The Republican journal. [volume] (Belfast, Me.) 1829-current, 1914-01-22


amount so prodgious in volume and so farreachng in
allotment and effect that Imagination might almost fall IN
picurng the good which it has done and the great con-
tents thus so widely scattered.
Help over the hard places of life through the periods
of adversely that and often do arise has for many
years been included with Union Mutual Policies in way
that genuinely the best interests alike OF those
insured and those who would benefit Much experience
proved the going worth of the extended IN
feature first known as the Maine
Law by means of which millions of insurance have been
kept active for those delinquent in premiums whether
occasoned by misfortune neglect and under which,
since 1877 when the idea first became operative 7S2
claims amounting to ST. 68O 49, have been paid death
having occurred before period of continued insurance
expired In 913 81 such settled, represent
ing 500 Insurance Need be said that these settle
probably carried than the usual contents into
the broken homes they benefited for it not fair infer
that who cannot will not Life Insurance
premiums unlikely to leave their families in financial
comfort?
Reference has frequently been made to the definite
harm which policy loans occasonng, usually without
particular thought the part of those insured through
the depreciation of the protection for beneciares When
pocyholder needs money for any purpose though
it be trivial and temporary the practice has become COM
of turning Life Insurance for that help and of dis
regarding for the time being, perhaps altogether the
mission of the policy which supersedes all others in i'm
portance-the safeguarding of the family beyond the
period of bereavement that is certain to be reached The
development of the loan habit operates unfavoraby in
these and other ways upon which serious emphasis is
placed the policy is at handicapped and the protec
ton reduced the insured inclined become discouraged
by the yearly charge for interest the loan and then to
abandon the atoeether the beneficiary has por
the protection taken away when the loan is made
and loses all of it if the policy be given and the Com
pany is under the necessity of keeping large on
hand unnvesed in order to be ready for whatever demand
loans be requested The problem is broadening SO
rapidly into situation of earnest to polcyhod
ers and companies that it consideration
meeting of the Association of Life Insurance Pres
dents, while at convention of the Insurance Commits
soners from the several States taken to
suggest the passage of laws which shall restrict and mod
ify the loan privilege in future policies Weintentioned
the loan feature undoubtedly when first included
in policies has far outgrown the original ideas that
these suggestions become both timely and necessary
Pocyhoders urged to exercise reluctance in request
ing loans to keep their requirements at the minimum if
they must have the money! and to make immediate plans
for repayment of the borrowed in full partial
ly with little delay as possible all because it
means so much to their affairs to speedily eliminate
the encumbrance.
In the upbuildng of the Company valuable help
rendered by Poicyhoders in the direction of suggesting
who ought to make capable Agents and of mention
ing persons who should have policies These ways
which those who insured be of service in further
the interests OF mutual INSTITUTION with winch
they identified and they assured that the manage
ment will be especially grateful for all such evidences of
good will and cooperation
In the midst of this recurring period of business and
financial depression which certainly pass, it
has many times heretofore, the importance and the value
insurance protection stand forth pre-eminently ap
pealing convncngy possession of non fuctuating
worth and as dependable security.
The management looks into the New Year with much
confidence and large faith the progress of this great
country and with strong belief that financial
unrest will soon be merely memory.
Respectfully submitted.
FRED E. RICHARDS President,
ARTHUR L. BATES, Vice President
EDWARD A. MOVES,
FRANK E. ALLEN ~
SELDEN CONN0R,
DAVID G. HAMILTON
J. FRANK LANG,
JOSIAH H. DRUMMoND,
WILLIAM T. COBB,
~' EDWARD B. WNsLow,
CHAs. H. PRESCOTT,
~. WESTON LEWIS, Directors.
PORTLAND, MAINE January IA, 1914.