Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1915-02-06
DUTY OF LIFE INSURANCE CON-
PANIES

! WI OF liFE tNSOHANOE SOW-
| PANIES.
| Life insurance is one of the most
beneficent products of civilization.
| Every man or woman who Is not rich
and has anyone dependent upon them
should carry some life insurance.
, Hundreds of thousands do carry life
insurance policies, but it is a fact that
| few people give 1t any thought to
speak of even at the time they are TAX
| ing it.
While there are a few hundred men
! in the country who have comprehen-
slve idea of life insurance, there are
millions who know nothing about it,
more than, that for payment OF about
J so much per year. some unknown par
=; ties will, at the death of the insured,
pay some money to those of the family
who are still living.
Thousands and thousands of policy
holders do not know that they can ar
range for settlement of their policies
| in different ways.
| In nine cases out of ten it is the form
| cf settlement that decides the real
value of life insurance policy. That
j is to say, it decides whether the bene-
ficiary will get the greatest benefit pos
sible 1t is stated that 80 per cent of
life insurance money that is paid out
by the companies on policies of $4,000
and over is lost in little more than
six years by those who receive 1t. On
smaller policies it is gone in less time
1t should be the duty of life insur-
ance companies to continuously call
the attention of the public to the neces-
sity of conservation of money received
as life insurance. What does the ordin-
airy woman know about handling $4,000
or $4,000 that suddenly comes into her
possession at the death of her hus-
band? The facts are that the great ma
iority OF men would lose part OF it be-
fore they would get what was left
placed where it would produce
regular income A settlement contract
by which the company could not pay
the principal before the end Of one,
three or five years but during such
period, would pay, say per cent an
nual interest to the beneficiary in quar-
terly payments. would save much In
surance money for those who ought to
have it.
Many of the companies have a form
of settlement something along the
above lines, but few people know it:
Those who most need SUCH a settle
ment do not know it. Other forms
available may be even more desirable.
Who knows what different forms they
do have? "a
The life insurance companies have
not done their part to inform the
people about what they have to sell.
I tho
business procession of.the times. They
put it,all up to their local agents they
put the whole burden on the agent to
prove that life insurance is benefit
and how it is to be benefit.
That is rot right, because by that
method the companies are not living
up to their responsibilities. They are
not doing their whole duty. 1t is the
duty of the big life insurance compan-
les to do their part to instruct the
people how to get the full benefit of
what they are paying for
Manufacturers who have something
to sell, advertise that it is for sale
through the local dealer. The manu-
facturer sets out the merits of his pro-
duct and informs the people how to use
1t to get the most good by such use.
Why do they do SO? Because it is a
business proposition, and it is good
business to tell the people about 1t.
What is the transaction of buying a
life insurance policy? 1t is business
proposition. Nothing else.
That is why the life insurance COM
panies should come out of the shell and
cooperate with their customers, by in
forming them of the benefits of their
plans of payments and settlements and
benefits. The companies ought to do
1.-THE people would welcome such an
effort !,
We realize that it can be said that
newspapers want this advertising. In
answer to that we will say that what
one newspaper wants has nothing
whatever to do with it. What Is asked
is that the people shall have the in
formation they ought to have, and that
the insurance companies furnish it to
them. If, through the newspaper, is
the most economical and quickest way
to give it to them, then the newspapers
should be used
A campaign of information should be
inaugurated by the companies.
MIGHT BE A BOOMERANG.
Reports from Des Moines are to the