Militant Life Insurance And Other Addresses
Militant Life Insurance And Other Addresses
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The company is at liberty to make this amount as much or as little as it chooses. Hav- ing fixed upon an amount for this purpose, the State would seem to have a right to forbid any expenditure in excess of that. This would be simple and fair; it would appeal to the judgment of all men. But the present method of fixing the cost of procuring and caring for new business item by item is socialistic, is illogical, is cumber- some, is vexatious, is destructive of all agency efficiency, and is totally... without any justification whatever from any facts that ever existed in life insurance or that now exist. * 3. Limitation of contingency reserve.
As this topic has been discussed by the President of another company, I shall touch upon it only briefly. To show the profound wisdom of Mr. Gladstone's criticism as to the difficulty of legislating wisely when legislating quickly, we have only to cite the first recommendation of the Legislative Committee on the limitations of contin- gency reserves. That recommendation would have per- mitted the New- York Life Insurance Company to accu- mulate as a contingency fund only 2y 2 % of the net value of its then outstanding insurance, and within a few years would have reduced that contingency fund to 2% of the net values.
What to read after Militant Life Insurance And Other Addresses?
You can find similar books in the "Read Also" column, or choose other free books by Darwin Pearl Kingsley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The company is at liberty to make this amount as much or as little as it chooses. Hav- ing fixed upon an amount for this purpose, the State would seem to have a right to forbid any expenditure in excess of that. This would be simple and fair; it would appeal to the judgment of all men. But the present method of fixing the cost of procuring and caring for new business item by item is socialistic, is illogical, is cumber- some, is vexatious, is destructive of all agency efficiency, and is totally... without any justification whatever from any facts that ever existed in life insurance or that now exist. * 3. Limitation of contingency reserve.
As this topic has been discussed by the President of another company, I shall touch upon it only briefly. To show the profound wisdom of Mr. Gladstone's criticism as to the difficulty of legislating wisely when legislating quickly, we have only to cite the first recommendation of the Legislative Committee on the limitations of contin- gency reserves. That recommendation would have per- mitted the New- York Life Insurance Company to accu- mulate as a contingency fund only 2y 2 % of the net value of its then outstanding insurance, and within a few years would have reduced that contingency fund to 2% of the net values.
What to read after Militant Life Insurance And Other Addresses?
You can find similar books in the "Read Also" column, or choose other free books by Darwin Pearl Kingsley to read onlineMoreLess
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