The Chronicle; A Weekly Journal, Devoted to the Interests of Insurance, Manufacturers and Real Estate Volume 62

The Chronicle; A Weekly Journal, Devoted to the Interests of Insurance, Manufacturers and Real Estate Volume 62

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 edition. Excerpt: ... proportion than the impaired lives, his answer will quite probably be " No." You may thus obtain unimpeachable evidence that various companies have not suffered appreciably by the lapse of good risks in undue proportion. A life company which retains its popularity does not, in fact, usually suffer on the score of vitality by reason of discontinuances It may have many lapses in the first year of insurance, but the medical examination is in such cases so recent that the risks remaining during the second year are on the whole unusually good, and the like holds true until the fourth or fifth year. After the third year the lapses in a popular life company are not so numerous, and those which do occur may be traced to one of three causes. The first cause is a change of circumstances, by which the policyholder finds himself unable to meet his premium payments. It is believed that lapses of this class occur in greater proportion among those risks which have become deteriorated in health or in habits, so that the net effect of such lapses is probably favorable. The second cause is that the beneficiary may die or be otherwise provided for, so that the insurance is no longer needed. Lapses from this cause may be presumed to occur in fairly uniform ratio among risks of all grades, and therefore to have little or no effect upon the quality of the risks remaining. The third cause is a change of feeling on the part of the individual policyholder, notwithstanding that he still needs insurance and is able to pay for it. Although the company retains its general popularity, this individual is no longer satisfied. Whether the fault is his own or that of the agent who induced him to insure, or that of the agent of some other company who dislikes more

Product details

  • Paperback | 82 pages
  • 189 x 246 x 4mm | 163g
  • United States
  • English
  • black & white illustrations
  • 1236931602
  • 9781236931603