Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-12-14
CONSERVATION Of
LIFE INSURANCE
IS URGED
President Day of Equitable
Says There Is Far Too Much
Waste; Policy Holders
Should Help.


New York. Dec lf.--Deciaring that
lone hundred million dollars Ii annual
Ily wantcd IN the business OF life IN.
lsnrauce and that the pOlicyholders
themselves are directly responslhle
Tor 0 large proportion og thiR wasie.
president " A Day OF the Equitable
ldfc Assurance society. NJ the hfih an.
lnnrl convention ui the Association NJ
iile Insurance prUfilanfg hero iodu5
urged that che representative lie Ia
sni oncr companies of The country
unite IN q campaign 90 education
THE interest taken during recent
years by the public IN all questions re-
lnilns 10 the conservation 81 our ma
ltefial resources ~. In the first place.
an acknowledgment that we have been
y wasteful nation" said Mr. Day. and
Indicates. In the second place. that
as yeopie we are beginning Ia see
the wisdom OF attempting 10 check
this exiravagance and waste. And
now that cur people are taking an In.
lterest In the conservation Of our ma.
teriai resources. ! believe they can be
Interested In the conservation OF life
insurance, which n universally recog-
nized "a an economic resource at
highest value. There Ia no department
In which better work can be done In
the direction OF conservation than IN
the life insurance field.
Those who are charged with the
responsibility Of conducting the af-
fairs Of Individual companies must dc.
eide upon the measures to be taken
10 decrease and minimize waste. Hui
in certain directions poliryholders can
DO more than the companies them.
selves. And II the companies will
unite IN explaining To the public how
this can be- done. far more can be
accomplished thar " only here and
thcro an individual company of this
country viii unite IN n campaign OF
education, whose object shall be 20
convince their policyholders that Il
HE insurance Is worth taking. II Is
worth keeping. that lapse means
waste; that the premature surrender
of policy means sacrifice and that
no life insurance contract fully per-
forms It's beneiicieni mission unless
maintained In lie integrity until final
maturity.
The average poiicyholdeF. while
rightfully demanding the highest de-
gree OF efficiency and economy In the
management OF his own company.
seems 10 feel that his duty ana re-
sponnlbiliiy end with the payment OF
his premium. Satisfied with the sound.
ness OF his company. he puts his pol
ley away. and the subject OF life in
surance drops from his mind.
AS result OF this indifference. and
lack OF personal attachment and 10y.
atty 10 theis companies, the policy.
holders themselves are directly re-
sp0nsiDle for g large proportion OF
waste which aggregates easily $780,
100000 annually This loss come
from needless borrowing OF reseryea
lapsing. unreasonable
taxes and excessive loss OF life due
10 reasonably preycntable or postpon.
able causes.
Life Insurance itself IL perhaps
the most successful and siupendous
scheme OF conservation known 10 civ.
ilIzation u strengthens the body
economic and lessens the danger OF
DAMAGE and loss In times of stress
and strain, both individual and gen
eraL II protects against the evil day
that incXOrable fate brings TO indlvid-
uais and nations alike. The American
people have provided themselves with
$4,000. 100000 OF legni reserve life In.
suIance-not voluntarily. not because
they have asked or demanded u, but