The people's voice. [volume] (Helena, Mont.) 1939-1969, 1940-07-31

the exploitation of the people by the
insurance companies of the country,
by H. L. Maury, prominent attorney
of Butte, Is presented In two in
stallments by The Voice. The final
installment appears below:)
BY H. L. MAURY
LIFE INSURANCE STATISTICS
FOR MONTANA FOR 80 YEARS
In 1898 Life Insurance Companies,
exclusive of fraternal benefit societies,
absorbed In premiums from Montana
folks sS,149,86S.44. They paid US
back in losses s3,065,241.77 The diff
ference is s5,0S4, 626.67 This sum is
far more than 1t ought to cost us to
run our state government. 1t is a
barren tax of about one dollar month
on every man, woman and child, In
diam. Negro, and White in the state.
For our blind ignorance and lack of
ability to cooperate we all pay two
bits week from the cradle to the
coffin for NOTHING, to a bunch of
racket owners and runners. repre-
scented by diamond decked lobby in
But again the long term figures are
the safest for clear view and general
average In the 80 years-1909-193S
Life Insurance companies received in
premiums from Montana people $176-
217,360.59 They repaid in losses for
the same period $52,764,7 1854. The
difference is s123 452,564.1S. These
sums saved by life insurance, invested
In u S. bonds from year to year
would have exceeded one hundred and
fifty million dollars. Harvard Univer-
sity is endowed most heavily of any
In the world. It's entire assets reach
no such figure.
Some years ago clergyman in
Butte, possibly tipped by some of the
insurance pressure group, preached a
well-advertised sermon that it was the
Christian duty of every man to carry
life insurance. He even compared 1t
to his usual admonitions to live the
life that would insure against fire
after death How opinions differ in
this good old state of ours! While
lynching is a crime | deeply hate, yet
IL the Vigilantes had hung the first
insurance peddler that tried to enter
the territory, and scared all subse-
Quent ones away, in 81 years since
statehood came, the people as whole
would have saved by not paying any
life insurance premiums, above 200
million dollars. If they had never
bought policy of any kind they
would have saved more than the pres
ent total assessed value of all property
in the state.
Private Companies Underwriting
Workmen's Compensation Insurance
In one year, 1915, the premiums paid
under Plan Two were $145,549 and
losses paid were S9,57357--a glance
reveals profit of 1902 ION no in
vestment at all.)
In 1888 the private insurance COM
panies underwriting Workmen's Com
pensation collected in premiums In
Montana 2S1,077.09. They paid in
losses S158,25915. The difference is
$123,817.S4 that would have gone to
injured workmen, families of workmen
killed or into the state compensation
fund IL Plan Two had never existed.
Plan Two should, of course. be abol-
ished by law. In 25 years the gross
of premiums paid is 1854, 973.29. The
total of losses paid is $3,087, O53.43.
The difference is $2,467,919.S6 that
should have gone to the helpless or
into the state fund.
Automobile Liability Insurance
These. are the boys that raise the
big yell of how severe juries are with
them. If any crowd of adjusters do
canYass our jury panels in advance or
use corrupt practices during trials
tparticularly to bias weak-minded So
cial=climbing women jurors) the Liza
biIity Racketeers are the first that
should be watched.
Just to prove how badly they are
treated by judges and juries in Mon
tana: In 1888 they collected here in
premiums s1,124,939.02, they paid in
losses s477 ,O24.54-a profit of above
1900 on no investment at all. In 1887
their percentage of profit was higher
than in 1888. In 1919 their premiums
were S142, 602.55, their losses $32,697.2S
profit was above 400%. There is no
reserve, and no investment in Mon
tana in this business, SO long range
figures prove very little. In no year
of 20 years have they ever sustained
loss above premiums received.
II the state entered this business,
and forced every car owner to insure,
the premiums on the 5,000-10,000 pol
icy which costs from $40 to 500 an
nually could be reduced to $500 and
the state would make money - and
every loss be compensated up to $4,000
maximum instead of now-as much
damage is done by insolvents as by
drivers who can be made to respond
In damages for the damage caused by
their negligence.
How do they manage to continue
this racket?
Partly, of course, because of the
easy going ways of Montana people,
mostly through propaganda. For in
stance, they publish how much taxes
they, pay This is joke. In 1888 the
INSURANCE companies paid, in admis-
sion fees, filing annual statements, IL
censes, direct tax on premiums, agents
licenses, fraternal society licenses,
process fees, every way in fact-only
$359,363.00.
The legal profession is mostly un-
productive But there are only about