The Insurance Year Book Volume 25

The Insurance Year Book Volume 25

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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. 1897 edition. Excerpt: ...minimum premium policyholders. On the plan under discussion, the annual premium ranges from $16 at age 20 to $47 at age 55 per $1000 insurance. There are several other systems of distribution, such as using the dividends in making the premiums cease at a certain age, and reducing the annual premiums. Under the former the insured is notified at each distribution that the premiums will cease at a certain age; the age growing younger in proportion to the increased dividends. It is not, however, very popular. The best exponent of the reduction in premium system, is a company which has never paid any commissions to either the agents or to the insured, and whose expenses are about four per cent of the premium income. Under that association's plan, the premiums at the end of seven years are usually cut in halt. F or every seven years the member remains with the company, the dividends reduce the premium about ten per cent additional. After the premiums are entirely wiped out, reversionary bonuses are added to the lace of the policy. It seems to me that insurance for its own sake cannot be readily sold in this country--not only must promises of cash dividends be made but to make the policy popular, large cash and other surrender values must be written on the face of the policy, In Britain people have been educated to take insurance with the promise of increasing the insurance by bonus additions. The surrenders and lapses are very much smaller in that country, and so little demand is there for cash and other surrender values, that no companies to my knowledge state them on the face of the policies. In fact, in most companies no mention is made of any surrender value, the rules of the company being merely stated in their prospectus. more

Product details

  • Paperback | 180 pages
  • 189 x 246 x 10mm | 331g
  • United States
  • English
  • black & white illustrations
  • 1236813820
  • 9781236813824