Evening journal., 1920-03-18
underwriters
ENJOY BANQUET
Delaware Association Hears
Experts Discuss life In
Surance Benefits
DELAWAREANS
WELL PROTECTED

More than nifty men. well known in
insurance circles, Including a number
OF national prominence, attended the
twentieth annual dinner Of the Della
ware Association of Life Underwriters
in The duBarry room OF the Hotel du-
Pont last night. solomon 5. Huebner,
OF the University Of Pennsylvania, was
the principal speaker. T. Blair Ely,
president OF the association. presided.
Among the guests were Mayor Taylor
and Louis F. Paret president Of the
Philadelphia Association OF Life I'm
derwriters, and Thomas r. Wilson, in
surance commissioner OF Delaware.
In his address Prof Huebner drew at
tention 10 the fact that all life insur-
snoe Is business life insurance. Even
so-called family life insurance Is busi-
ness Insurance in the sense that tho
family is a mans first and most I'M
portant business which needs 10 be
protected against bankruptcy. More
over, In the overwhelming mass Of
cases there Is a very close relationship
between business and the family well
fare.
In recent years a new conception has
been developing which emphasizes the
importance OF the value Of human life.
There was a time when emphasis was
placed upon buildings, machinery. land
and good will, and the science OF corr
poration finance dealt with the capt. |
talization Of such values. To-day, how |
ever, we are emphasizing the human /
factor and capitalization Of life values. |
Life Insurance is corporation finance in |
the striotest sense OF the term, since IL |
is the means OF capltalizing the value |
OF human lives.
From strictly business standpoint,
as distinguished from family uses. life /
Insurance Is useful at an stages OF our
business carer. For many people life
Insurance serves as an admirable means |
OF borrowing money without the pos
session OF tangible collateral security. /
Thus, a young msH. may be enabled to
obtain an education, or 10 secure his
initial source OF capital by borrowing
from someone who has confidence in
his integrity, and who knows that the
loan VIII be repaid In case the bOr-
rover continues to live. Against the /
contingency Of death-the one risk
which is otherwise unavOidable-l'fe in
surance viii grant adequate protection.
For those who are successfully sci
Nf "a AA'ih'oH AAAN AIlNuIdUUt UTOlGF=
tion is necessary for all degrees OF
workers. Its FIRST application extend
ed to the indemnlncation Of the husi-
ness against the loss OF the life Of the
owner or main capitalist OF the husl-
ness. Huge policies are In existence
today In favor OF business enter
prises on the life Of the individual
who represents the galvanizing forces
in the business. But what Is essential
in big business Is fully as necessary
10 the small business man, thus every
mortgage. building and loan assocla-
ton, Endorsement on commercial paper.
personal suretyship and other obl-
gallons should be hedged with a life
insurance policy.
Soon after insurance was extended
to the main owner OF the business. Il
became apparent that the lives. which
represented a high managerial expert |
ence and technical knowledge, CON
siituted a vital asset TO the business.
Hence, life Insurance is used TO in
demnify the business against the loss |
Of such lives. In this way, life insur- /
ance serves the purpose OF enabling
the business to tide over a transition /
period during which equally valuable I
lives may be sought for the benefit OF |
the business. In more recent years the /
thought has gained wide currency. /
that life insurance may be very ad- |
used 10 protect all work
ers In plant. I. E., through the use
OF group Insurance. The speaker dis
cussed group insurance fully. outlining |
Its nature and explaining its manifold l
III
The SPEAKERS concluded by stating
that at the termination Of ones bust
ness career, life Insurance again steps |
in. In this connection the use Of life
Insurance as a means Of preserving /
the State against inheritance taxation |
was fully discussed. Moreover. the IL
were explained as a con
venlent device to guarantee the fruits
OF life toll for the great mass Of peo- Il
pie In moderate circumstances.
Mr.. Ely, in his Introductory re- II
marks, stated there is now in force in f