COMPANY OF ALABAMA-Continued Any such pre plemental Agreement is attached. mium, due on or after the or after the anniversary of the policy subsequent to the insured attaining the rated age of sixty years or in the event of the disability benefits shall having been discontinued at the request of the Insured as aforesaid, prior to his attaining such age shall be reduced respectively by the amount charged for such benefits. (Note In the case of Endowment Policies, upon the surrender of the policy at the end of the endowment term after disability payments mence, the Company will issue a Supplementary Contract providing for the continuance of the required disability payments during payments during the lifetime, and during the disability, of the Insured.) Double Indemnity Benefit The Company Will Pay to the Beneficiary to whom the proceeds of the policy may be payable, instead of the original sums insured under the policy, double that amount, making Dollars, immediately upon receipt of due proof at the general offices of the Company in Atlanta, Georgia, that the death of the Insured occurred prior to his attaining the rated age of sixty years and during the continuance of the policy as a result directly (and independently of all other causes) of bodily injuries effected solely through external, violent and accidental causes, of which, except in case of drowning or of internal injuries where revealed by an autopsy, there is a visible contusion or wound on the exterior of the body, and that such death occurred within ninety days after sustaining such injuries. The Company shall have the right and opportunity to examine the body and make an autopsy, unless prohibited by law; Provided, however, that no double double indemnity benefit shall be payable if the death of the Insured resulted from self-destruction, whether sane or insane, or from any violation of law by the Insured, or from police duty, rioting, insurrection or war, or any act incident thereto, or from intentional injuries inflicted by any other person, or from physical or mental infirmity, or directly or indirectly from illness or disease of any kind. Limit Disability and Double Indemnity $10,000. Illustration Extra Annual Premiums per $1000 WACO, TEXAS Began business June 7, 1909; stock company; issues non-participating policies only. Extracts Annual Statement Year Ending December 31, 1921 Admitted assets.... Outstanding insurance... Dis. and D. I. premiums received. Dis. and D. I. reserve.. $1,080,874 9,199,526 3.507 85 7,819 This Company had not responded to our request for information regarding its disability and double indemnity clauses when this volume went to press. DALLAS, TEX. Began business April 26, 1909; stock company; issues non-participating policies only. Extracts Annual Statement Year Ending December 31, 1921 Admitted assets... Outstanding insurance. Dis. and D. I. premiums received.. Dis. and D. I. reserve. $6,249,105 66,291,828 23,307 2,203 49,730 Waiver of Premiums and Special Annuity Benefit in Case of Total and Permanent Disability If the insured, after payment of the premium for the first policy year, and before default in the payment of any subsequent year's premium, and prior to anniversary date of the policy nearest the insured's attained age of sixty years, shall furnish proof satisfactory to the Company at its Home Office that he has become wholly and permanently disabled so that he is and will be permanently, continuously and wholly prevented thereby from performing any work, or engaging in any occupation or business for compensation or profit. provided disability does not result directly or indirectly in whole or in part from injuries self inflicted, then the Company will: (First) Waive the Payment of all premiums becoming due under this policy during such disability; (Second) Pay, as an Annuity, six months after receipt of proof of such disability, to the insured, if then living, the sum of $10 per $1,000 per month, and a like amount each month thereafter during the continuance of said disability until the death of the insured. In the event that the principal policy of which this Supplemental Contract is a part is issued the Endowment Plan. the annuity shall be granted only on the occurrence of said disability during the Endowment period, and shall continue during the existence of such disability until the death of the insured. The insured shall not have the right to change the plan of insurance provided by the principal policy while he is disabled whether he makes claim under this supplementary contract or not. The amount of the principal policy payable as a Death Claim or as an Endowment shall not be reduced, nor shall the Loan and Surrender Values provided by the policy be affected in any way, by any premiums waived or payments made under this provision. If there be any indebtedness on the policy the interest thereon may be deducted from the annuity payments as they become due, Notwithstanding proof of disability has been accepted by the Company as satisfactory, the Company may at any time thereafter, and from time to time (but not oftener than once a year) require proof as to the continuance of such disability. If the insured fails to furnish such proof, or if it shall appear to the Company that the insured is able to perform any work or engage in any occupation or business for compensation or profit, no further premiums shall be waived or annuity payments made by the Company. Without prejudice to any other cause of disability the entire and irrecoverable loss of sight of both eyes, or the severance of both hands above. the wrists, or of both feet above the ankles, (or of one hand above the wrist and one foot above the ankle), will be considered as total and permanent disability within the meaning of this provision. Upon the request of the insured, the benefits stated herein may be cancelled on any anniversary date of said policy, by presentation of the policy to the Company for endorsement, in which event the payment of the extra premium charged for these benefits will no longer be required. The benefits stated herein are granted in consideration of the payment of an extra annual premium of Dollars included in the premium payable in accordance with the terms of this policy, during the premium paying period or to the anniversity date of the policy nearest the insured's attained age of 60 years. Non-payment of this extra annual premium shall void this Supplemental Contract. The foregoing provisions for waiver of premiums and payment of annuity shall be null and void if the insured shall be in the military naval service in time of war, and the additional premium therefor shall cease to be payable; nor shall they apply to any optional settlement provided by this policy or to any to any Paid-Up Paid-Up Endowment, or Paid-Up Term Insurance issued in pursuance of the Non-Forfeiture Benefits of this Policy or to introductory term insurance. Limit-Double Indemnity and Disability $20,000. Double Indemnity, but not disability granted to women. Life. DALLAS, TEX. Began business July 1, 1903; stock company; issues non-participating policies only. Extracts Annual Statement Year Ending December 31, 1921 Admitted assets.. Outstanding insurance. Dis. and D. I. premiums received.. Dis. and D. I. reserve... Disability Benefits $10,315,581 105,416,705 55,927 1,058 149,819 Any policy issued by the Company (except as noted hereafter) contains some form of disability benefit, and following you will find a brief outline of them: (a) Premium Waiver: This form provides for full waiver of subsequent premiums following total and permanent disability of the insured before attaining age 60. (b) Monthly Income Disability: Upon total and permanent disability the insured under this form becomes entitled to a monthly income of Ten Dollars ($10) per month for each One Thousand In adDollars ($1,000) face value of the policy. dition all future premiums are waived in accordance with Premium Waiver (a) clause and no deduction is made from the face of the policy at subsequent death either on account of monthly instalments paid to the insured or premiums waived during disability. The Disability Monthly Income commences on the first day of the sixth month after approval by the Company of disability proofs, and the income continues as long as the insured lives and the policy remains in force. General Conditions: The loan and non-forfeiture values will be the same for policies under which premiums are waived as under policies the premiums for which are paid in cash. Under any form of disability benefits claims must be made before attaining the age of 60, and after at least one full annual premium shall have been paid and before default in any subsequent premium. The insured must become disabled by injury or disease from performing any work for compensation or profit, or from following any gainful occupation. The disability must be total, not merely such as would prevent the insured from following his ordinary occupation, but such as will permanently, continuously and wholly prevent him from performing any work whatsoever. The disability must be permanent. Even though the insured may be bedfast and unable for the time. |