Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-06-03
LIFE INSURANCE
Y SHOWS BIG GAINS
Death Claims During 1913
Reached $646, $50, ooo-S3,-
800, ooo,o 900 in Policies.
INDUSTRY CAPTAINS DIE
WITHOUT ANY INSURANCE
Morgan, Brady, Hearn. keene,
FlagIer, Altman and Cay
nor on the List,

NEW YORK. June S.-Life insur-
ance organization of the United
States and Canada distributed $685.
500, 900 in 1913, according TO compute
tions issued by The Insurance Press.
The payments in the two countries
for death claims. matured endow-
ments and other benefits under the
policies of level-premium companies
and the certificates of other life in
surance organizations on the assess
Iaent basis amounted to s41S,S00,000.
For premium savings that eXper-
fence permitted. for cash values of
policies that were surrendered and
purchased, for annuities under con-
tracts and to the benefciaries under
policies issued in foreign countries,
the regular companies of the United
States and Canada paid amounts,
estimated in part, that aggregated
sos, lot. 900.
The aggregate of life insurance
written and received in the United
States by the regular companies was
almost $3.50, 100000, the increase
amounting to about S152.00000o.
An interesting feature in the com
pilation of the figures shows the in
crease in the number of payments
made to families whose head was
killed by an automobile accident. The
records show that the total payments
ON death claims in the country were
50 $50, 900 in advance of last year.
There was an increase of nearly 81
600, 600 in endowment claims. The sta
tistics also show that the companies
have made great strides in keeping up
the premium payments on policies and
that the lapses are fewer than i'll the
past.
The disbursements for surrendered
and purchased policies by companies
that have had in recent years 80 per
cent of the life insurance business
in the United States amounted last
year to SSl.350,o0o. an increase of
about SO. $50 .000 over the amount in
1872 For 1912 the increase was obOut
IS, SOC, coo. 1911. s., S53. 900. For 1910 the
record showed a decrease to the
amount of SiS7 600, although 1t had
90. 059 900 for increase in 1903 and $14,-
$4,000 in 1908.
In recent years the efforts of Office
executives and field agents have
been strenuous in discouraging the
surrender Of life insurance policies
the records have indicated that the
arguments were impressive.
The unfavorable feature of the
transactions in all parts of the
United States was the extent of the
applications for loans on life insur-
ance policies The increases of the
policy loan account have been 1906,
937 .e8o 900: 1907. 81, $50 goo; 1908. $685.,
20. 600: 1909, s34.940.000; 1910. $4,000
goo: 1911, SAL 100000; 1872 s43, 244.0 10;
1918. s63. rs, 600 Tho disturbance of
general business caused the increase
of policy loans In 1907; the adverse
condition Of general business i'll 1918
was indicated by the increase of
policy loans in 1913
The largest claim paid during the
year 1918 was on the policies held by
Albert +. Holden. of Brateuahl. O.,
whose beneficiaries received s3lS,3SS.
Mr. Holden was a former athlete Of
Harvard, q well-known mining en-
gineer and lumber magnate of the
West In 1906 he took out policy Of
5000 600 and in 1908 policy of 100000
j. Pierpont Morgan, who died in
Italy in March. 1918. had no insurance,
although he was a large stakeholder
and was a director in many insurance
companies. Anthony n. Brady who
left AN estate valued at $4,000, 600,
had no life insurance.
The same is true of Benjamin Att
man and George H Hearn. each of
whom left an estate of $20,00o000 and
Of James r. keene, Isaac V. Brokaw,
William J. Gaynor, Henry NJ. Flagler
and James McCrea.
Insurance experts do not attempt to
analyze the reasons why these men
did not have policies. In previous
years it always was the men who
were known to possess great wealth
and had figured much in the public
eye because of their holdings who led
the list OF big policy claims.
While his name is not included in
the statistics of 1913 George ". Van
derbilt. who died few months ago,
is said TO have had in one company a
life policy which called for more than
a million dollars. This claim, when
paid. probably will rank s the big
gest in many years.
Thomas a. Sperry, the trading
stamp man, of Crawford, n. j., car
ried an insurance policy of s165,O0O.
NEW ORDER