PROMPT PAYMENT. There is one argument which the Equitable agent possesses which, for its potency and directness in influencing a prospective to select his company, is equaled by none that can be put forward by the agents of any other company. The argument referred to is that of the prompt payment of death claims. The Equitable first saw the need of immediate payment of policies maturing by death, and was the pioneer in inaugurating the custom-which has since been imitated by most of the large companies with doubtful success-of putting into the hands of the widowed and orphaned beneficiaries the proceeds of the policy at a time when its value to them is the greatest. The agent does not have to assert this fact on his own authority, nor on the ground of a theoretical general theory. He has continually before him the absolute proofs of what he asserts, and thus has an increased advantage over his competitors. As far as is known, there is no company other than the Equitable which publishes at regular intervals the records of the payments of claims paid. At the end of each month, for many years, the Equitable has placed in the hands of its field force the statement of the number of claims and their amounts paid during the month just ended, together with the ratios of the number of claims. and amount of money paid to beneficiaries within one day after the receipt of proofs of death of the assured. There have also been issued at the end of each year reports of the prompt payment of claims which show the entire record of the Society in the matter alluded to. The reports are in the nature of competitive documents, and as such should bring in much business to the agent who knows how to use them. We have not as yet received sufficient data to compile statistics as to the claims paid throughout the world, but we append figures showing the promptness of all claims paid in the United States and Canada during 1900. The high ratios certainly make the record for the closing year of the century one of which the S may justly be proud. The number of day after receipt of proofs varied, in the respective months, from 92 per cent. to over 99 per cent. of the whole number paid during the month, and the corresponding ratios of the amounts of cash paid were from 89.4 per cent. to over 99.5 per cent. Out of 1,992 claims, aggregating in amount $9.572,258, but a trifle over 4 per cent. of the number of claims, and 5 per cent. of the total amount, were unpaid one day after the acceptance of proofs of death. As a life assurance policy is intended mainly as a protection against disaster to the family consequent on the death of the head, the Equitable has by its action almost perfectly fulfilled its purpose; for the fact that so large a proportion of its claims were paid immediately is prima facie evidence that much misery was averted from hundreds of homes, and thousands of beneficiaries. of assuring Mr. E., manager of the works there, you told me you had a talk with the owner of the works, and that he had about decided to take some assurance with you on your return there again, but that he considered the matter of too weighty a nature to jump into on the spur of the moment, so he wanted to think over it a little more. You mentioned at the time of having said to him that he might not be here when you returned to his town again, but he laughingly assured you that he would be here just the same. You will be no little surprised and naturally shocked to learn that he will not be there when you return. He had a fall Sunday, which at first was not considered serious, but that night matters took a turn for the worse, and he died during the night. This, of course, is only one of the very many similar cases that have come under our observation in the business, and yet people smile incredulously when we try to urge upon them the necessity of doing this now, and not at some other time. "You undoubtedly saw in the 'Times' the an nouncement of the death of Mr. L., whom we tried to assure a few years ago when he was reputed to be a millionaire. I am extremely sorry for his family, but it is generally current on the street this morning that his estate is absolutely worthless." Can there be two stronger object lessons on the folly of both delay and neglect in taking assurance? DR. WILLIAM SEDGWICK SAUNDERS. Dr. William Sedgwick Saunders, F. R. S., of London, who was the medical director of the Society for the British branch from 1874 to 1899, in which latter year he retired from that office, although continuing as a member of the London Board of Directors, died on the 18th inst., in the seventy-seventh year of his age. He had attended a meeting of the London directorate a few days prior to his death, which was caused by pneumonia. The executive committee of the Board of Directors of the Society, at its meeting on the 25th inst., passed the following resolutions: Whereas, The officers and directors of the Equitable Life Assurance Society of the United States have received with sorrow the information of the death of Dr. William Sedgwick Saunders, F. R. S., of London, and Whereas, Dr. Saunders, who served actively as medical director of the British branch of the Society from 1874 to 1899, when he retired from the active functions of his office, but continued as a member of the London Board of Directors of the Society, was held in the highest respect, esteem and friendship by the officers, the London managers, and all those who came in contact with him, served the Equitable well and faithfully, and the officers feel that in his passing away, they and the Society have lost a good friend and champion; therefore Resolved, That the executive committee place on record its sense of the deep loss sustained by the Equitable Society in the death of our late friend and colleague and extend its sincere sympathy to the family of the deceased. The following cable was sent to Messrs. Munkittrick & Triggs on the death of Queen Victoria: "Equitable flag floating at half-mast, mutely evidencing sincere sorrow at the death of the noble and well beloved Queen." So say we all of us. God rest the Queen. No, sir! I don't believe in life assurance. Neither does my wife. I can take better care of my money than any life assurance company. No! I ain't agoin' to die. My grandfather died of old age at 92, and my father would have lived to a hundred if he hadn't been gored by a bull. I don't care what Wanamaker and other men who have made lots of money do. If they are foolish enough to assure their lives, that's no reason why I shouldn't be sensible. I tell you, I'm agoin' to make a pile o' money in the next ten years, and then if I peg out the old woman and the gals can eat arty chokes and terrypins and mushrooms, if they wanter. No, I ain't laid up much, but I'm on the crest o' this here wave o' prosperity, and I'm goin' to be one o' your twentieth century millionaires, and don't you forgit it. An' don't you come round here with any o' your life assurance policies. I ain't got no use for 'em. [Dr. Lambert says that this man would be too thin, anyway.-ED.] JOURNALISTIC ACCURACY. The definiteness and accuracy of journalism was never better illustrated than by the following item from an exchange: "George Hollibird was granted a divorce last Friday. It was from his wife." The Kansas City Journal. A GOOD SUGGESTION. The following letter has been received from one of our managers, who is a recognized authority on the advertising question: "Straws show which way the wind blows" is an old maxim which is again verified in your illus trious monthly. [Ahem!-ED.] I send each issue of the NEWS and RECORD to the principal newspapers in this territory, and notice that quite a few items from our papers are published from time to time, and this thought occurs to me: Might it not be wise for each manager and general agent to mail copies of our papers to the various newspapers in their respective territories, and is it not probable that the Equitable would receive considerable notice from this which would be of advantage to us all?" This strikes us as being a very good suggestion, not only on account of the notice that the Society might receive, but also on account of the many good hints the editors would receive on how to make a good paper. Anyhow, how does the suggestion strike you? You can send one of the papers for a cent. THE WISE MAN. There was a wise man in our town Fell down the steps and broke his arm Assuring him from accident. The months flew by, the wise man kept He fell again and broke his back. It had expired the day before. -Ohio State Journal. CHEERY CHAFF. "Some men," he said, "are like wine. They grow better with age." "I have noticed," she replied, "that there is this difference between most men and wine: The man sets up the wine and the wine upsets the man." Philadelphia Press. In 1861, when the Society was in rather contracted quarters at 92 Broadway, the clerical staff consisted of one man and a boy. Thomas D. Jordan was the boy. He commenced his career with the Society on January 17, 1861, and, therefore, on January 17 of this year he completed his fortieth year of service with the Society. His first duties consisted principally in running errands and licking stamps, but, as the Society grew, Mr. Jordan was rapidly promoted. He rose from office boy to clerk, from clerk to cashier, from cashier to assistant secretary, and from assistant secretary to comptroller, which position he has held for some years. Mr. Jordan is a director of the Society, and is a member of the finance and executive committees, and the committee on accounts of the Society's board of directors. It may well be imagined, therefore, that the comptroller's time is fully occupied, but forty years of hustling has not lessened his ardor for work, and he looks and acts as if he can handle all of it that comes his way for many years to come. LOCATING THE VILLAIN. "You say the play was entirely without a villain?" "Yes-that is, if you choose to omit the author."-The Indianapolis Press. The following resolution was passed at a recent meeting of the Pittsburg Agency Lunch Club. It speaks for itself: "Since the founding of the Pittsburg agency of the Equitable Life Assurance Society, Dr. David Nevin Rankin has been associated with us as Chief Medical Examiner for the city of Allegheny. His unfailing courtesy, his thorough appreciation of the value of life assurance, loyalty to the Equitable, and sympathetic understanding of the difficult task of the agent, his high standing in the community and his widely recognized ability as a physician, peculiarly fitted him for this important position. There are but few of us who can not recall some instance of the helpful courtesy with which Dr. Rankin responded to all calls, no matter how unseemly the hour or trying the case. His presence at most of our social gatherings, where he was always a welcome and delightful companion, united us to him with bonds stronger than those of business. The members of the agency-examiners, agents and manager alike-feel the loss of a personal friend, and have caused to be spread on their minutes this expression of their sincere regard, and have requested the secretary to send a copy to his family tendering, on behalf of all, our most tender sympathy in their deep bereavement." Edward Agnew, Albert Pettit, M. D., (From the Boston Globe.) JOKED ON BRINK OF DEATH. PRINCETON, N. J., Jan. 21.-While attempting to cross Millstone Creek, near here, this afternoon, Walter B. broke through the ice and was drowned. Bayles, in company with three classmates, started for the Raritan Canal immediately after lunch for an afternoon's sport. After skating several hours they determined to take a short cut by skating across Millstone Creek. Bayles struck out ahead of the others, shouting jokingly, as he left the bank: "Have you fellows got your lives insured?" When he reached midstream the ice suddenly gave way, and before his companions could give assistance he had been swept under the ice. No, sir! I don't believe in life assurance. Neither does my wife. I can take better care of my money than any life assurance company. No! I ain't agoin' to die. My grandfather died of old age at 92, and my father would have lived to a hundred if he hadn't been gored by a bull. I don't care what Wanamaker and other men who have made lots of money do. If they are foolish enough to assure their lives, that's no reason why I shouldn't be sensible. I tell you, I'm agoin' to make a pile o' money in the next ten years, and then if I peg out the old woman and the gals can eat arty chokes and terrypins and mushrooms, if they wanter. No, I ain't laid up much, but I'm on the crest o' this here wave o' prosperity, and I'm goin' to be one o' your twentieth century millionaires, and don't you forgit it. An' don't you come round here with any o' your life assurance policies. I ain't got no use for 'em. [Dr. Lambert says that this man would be too thin, anyway.-ED.] JOURNALISTIC ACCURACY. The definiteness and accuracy of journalism was never better illustrated than by the following item from an exchange: "George Hollibird was granted a divorce last Friday. It was from his wife." The Kansas City Journal. A GOOD SUGGESTION. The following letter has been received from one of our managers, who is a recognized authority on the advertising question: "Straws show which way the wind blows" is an old maxim which is again verified in your illustrious monthly. [Ahem!-ED.] I send each issue of the NEWS and RECORD to the principal newspapers in this territory, and notice that quite a few items from our papers are published from time to time, and this thought occurs to me: Might it not be wise for each manager and general agent to mail copies of our papers to the various newspapers in their respective territories, and is it not probable that the Equitable would receive considerable notice from this which would be of advantage to us all?" This strikes us as being a very good suggestion, not only on account of the notice that the Society might receive, but also on account of the many good hints the editors would receive on how to make a good paper. Anyhow, how does the suggestion strike you? You can send one of the papers for a cent. THE WISE MAN. There was a wise man in our town Fell down the steps and broke his arm. Assuring him from accident. The months flew by, the wise man kept He fell again and broke his back. It had expired the day before. -Ohio State Journal. CHEERY CHAFF. "Some men," he said, "are like wine. They grow better with age." "I have noticed," she replied, "that there is this difference between most men and wine: The man sets up the wine and the wine upsets the man." Philadelphia Press. |