The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-03-28
Insurance Companies Spending
Money to Find 10000 Lost
PoIicyFolders.

- NEW YORK. Mar. 27.--WIhat would
you say or do If you were suddenly
Informed that a large corporation was
making an extended effort to find you
In order to deliver a check for So 1000
which belonged to you by virtue Of
Entertained
You would undoubtedly feel inclin-
ed to treat tie matter lightly; you
would prob611ly think yourself In
tended as ID victim Of a joke; you
might imagine yourself in a dream
one OF those dreams which never
comes true; you would invariably re-
mark to yourself. There is no such
good fortune in store for me- and
vet you might be wrong.
Searches Arc Made.
According to conservative statistics
there are from 5000 to 10000 "yous
ln this country whose whereabouts are
being sought by these mighty corpor-
atoms They are spending thousands
OF dollars trying to find you in order
no deliver that which rightEully be-
longs to you and which in many In
stances necessity will be relieved.
Rarely does a debtor makes an ex-
tended effort to find creditor, but
that is in substance what these great
human agencies are endeayorlng to;
do.
Every life insurance company is
carrying on it's books today liabil-
dty OF thousands OF dollars represent
ing policies issued on the lives OF per-
sons now deceased under which no
claim has ever been made and under
which undoubtedly no claim will ever
be presented except by sweeping In
quiries Instituted by these companies
to ascertain the facts.
1t is estimated that there are rec
sOrds Of approximately 10000 policies
IN the hands of various life insurance
companies at the present time the
holders OF which have died without
any claims being presented. It is
conservative to state that there are
approximately 10000 heirs Interested
In these policies as benedciaries, to-
whom claims would be paid IL their
identity be proved and sufficient evil
.dence OF death OF the insured be pre-
scented
Cause of Condition.
This condition is due directly to the
5laxity of policy holders in confding in
their relatives, their indifference tow
ards keeping the insurance company
posted as to their whereabouts, the
separation OF families. to omission OF
these records in matters Of probate
iRndssnumerous other inexcusable de-
Practically every big insurance cor
.poration maintains card system for
8ndexing policy holders, showing the
name Of the insured, date OF his birth.
number and amount OF policies, and
his last known address. The organ
dzation uses every means TO keep the
record as accurate as possible De-
spite the care in handling this list
of iUformation, cases are continually
arising In which a communication to
the insured to his last known address
As returned as sunclaimed'' or "un-
called for
Consequently the company, before it
realizes it, has a large number of
slost policy hold ers. y When this list
has grown to thousands the company
naturally is compelled to institute an
or rather a search for
1lostspolcy holders IN pursuing this
Invests ation the company is obliged
to- solicit the cooperation OF the post
Office department., the army and navy
3tpwnsmen. distant relatives and. in
fact. any person OF company who
might have some clue as.to the where
;nlbolts OF the insured.
/ sweeping search for lost policy
connecticut company which resulted
In the compilation of some very in
teresting data From October L, 1911,
to January 1, 1916. inquiries were
made concerning 1854 policy holders
s9fsthiB number the addresses Of 2S19
we're secured, and 65S were eound to
have deceased. leaving l61 cases still
unknown. The per cent OF the policy
holders whose addresses we're secur-
ed and those who had deceased, to the
number OF cases Investigated is asa
The total cash payments made by this
company made during the period nam
ed son account of the claims 1t had
discovered during this Investigation,
were S26s,225 Al
Enmpanies Bear Expense.
is Interesting TO note this inves-
l5E7 e = i Q q u