The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-12-11

way. 1t has been ascertained by the
post Office authorities that the propri-
etors of fraudulent schemes put out
of business during the year, have OBJ
! tanned from the public no less than
$77.0O0.OOO.
But this covers only those cases
that come to the attention of the de-
partment presumably on the COM
plant OF victims and of those, only
such as presented evidence that fur
nished hope Of conviction. Many more
were not detected. and a still greater
adroitly and under such advice, pur-
chased from interruptions lawyers
that they escape the clutches of the
law. It would be moderate I pre-
$77,00O.000 traced by the postoffice
department"
Group Insurance.
Widespread adoption of group insur-
ance would reduce materially the
number of women and children an
opinion of w. A. Day. president of
the Equitable Insurance society of
New York addressing the association.
Describing this form of indemnity
Mr.. Day said:
1T has the double function of pro-
tecting families Of the employed and
rewarding efficient and persistent SER
vice. The demands of living in these
days leave most American families a
margin between living conditions and
poverty that is not over strong. In
dividual insurance does it's part well.
but not adequately. Group insur-
ance widens the margin and provides
| security against distressful poverty.
Group insurance carries completely
through the realm of the employer
who presents for consideration ia
vorable group of risks. In such
groups ability to hold a Job effects
selection as to physical fitness that
makes the group under one employer
tally is concerned. Groups must be of
sufficient size to present reasonable
| opportunity for the law Of average to
| operate. Each group is associated
with other groups in a special class.
Thus far experience has shown clear
weaker ones in an average that gives
a lower mortality than that obtained
on Individual assurances through reg
ular medical examinations.
\ Advantages Of System.
Sufficient time has not elapsed
since the inauguration of group insur-
ance on which to predicate final judy
ment on all details. but 1t can be said
that up to the present. the theory in
ldicated has been substantiated in prac-
tice; namely that the mortality in
group insurance IL a superintendent
mortality.
From the employers standpoint
group insurance is the one way by
which he can make sure that every
man and woman in his employ is COW
cred by life insurance. Employers
rightly regard 1t as an effective vel
fare measure and an opportunity to
prove in good faith their interest in
those who collectively assure the sue
| cess of their enterprises.
Group life insurance insures the con-
IAf- IL 60
erous period and goes to the heart OF
the problem by protecting producing
values. Usually the amount of insur-
ance is one years wage and the en-
ployer generally supplies this much
gratis. leaving to the employee the
ance."
l Loans ON Policies.
i Arthur E. Childs Of Boston, president
Of the Columbian National Life Insur-
ance company, urged the association
to take prompt steps to educate the
public not to borrow on its life fnsur'
ance. Such loans had increased from
three and one-third per cent. of the
reserve funds Of American companies
in 1883 to Is per cent. in 1912, he said
and they probably would approach Il
per cent this, this year ar. or tn the three ant
funds at the end Of 1912 by life insur
ance companies in the United States
] Ave hundred and fifty million dollars
he said, had been loaned to policy hold
i ers.
I'm sub3ecting the reserve fund t.
loans" said Mr. ChiFds. life insuranc,
companies have left it open to tn,
, whimsical desire OF the insured. TOT
often these loans have been made with
. out the knowledge or consent of thu
family interested. Our present system
, Of granting loans upon demand is ap
parently incompatible with the othe
, functions of life insurance"