industrial policies limit pow-
tion and management of,
279-280
industrial policies, limit pow-
ers of, 282
law pertaining to, 416-424
liability of, to principal for
injury occasioned by mis-
conduct, 424
misrepresentations by, with
reference to disability in-
surance, 289–290
necessity for, 429-430
oral waiver by, effectiveness of,
422-423
organization and management
by, 332-340
policy provisions pertaining to,
in industrial policies, 421-
in ordinary life policies, 421-
423
powers of, 423-424
professional view to be taken
by, 427-437
state statutes in relation to:
appointment and licensing,
419-420
definition of term 66
prohibition of misconduct,
420
Aggregate mortality tables, 136
American Experience table. See
Mortality tables.
Annual level premium, definition
of, 48
Annuities, classification of, 58-59
cost of, illustrated, 113
deferred, 59, 114-115
definition of, 24, 58, 111
guaranteeing a minimum num-
ber of payments, 114
immediate, and their advan-
tages, 112-114
last-survivor, 115
manner of paying for, 48
net single premium computa-
tions in, 164-173
purpose of, 23-25
whole-life and term, 58
Annuity contract,
copy of, 462
Annuity payments, disability
clause providing for, 301
Anderson, Stewart, citations
from, relative to, use of
life insurance as a means
of protecting credit, 34
volume of business life insur-
ance, 29
Application, age of applicant as
stated in, statements re-
lating to, 374-375
definition of, 372
legal interpretation of, general
rules underlying, 369-372
part of contract, 372-373
specimen copy of, 449
statements in, as to family re-
lationships and family his-
tory, 374
as to health, habits and medi-
cal attendance, 373-374
relating to other insurance
and rejected applications,
375
Assessment associations, assess-
ment plans used by, 272-
274
business, 271-272
reorganizations of, 271
Assessment plans, flat, 266–267
fraternal insurance in, 266–268
graded, 267-268
See also Assessment associa-
tions
Assignee, insurable interest of,
Assignments of policies, by as-
signee, 414-415
by beneficiary, 413-414
law pertaining to, 409-415
policy restrictions relating to,
and interpretation of, 410-
413
reasons justifying, 410
Beneficiary, assignments by, regu-
lated by state statutes,
413-414
cessation of interest of, effect
of, 407-408
claims of creditors in relation
to, 397-404
clauses relating to, 397-398
designation of, 406-407
industrial policy requirement
relating to, 282-283, 402
law pertaining to, 394-408
methods of revoking, 397-398
reserving right to change, 397-
402
Child endowment policies, 52, 88
Collateral loan investments, 352
Commissioners of insurance,
duties and powers of, 357-
358, 360
Commissions, methods of pay-
ing, to agents, 334-335
Committees. See Home office or-
ganization
Companies. See Stock com-
panies, Mutual companies
and Mixed companies;
also Home office organiza-
tion and Agency organiza-
tion
Conservation of health and life
promoted by life insurance,
27-28
Contingent or survivorship insur-
ance, 57
Contingent interests made mar-
ketable through life insur-
ance, 45-46
Continuous-installment policies, | Disability insurance, age and time
advantages of, 54, 102-103,
103-106
nature of, 102-103
premiums compared of, with
those on a whole-life pol-
icy, 104-106
Contribution plan of apportion-
ing surplus, 249-250
Conversion privilege, advantages
of, in term policies, 70
Corporation bond investment, 26,
345, 348-349
Craig, James M., citation from,
relative to stock com-
panies, 317
Credit, life insurance as a means
of strengthening, 36, 38-
39
Creditors, insurable interest of, in
life of debtor, 386-388
rights of, to life-insurance pol-
icies, 402-404
Dawson, Miles M., citations from,
relative to, assessment as-
sociations, 273-274
çontribution plan, 249
endowment policies as invest-
ments, 90-91
law of average in life insur-
ance, 6
necessity of accumulating in-
surance funds, 7
saving from mortality, 247
Debenture bonds, 55
Deferred annuities, advantages of,
168-169
definition of, 114-115
net annual level premium com-
putation in, 183-185
net single premium computa-
tions in, 168-173
return premium feature applied
to, 59, 173
Deferred dividend plan, 253-258
Deferred dividend policies, 250
Dexter, George T., citations from,
relative to, mutual com-
panies, 318
stock companies, 317
Direct-agency system, 335
limits to the application
of, 297-299
benefits granted in, 299-301
causes of disability in, 295-
297
definition of disability in, 290,
294-297
development of, in Europe,
284
in the United States, 286
disability statistics in, 290
dividend payment in, after dis-
ability, 301-302
nature of protection in, 58
nature of risk in, 287-288
objections urged against, 288-
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