Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1914-01-21

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than one died during 1913 from differing at
ages between 2e 3d. carrying s25oo Insur
Other payments Policyhoders 191s the form OF
dividends values endowments, etc., reached
ao2 49, making them for the year
distributed the previous year. and bringing the payments
to Polcyholders during sxty-four years that the
Company has been in business to s9 an amount
prodgious in far-reaching in allotment
and effect that imagination might almost fail in pcturing
the good which great thus
widely scattered.
Help places life through the periods of
adversely that and often do arise has for years
been included with Union Mutual Policies in way that
genuinely best alike of those insured
and those no would benefit Much experience has proved
the thorough going worth of the extended insurance
feature first the Maine Nom Forfeiture Law by
means OF which millions OF insurance have been Kept
active for those delinquent in premiums whether
stoned by misfortune neglect and under which, since
1877, when the idea first became operative, 1872 claims
amounting to 1856 $685. have been paid, death having
occurred before the period of continued insurance expired
In 1913, 81 such settled, representing 50O
Need be said these settlements prob
ably carried than the usual content into the broken
homes they benefited for is it not fair inference that
who cannot will not pay 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 with
out particular thought the part of those insured,
through the depreciation of the protection for bene
Charles. When pocyholder needs money for any pur
pose though be trivial temporary, the prac
tice become of turning to Life Insurance
for that help and of dsregardng for the time being,
perhaps altogether the mission of the policy which
all others in Importance the Safeguarding of
the family beyond the period of bereavement that
certain to be reached. The development of the loan
habit operates unfavoraby in these and other
which serious emphasis is placed the policy is at
handicapped and the protection reduced the insured is
inclined to become discouraged by the yearly charge
loan and abandon the contract al
together the beneficiary has portion Of the protection
taken when the loan is made and loses all OF il
the policy be given up; and the Company is under the
necessity Of keeping large hand uninvested in
order to be ready for whatever demand loans be
quested The problem is broadening rapidly into a
situation of earnest concern to pocyhoders and COM
panies that it had serious at recent meet
ing OF the Association OF Life Insurance Presidents while
convention OF the Insurance Commissioners from the
states taken to suggest the
of laws which shall restrict and modify the loan privilege
in future policies Well intentoned the feature
undoubtedly when first included in policies it has
far the original ideas that these suggestions be-
both timely and necessary Pocyhoders urged
exercise reluctance in requesting loan to keep their
requirements at the minimum il they must have the
money and to immediate plans for the repayment OF
the borrowed sum- in full partially, with little de-
possible all it much to their
own affairs to speedy eliminate the encumbrance.
In the upbuilng of the Company valuable help be
rendered by the direction of suggesting
ought to make capable Agents and of mention
ing persons who should policies These in
which those who insured be of service further
ing the interests of the mutual institution with which
they identified and they assured that the
will be especially grateful for all such evidences OF
good will and cooperation.
In the midst of this recurring period of business and
mt
many times heretofore the importance and the value
of protection stand forth prominently appeal
ing convncngly possession of huctuatng worth
and a dependable security.
The management looks into the New Year with much
confidence and large faith in the progress of this
country and with strong belief that the existing 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 Common,
DAVID G. HAMILTON,
j. FRANK LANG,
JOSIAH Fl. DRUMMoND,
WILLIAM T. COBB,
EDWARD B. WINsLow,
CHAs II. PRESCOTT,
WESTON LEWIS, Directors.
PORTLAND, MAINE, January H. 1914.
lger, Ellsworth, ne.