The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1912-12-07
LIFE INSURANCE
FOR THE INDIVIDUAL

TUn Inc lNUlVlUURL
New York, Dec 6-Managers of life
companies are seeking to stimulate a
eountry-wide movement for greater co
operation between policyholders and
agents, to the end that there shall be
a better adjustment of the policy to
the needs of the individual This was
developed at todays session of the
Sixth Annual Convention of the Assoc
iation of Life Insurance Presidents
The entire days proceedings were de-
voted to consideration of the problem
of Fitting the Policy to the Policy
lholder' State supervisory officials join
ed with company presidents, actuaries
and agents in trying to evolve some
Standardization of insurance require
ments. from the viewpoint of the pol
licyholder, both as the kind of policies
that a thoroughly scientific writing of
life insurance for the individual invol-
we'd accurate knowledge as to his in
come, property interests, nature of bus
iness, number and age of dependents,
kind and amount of insurance hither
to obtained and now carried etc. 1t
was therefore urged that the estab-
lishment OF more confidential relat-
ions between agents and policyholders
such as exist between lawer and client
physician and patient, was essential
to the solution of the problem of fitting
policies to policyholders needs.
The Honorable Frank H. Hardison,
of Boston, Insurance Commissioner of
Massachetts and President of the Nat
ional Convention of Insurance Comiss-
toner's, said
when man applies to a physician
for advice he, if he is wise discloses
every symptom to that physician, tell
ing him about things he never breath
ed aloud before perhaps, and making
him a pardner in a knowledge of the
innermost secrets of his body as far
as he knows them. The physician is
then in a position to apply his skill by
Iresting his diagnosis on the truth, the
whole truth and nothing but the truth
D So too in legal matters, the lawyer
who does not get the details of the
case is in no position to advise wisely
, But to what physician and to what
attorney does a person give up all this
private and secret knowledge? Only
to one in whom he has confidence
The wiser the one wanting advice the
wiser counselor he seeks. No youth
in his teens will be sought for advice
on these subjects. Hence those who
wish to practice law or medicine must
not only prepair themselves for it by
a long course of study, and then pass
certain tests of knowledge which the
State requires, but must spend years
: of waiting for maturity in thought and
Judgement Then men turn to them
and not in vain.
Can you expect that a person will
take the opposite course when life in
l. surance is the object of his attention?
True it is that he may take a policy
from a person whom he has not select
ed with the same care as he has his
doctor or his lawyer; but think how
many times greater are the chances OF
misfit than would be the case were
the agent a person in whom the appli
} cant had as much confidence as in the
doctor or lawyer-a person whose
knowledge and judgement he felt tC
be sound and to whom he could tel
in confidence all his personal, family
| and business affairs in order that hC
might obtain insurance fitted to hi.
needs by one trained as an expert il
! such matters. But you need not think
tH6tl c hltJlI IL t1Olho w 5lNb hin NOhii
dence to a boy or girl in his teens
such as ! have been yainly Emporium
ed to license, the importantly coming
from agency directors whose though
p seemed to be that here was a chance
to get perhaps few applications from
the relatives or friends of the agent
Such agents are not suitable for advis
! ers, they cannot give worthy counci
fir the one reason if for no other thai
they will not be given the same full
information upon which to come to 6
conclusion which shall result in pol
icy which fits the policy-holder What
have predicted of the youthful agent
3 is almost as true of the unscooled anC
L i'll adapted one, whose efforts to fiji
the policy-holder would be bunglint
i at best.
Now what is the moral of all this
Simply that fitness tends to reduce
D friction which result in loss and waste