursue is to
drop the insurance he carries in the re-
liable company and take a policy in his
company which pays, so he says, much
larger dividends and gives larger
amount OF insurance at much smaller
cost, The dividends. you understand.
tainted money, but in the amount OF blue
sky the insured desires 10 select. together
with an option on the. SUMS rays, The
as much OF the Atlantic ocean as the in
sured desires set apart for his widow
and orphans 10 cruise in the handsomely
appointed yacht gIldsd with gold and
and every policy holder OF the company
represented by the "twister.'' In this way
he disturbs the peace OF mind OF the in
sured, as well as In number OF cases,
causes the Insured TO drop the policy he
holds I'm the reliable company and ac-
cept one OF the kind offering greater in
ducements When the insured finds he
does not receive the kind of policy prom
ised him, he condemns the life insurance
business in general and everybody con-
nected with 1t. Therefore. man en-
gagged in such unfair tactics cannot be-
come. or at least remain member of
this association. So much for the
'twister,"
Rebater an Evil
Another of the undesirables that we
often meet with in our business is that
known as the "rebater" The "rebater"
Is a man who lacks the ability 10 com
pete with mis- fellow man and lacks the
principles OF an insurance HILL ne D1lu-
ing that Mr.. Jones or Mr. Smith has
been solicited for life insurance calls on
the prospective applicant and through his
inability as n life insurance salesman.
offers as an inducement a reduction in
the first years premiums to be paid
by the applicant. In case policy is issued
on his life.
This association has rendered the state
a great service In cooperating with the
governor and the members OF your last
legislature In placing upon the statute
books OF this state one OF the best in
surance codes OF any state In the Union
Now for the present: We have in the
City of Salt Lake forty life insurance
represented by over seventy
five honorable. upright men. licensed by
the insurance department, conducting
their business In n fair honorable and
upright manner and when we find one OF
those men. if such is possible, that is in
any way deviating from the principles
and methods of right doing. he Is Mt
once reported 10 the department of in
surance and after an Investigation by the
department. II found guilty. the revoking
OF his license Is the remedy for his evil.
Although young IN years this assoca-
tion has at the present time twenty-five
active members In good standing. work
ing along the lines OF brotherly love, al
ways willing TO pluck thistle and plant
rose where n rose Will grow.