New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-07
FIT POLICY TO HOLDER"
Life Insurance Men Declare
Standard Is Needed.
DECRY HAPHAZARD METHOD
WAYS to Please Customers
Discussed at Last Session
of Convention.


was the subject of the discussion yester-
day, at the second and last days session
OF the convention OF the Association Of
Life Insurance Presidents. at the Hotel
Astor. Opening the meeting, George j.
Cochran, the chairman. said that some
standard OF insurance requirements, from
the viewpoint Of the policyholder. both
in regard TO the kind OF policies and the
amounts for which they were written.
was needed. 1t was certain that there
should be a scientific and not hap
hazard method Of writing policies for life
insurance, and II was the purpose OF the
association to begin campaign FOR the
education OF the public as we'll as the
life insurance men.
II was Mr.. Cochran's idea that more
confidential relations should be estao-
lshed between agents for life insurance
companies and the policyholders-such re-
lations as existed between the client ana
the lawyer.
Frank II. Harrison. Insurance Commits
sioner OF Massachusetts, and president Oh
the National Association OF Insurance
Commissioners, was the first speaker
Mr.. Harrison said. In part:
We can agree. / think, that harmony
is the order OF the universe. nov, Leo u9
apply this law 10 the business OF placing
life Insurance Shall the policy De htteu
10 the circumstances and needs OF tne
insured? Shall II be one thSt ne ~
carry without its seeming TO ne an IN
tolerable burden? Take, IL YOU please
the case OF q life insurance salesman' ne
has spent hours I'm laying his plans 10 GET
an application. He finally gets the APP
pllcation at a great expenditure OF enort.
1t has been at high cost Tor ra pproRyI
one The insured. however, begins 10
realize as the months go on that the our
den he has assumed Is heavy. IL isn
properly adjusted to his figure. IT chafes
and IrrItates He sees where he would
have been better off under his circun-
starces TO have had more insurance Tor
the same or less money, or less lhsuta.ee
for II. with a chance that ne would oene
m By IL in his old age. when he misht
need IT, rather than some one VINO NAG
no claim upon him. He concludes, ana
perhaps wisely, 20 drop IL as not adapted
10 him.
policyholder? We have too frequently
seen men. who have made a faiiure OF
about everything else they ever tried
seeking for licenses as agents 20 sell Hie
Insurance. one reason ior u rs lndI W
have given insufficient weight 70 the
value OF getting rid OF friction and waste
by adapting the policy 10 the policyhold-
or. When full value Is given 70 that
thought in selling life insurance. more
attention will be given 10 Oh agent who
sells It. who must. like &. 1..yslcisn and
the lawyer. enter into co. dental rela-
tons With the applicant TO he or the
most service.
Following Mr.. Hardison's address.
Chairman Cochran presented an embossed
Invitation to the life insurance presi-
dents urging them TO hold their 1913
meeting At San Francisco. 81 the time
Of the exposition in that city. II was
received with applause. and VIII be acted
upon by the association at a later date.
Frank Ayres. OF New York. fourth vice
president OF the Metropolitan Life In
surance Company. said that every In
surance company wanted growth. sta
billty and permanency. and that the best
way TO secure these things was Tor each
agent TO AZ each policy he wrote 10 the
,rd,yidual needs OF the particular policy
holder.
William d Wyman. OF Pittsheld. Mass
president OF the Berkshire Life Insurance
Co,nnanv. said the most valuable asset
q, a life insurance company was a body
of contented policyholders. and that a
discontented policyholder was one VINO
had received a policy not suited TO him.
n. said that the life insurance business
was IKE every other business-it needed
satisfied customers TO succeed.
Neil D. snls, president OF the National
Life Underwriters Association OF hich-
nond Va. Henry NOR. associate actuary
., The Hmm. Life; william c. Johnson
nresid.nt Of the Columbia National. ana
Ivpn Cox. general counsel and manager
Of the Association OF Life insurance
presidents. entered into the discussion.
Al the afternoon and closing session OF
the meeting the hrst speaker was DARBY DARBY
A Dav. chicago manager OF the MvtnGi
- = M Insnraree Company OF New YORK;
His subject was The The peysSp@fH' f fRe
Conser saI wa. David Parks Fackler,
Of New York, senior .xpresdeni ,s OF ,1 the
actuarial Society OF America; his so STo
lei was Little Known Policy fori"s
We'll FITTED TO the Average Man