Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1934-02-22
LIFE INSURANCE SUBJECT OF
ROTARY TALK
(By r. M. Winegardner)

10y n. W. w lucSdl uitI
Mr.. Paul NJ. Smith. general agent
of the New England Mutual Life
Insurance company, of Columbus,
was the speaker at the Rotary club
meeting at Malta hotel, Friday ev-
ening. Mr. Smith took as his sub
ject, "Life Insurance. He was in
troduced by DR.. Donald Ralston,
member of the program committee.
Mr. Smith divided his subject
matter into what he termed -Four
Viewpoints This was the agent,
the company, the commodity and
the policy holder. 'The standard
of representatives in the life in
surance business, today, is better
than ever BEFORE" Smith stated.
This is probably due to the ur
gency of the life insurance COM
panies themselves, he said. There
are many opportunities being offer
ed for the study of life insurance
as a profession today. The certi-
fed life underwater degree for life
insurance representatives is being
offered by the leading universities
of our country today" said Smith.
The business itself is gradually
pushing out the incompetents and
leaving the trained representatives
to carry on. "In my opinion" said
Smith, "The investment department
Of a life insurance company is the
heart of the business The safety
of the investments of the life in
surance company is what makes
policy in the company good. Most
of these investments are in mort
cages or securities to mature over
a long period of time. All of these
securities held by life insurance
companies are subject to market
termined by the market value on
one certain day in the year which
is unknown to the companies, un-
til after it is past
'There are 100000, 900 in
vested in the assets of the life in
surance companies Of the United
States, at the present time" said
Smith. There was $3,000,000.-
900 paid out by life insurance COM
panies on insurance policies either
in the form of loans or claims, last
year There is 100000, O,000,-
900 of life insurance in force in the
United States today. There was
$4,000, 100000 of life insurance
written in the United States, dur
ing 1898. The life insurance busi-
ness is on a distinctive up grade to-
day"
Mr.. Smith reported a 40%o in
crease on new business written by
his agency during the first part of
pay their premiums on life insur-
ance when they are due. This en-
ables most of the companies to !
meet all business expenses out of
current income. Mr.. Smith further
stated that "no large life insurance
has found it necessary to
borrow any money from the Recon-
struction Finance Corporation"
Only abut Is small life insurance
have failed during the
business depression, over the past
four years. The annuity business
IS exceedingly good with the life
insurance companies, at the present
lime. Many of these annuities are
being written on the single prem
UNI basis.
Life insurance. said Mr.. Smith,
rs designed principally for. pro-
ection. We use it for income pro-
ection. 1t is to insure the contin-
lance Of a persons earning power
fter they are unable to earn for
themselves. The life insurance
ompanies guarantee $50 return
n the investments Of policy-hold-
RS, at the present time, and are
ctually paying from 4 to AZ %.
"The most important thing that
yer happened to popularize life in
urance' said Smith twas the war
isk insurance act Of the federal
Overnment when the American