Show INSURING PUBLIC ASKS QUESTIONS Authority on Which Commissioner Commis Commis- Acts in ill Excluding Companies LIGHT ON TWISTING I Local Association of Life Underwriters Un Underwriters Underwriters Un- Un Answers Queries Received I Io o c 4 11 n f ft ff t I f All lIu Mions lions relating to life f 1 insurance will be ie promptly ans an- an 4 s f- f b by time the Bureau of or 4 the llio Utah Association of ot Life LIu- f 4 Underwriters Address P. P O. O 0 f 4 ft t- t box I 1 Salt Suit Lal Lake 4 r t 4 f 4 Ot OI t t 4 t f t t Q O I The rhe following letter front from Fairview has been received by th the the- local lucal association association asso asso- elation of life un underwriters A little over three years yem'S ago aso I took out a a. policy with tim the company ant and have o mado made four payments It Is represented to mo me b by an agent of or another company that as his company Is new the tho deaths death rate willbe will willbe be e lower an and that the time company's In Investments Investments investments In- In vestments will be In III Western securities ties pa paying a n. high rate of Interest and lI It tl will pay mo to lo take the cash of or my policy with tho tIme It lit st com company pany and buy uy a policy In his com coin pany panr ia ny I 1 would like like- some seine a advice aice ice about this In Iii r replying the lie association says rays This seems to be e a n. pure case COO of what Is Js called twisting a a. practice which Is la condemned by all reputable 11 Life to Insurance companies and anti avoided positively 1 by nil all conscientious broa broadminded broad broad- 1 minded solicitors All 11 Alike Hun Hundreds re s of years yeal's of the time most Careful observation atlon have havo proved that thal death is subject to a law the tho operation opera- opera lion Ion of or which is as regular as that of or gravitation when the time law Is applied to o a multitude o of people Many lan years cars II of f time thy practical application of this I law aw by y men of or matchless skill anti and 1 proven oven ly nn and economy under the he tension of or competition has imas proved ell that lint the cost alten attending tho tito insurance Lif If the lie cash of a human life can canUl canIC be Ul IC nn and Is exactly figured that the time ant and time the cobbler are arc of the same ame rank anic In lit tho the insurance world worl an and can cane be e insured at the thc same mo rate an and that the thc difference In iii results obtained or orto orto to 0 be obtained for fOl members of different tilt dif ferent erent reputable companies is so very cry small mail that to ma make e a change from front one good rood company compan to another un under cr an any circumstances Is to compel a loss to ho tho member changing InS without creating creat creat- InS ing a gain for anybody except the time transfer agent who Is urging time the Manti A Ailts About Noes From Mantl Manti front from comes comos a u qu query 1 ono mile who has apparently been een caught by t 3 y a a. twister l Dear Sirs Sirs About About six sl months mouths ago in Ull agent of uC an au company compan su sold old me mc a policy for taking my tote lote for 25 in settlement A Aide Aside sl side ide e contract Issued with ith tho the policy makes me use a member of uC an advisory committee an and binds tho time company lopa to lo tomay pa pay may me my portion of a fund fun to be provided vided 1 1 by taking 23 cents from the premium of or every member in the United States for fOl a term term of years ears The lie estimates of results promise me mc immunity from lom payment in eight I years ears and ant a substantial profit from then hen to the time end of 20 years I notice hat thal such contracts are aro now declared illegal In that case cas m my note was gl cn iven without legal consideration It ItIs ItIs ItS Is S now due ue Should I resist payment The reply r to tu this letter JeUel follows If it you ou refused to accept tho hue policy upon Its delivery ell upon tho time grounds jf or Its Us illegality and If the thc note nole is islow isnow now low hel lucid held an and presented for fOl payment pa-ment by y my time the company then payment of note mote may mt bo ho successfully resisted but mut ul if the time note has lias passed into Inlo time the hands of or an aum Innocent purchaser pay vai- payment a ment ma may be tic compelled Utah Insurance Ju Laws Luuy Regarding time the state stale insurance laws I tho ho following query has been received Permit me mo to thank you 1 0 for tho time reply ephy to tu my query In Sundays Sunday's Salt SaltI I ake Lake papery papers If you ou will vIii state slate for form formy m my hr and amid likewise tho the or uC lh the tue insuring public lulIe what authority our tul Insurance commissioner has for foi this his commendable action In Iii excluding advisory ml board oard companies from our stat state It will be very l much allIe clate An Answer er In iii the time absence of any specific c statute coveting discrimination In fa favor fa- fa a- a I vor or o of one set of policyholders ers as I Ia a against another set we c ma may say ay that our ur commissioner Is basing hl his action on Mi the thc grounds of deception an and has line exercised tho the authority conferred upon him mim in section chapter 5 Incur nce Corporations laws Jaws of oC 1903 We Ye may mar sa say that our commissioner Is hs upheld In his run ruling by th the commissioners commis commis- of insurance In nearl nearly e cr every state In the Union there thoro being less than ihan a half dozen half half-do en states where this nefarious practice ma may 1 be e carried on In rum excluding these companies our commissioner Is doing a public servIce servIce service ice and should receive the tho support of ot all ill loyal Joyal policy holders lS l'S for rut National Com COlt Chairman Joseph Juseph V. V Smith of time the committee on badges wll have havo an In Interesting In- In erecting report to tu make at the next meeting of tho timo Life Underwriters association as as- which will wilt likely result In InI Inthe inthe I the selection of an appropriate mcm- mcm badge badAc In time for 01 em use uso August I 16 16 when tho time national convention delI delegates del del- I gates will be bo he here In l a body |