Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1955-07-20
BY-w. HORACE CARTER

Sou 70 org That policy
BY-w. HORACE CARTER
Insurance companies and stock grow while
the dollar continues its downward drop rate of two
year. What does that do policy? It
that the $4,000 policy you took in worth no
than $4,000 in 1860 Oh get the $40 Ooo all ,bt
but will buy only SO have in 1910
What has this done for companies II has led to
the constant increasing sales OF life insurance because buying
public can afford protection they in the past
type insurance that will as the
initiation spiral scars upward
industry has ALWAYS been ,ookrg
business constantly alert with flexible viewpoint willing
adjust its services in order to the changing
lopmens in the American of life
just such motive prompted by need for dollar protection
insurance plan and similar proposed plans This
eimmic provides ordinary life insurance while permitting the
insured to participate in segregated account
The first company to introduce this innovation
is the Coastal States Life Insurance Company Atlanta
Ga progressive organization the lead in filling
publicly available retirement they
.,, m nnSanios are aovd y, o, t h ci Investments
while this plan has all characteristics good
and while millions of dollars this has
been sold in months the State OF South Carolina has
hidden Palmetto laws according a
s Pleas decision by Judge J. Robcr, Martin does
inducemcnt to the taking of insurance
When bought insurance did buy because
would yield return and profit? Millions of policy
bought known life with this
today IS you purchase Whole Life
Policy, premiums oang s2359O 20 years and at that
time value S24700 Is this selling insurance
offering returns and profits an Involvement to the taxing
=, Coastal States Estates Builder policy
general policy provisions the that issued by all
companies II designed protection the policy
holder death stated amount of term
ua benefit stated amount of level premiums
includes the usual non-ioture privileges ana oil oe' P
life insurance contracts
But in addition insurance protection this policy
provides stipulated endowment that natures the econd
wear thereafter guaranteed amounts nat Is
na over and above protection insurance The
opocy advised of this and the policy itself clearly out
In the event policy pays its full face value just
as any policy would regardless OF when the o %
provides OF the 18th year the policy holder may
draw his terminal endowment If he so desires . 1900
this policy and not in the small print as YOU
might contract known as the Estate h"at -
cnr in mutual would be used to purchase equity
1renv or bank stocks that with
the company considered safe and profItaoG ,%
benefit or the terminal benefit and it has nothing 10
do with assets Of the company ISSUING inc Po'y' .
This investment different from similar invest
mcnt programs plans of mutual funds when are nc
,rc, in This case would be handled charge by the
insurance company giving small investor the benefit OF e%-
b,, Seem. ,I, that are investments for life insurance
companies allowable investments are governed oE |
becomes obvious 100 these have been eNc'po""y
Some viii argue TIA, this IA, injccs element
OF chance in the policy mind that 1t IN no way effects
in the fund itself OF chance is no greater tha
chance every HE insurance company aES .E
IFS own ra The makes mandatory Aat only oSe
securities which company itself legally buy may be pur-
chased with the policy holders investment account
TO the past this would double triple and
] and then double again in an 10 year period giving the
policy holder protection initiation that he docs not nave
with ordinary insurance plans 1t Is ocilfltS an G
lection for Furthermore he drop the investment
part of and still claim his Proportohae
share fund This share is available TO him at inc
close Of 9th. 18th or 18th years. .
Actually the restrictions placed by the insurance company
this fund far greater than inc
strictly investment companies n o
public in every State IN inc Clc''
But with progressive policy meeting with sensational
the State oil
South Carolina States Life TO cease and desst
form issuing policy the grounds that the SAID contract
of insurance was Of the Laws of South Carolina
This order was February 49, 1855 In subsequent Pc
upheld the actions OF the insurance
commissioner
prohibiting the sale of this policy stated
person being offered than contract OF IN
charged premium of $500 year tor SoOo
policy but he be refunded SlOO per year clearly
the his than the amount he is required
pay annual premium lie offered the opportunity
"estate builder account and
thereafter profits which may be made from invest
ment of this account"
paragraph of the order exactly in &C
PLAN The insured simply
he chooses Is there anything differ
making overpayment that the company Will
desires and in making payments 10
nuual companies refund annually put back in
the request? To the choice seems in the
realm of the policyholder's perogatve.
carIf