Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-12-11
BIC GROWTH SEEN
IN LIFE INSURANCE
n
Year Shows Great Leap
Ahead in Thrift Record,
4 Company Heads Reveal.
By the Associated Press.

By the Associated Press.
NEW YORK, December 11.-Leap-
Ing far ahead of all former thrift
records the American people are
buying approximately SIS, 100000
Of life insurance this year, according
S& q report submitted at the opening
s4 the eighteenth annual convention
OF the Association of Life Insurance
Presidents here today. Walton L.
,Crocker, president OF the John Han
cock Mutual Life Insurance Co, of
Boston, who is the presiding officer
of the convention, added that TINS
years total of new paid-for insur-
ance will exceed that of 1928, the
former record year, by fully $1,000
600, 900, an increase of s per cent. Mr..
Crocker emphasized to the insurance
men that this thrift record had been
achieved by the people during year
in which the general business of the
country has been on the whole ad-
verse
The insurance executives in attend
ence at the convention come from
practically all States of the Union and
from several of the provinces of
Canada The official estimate is that
at least 80 per cent of the old line
life insurance in force in the United
States is represented at the conven-
ton, which will be in session two
days. Federal, State and provincial
officials are joining with the life IN
surance executives in the discussions,
which involve numerous aspects OF
public relations of the business 10
national problems. The financing by
life insurance investment funds or
agriculture, of housing and other
buildings in cities and the support OF
the country's transportation systems
are among the matters being consld-
cred, all under the general theme of
Sound Public Opinion, the Nation
Great Reserve" Attention is being
paid also to various public health
problems involved in the current
mortality of the country as reflected
in the death claims of the companies
for 1924
Now becoming Habit.
life insurance is becoming habit
with the American people" said Mr.
Crocker, in presenting the years re-
suits in new business to his fellow
executives. They are now annually
taking nearly four times as much OF
st as they We're doing 10 years ago.
The new life insurance already
written and to be written in 1924
that is definitely known for 10
months and closely estimated for the
remaining two will reach $4,000, 000,
900, or an increase of per cent over
the wonderful year preceding. This
will form the greatest record in life
insurance history. Whether it will.
in turn. be eXCelled must depend
upon several factors, but it is inter
esting to recall that since 1914 each
year but one G92D has shown a
material gain in new writings over
the previous year.
Each Class Shows Gain.
Analysis Of the years new insur-
ance shows the following divisions,
with each class showing gain: Ordi-
nary, $3.50, 100000: Industrial. 81.
500. 900, 600, and group, Sl,430, 600.
The ordinary will exceed last year
by $4,000, 900, or 6.6 per cent; in
dustrial by S275,000.0OO, or 10.5 per
cent, and group by S1T0,000,000, or
1914 per cent Life insurance is not
visiting the American people. 1t has
come to stay
when We say that the institution
OF legal reserve life insurance in
North America today is made up Of
S5,000,000 people, insured for total
of $4,000 600, 600. which is the value
these people have placed upon them
selves, in 200 companies, which hold
in trust for their policy holders as
sets in total more than $I0,000,OO0,-
600, and employing 250, 900 field
agents and administrative forces, we
simply describe the external stand
ing of the economic structure we
here repre- sent. The real meaning
OF these figures is that they measure
the response of the people of the
nation to the central idea in life in
suranCe and indicate in equal de-
gree the propulsive force. initiative,
industry and administrative skill re-
CURED in its presentation to them
and it's maintenance.
Nearly one-half Of the entire popu-
lation north Of the Rio Grande is re-
liably estimated TO be thus insured
through the Iega. reserve system. The
great interest thus created very natu-
rally becomes the object around which
a considerable mass Of public regard
must be Centereu.
with the gradual removal Of its en-
veloping mystery the institution OF life
Insurance is coming into the sunlight of
better understanding. For much Of this
VIC have to thank the agents Of life in