The Washington times., 1930-07-29
GAIN
NOTED BY
: EXPERT
Last Six Months Reveal Large
Growth in Number Of Poll
CIes issued
By FRANK P. LOOMS

By FRANK r. LOOMS
The insurance business is good.
The life insurance companies
for the first six months of this
year show a substantial gain. in
life insurance purchased over
the same period in 1929.
There is now over $104, ,O00,.
0O0, 900 of life insurance in force
in the United States, 10 per cent
of the world 5otsl, which is
greater than the total national
income Of the United States.
Millions Of Policies
Over 67,0O0,O00 American citi-
zens are now Carrying life insur-
ance policies. No country in the
world can show such foresight
and such protection.
During the past year, over
$4,000, 100000 has been paid by
the life insurance companies to
beneficiaries, of which amount
$3.50, ,000, 900 was paid to living
policyholderS.
Insurance has been constantly
improved, so that today it is
both the biggest thrift reservoir
and the most active business fac
tor in the country. 1t reaches
more people than any other bust
ness. The millions saved each
year by the insured go into gilt
edge investment fields, thereby
helping legitimate and safe buSi-
ness, and into real estate, assist
ing farmers and other owners Of
land and buildings to improve
the country in general. Indi-
yidual benefits have been as
great. Insurance funds are now
being built up to take care OF
people in their old age. or for
their dependents If they die.
Change Not Good
Business concerns constantly
urge people to trade the old auto
mobile. radio, house or whatever
other commodity it may be in ex-
change for the latest and newest
model. Investors likewise make it
a practice to change their security
holdings from time to time when
am opportunity for profit presents
itself; investment brokers rnaSe
it their duty to solicit changes
profitable to their clients. Gener-
ally speaking, it is considered
good business to discard the old
for the new if such can be af-
forded or a profit results thereby.
However, the idea of change is not
good business" in the case Of a
life insurance policy, for life in
Surance is not a commodity.
AS a polyicyholder, you must
realize that every responsible life
insurance company serves the
policyholder as, a protective
trustee, compounding its invest
ments continually for the benefit
of it's policyholderS.
After the original first premium
on a life insurance policy has
been paid in a life insurance
company, the acquisition cost
for securing this policy has also
been paid.
If change in form is de
sirable for some reason. your
original company can and will
make the change without the
loss you are bound to suffer II
you change to another company
A change in policy results in &C
quiSition costs being paid a
second time. The twiSter OF
abstractor, who seeks to secure
a change from the original
policy to one of some other com
pany, as a rule, does so for the
sole purpose of making a com
mission for himself.
Trick Changes
Sometimes an expert with fig
ureS can make q change look
very attractive but there is q
mathematical equiv alent for
every argument that can be ad
vanced. Therefore, if you con
template making any change in
your present form of life insur'
ance. consult your own company
first. The company that you are
now insured in will make any
change YOU desire without loss