Daily Kennebec journal., 1914-01-15
9th Annual Report
Union Mutual Life Insurance Company
Portland, Maine.

reached 81 years, his Policy having
been running over 4S years, but one
who died at the age of "a had been
insured more than 63 years, and
rying his Policy nearly 81 years. The
shortest time that Policy was in
force under which death occurred was
II days, 35 being the age and live
wire accident the cause. Nine Policy
holders whose Insurance had been in
force less than one year died during
1918, from differing causes, at ages be-
tween 26 and SO, and were carrying
S12,500 Insurance.
Other payments to Policyholders in
1913, in the form of dividends. surren-
der values, endowments, ETC., reached
s1,319, 9,302.3S, making the total returns
to them for the year $2,105, ,443.67
which is $2S9,32S54 In excess of what
was so distributed the previous year,
and bringing the payments to Policy
holders during the sixty-four years
that the Company has been in busi-
ness to s49,s34,s4o.51. an amount so
prodigious in volume and so far
reaching in allotment and effect that
imagination might almost fail in pic
turing the good which it has done and
the great content thus so widely scat
tered,
Help over the hard places Of life,
through the periods of adversely that
can and often do arise, has for many
years been included with Union Mu-
tual Policies in way that genuinely
serves the best interests alike Of those
insured and those who would benefit.
Much experience has proved the thor
ough- going worth of the extended In
surance feature. first known as the
Maine Nom Forfeiture Law, by means
of which millions of insurance have
been kept active for those delinquent
in premiums, whether occasioned by
misfortune or neglect, and under
which, since 1877, when the idea first
became operative, 1872 claims, amount
ing to s1,s65, ,sso.s5, have been paid.
death having occurred before the
period of continued insurance ex-
pired. In 1918, 81 such cases were
settled, representing s25,5oo Insurance
Need it be said that these settlements
| probably carried more than the usual
content into the broken homes they
benefited, for is it not a fair INFER
ence that men who cannot or VIII not
paw Life Insurance premiums are un-
likely TO leave their families in finan-
cial comfort?
Reference has frequently been made
to the definite harm which policy loans
are occasioning. usually without par
ticular thought on the part OF those
insured, through the depreciation OF
the protection for beneficiaries. When
a. policyholder needs money for any
purpose. even though it be trivial and
temporary, the practice has become
common of turning to Life insurance
for that help, and of disregarding for
the time being, perhaps altogether
the mission Of the policy which super
sedes all others in importance-tne
safe guarding of the family beyond
the period of bereavement that is GER
tain to be reached. The development
of the loan habit operates unfavorably
in these and other ways, upon which
serious emphasis is placed: the policy
is at once handicapped and the pro-
lection reduced the insured Is in
clined to become discouraged by the
YEARLY charge for interest on the loan
and then to abandon the contract al
together; the beneficiary has portion
of the protection taken way when the
loan is made and loses all of 1t if the
policy be given up. and the Company
is under the necessity of keeping
large sums on hand uninvested in Or
der to be ready for whatever demand
loans may be requested. The problem
Is broadened so rapidly into situa-
ton of earnest concern to policy
holders and companies that it had
serious consideration at recent
meeting of the Association of Life In
surance Presidents, while at con-
vention of the Insurance Commission
ers from the several states measures
were taken to suggest the passage OF
laws which shall restrict and modify
the loan privilege in future policies.
Well as the loan feature
undoubtedly was when first included
in policies. it has so far outgrown the
original ideas that these suggestions
become both timely and necessary
Policyholders are urged to exercise re-
luctance in requesting loans; to keep
their requirements at the minimum II
they must have the money; and to
ho