companies still retain a brief probationary period before the claim may be filed. The monthly payments are usually 1% of the face of the policy-a $5,000 policy yields $50 a month, or $600 a year, in contrast to $500 a year under the old annual payment plan.

A further development of the disability provision has been the introduction of the so-called ninety-day clause. A man may have what is usually a curable ailment, but his health may not have been restored at the end of ninety days. He is then regarded as totally and permanently disabled during the further continuance of his incapacity, and the monthly payment begins. If he gets well, the payments stop with his restoration. If, on the other hand, it turns out that he is permanently disabled, the payments continue for life. Though a part of the Total and Permanent Disability provision, the ninety-day clause supplies, in fact, temporary disability. Also it brings to the paying line at the end of ninety days a good many policyholders who, before the adoption of this clause, were obliged to wait long enough to demonstrate that their disability was permanent.

A variation, or a further development of the Total and Permanent Disability provision, is the payment by one or two companies of 2% a month of the face of the policy, and by one company of the payment of 1% a month for the first five years, 1-% for the next five years, and 2% thereafter. And doubtless still other variations, or a still further evolution, is yet to come.

The disability provision in policy contracts may fairly be denominated as lib. eral. But the practice of the companies is still more So. Under the wording of the provision in the policies of many of the companies, the payments are not due

vi

approved. Many policyholders do not know, or have forgotten, that their policies contain the provision. Others regard their ailments as not coming within the clause. Still others die after having been disabled for a period of months without having made claim. Under the wording of the contracts the companies could, in the first two cases, make payments, if they chose, only from the time of the acceptance of claim; and in the third class they need not make payments at all, the policyholder being dead. In practice, however, the companies, generally take no advantage of technicalities, and in such cases as these their payments are retroactive, going back to the time of the beginning of disability, at the same time refunding premiums which may have been paid after disability began; and if the death claim discloses total and permanent disability, the amount which would have been due in monthly payments had claim been made while the policyholder lived, is added to the amount of the death claim. Further, such ailments as tuberculosis, paralysis, and insanity are by at least some companies regarded as "permanent" at the time of their occurrence, and payments immediately begin. In other words, the companies endeavor to govern their handling of disability claims in the spirit of service to policyholders and of trusteeship of their interests.

now

The Double Indemnity clause as written by many companies has developed gradually but is not in such general use as the Disability clause.

The clause was first written by American life insurance companies, we believe, in 1906, since which time the coverage provided by the clause has been decidedly broadened and in some instances increased to Triple Indemnity.

In adjusting losses under the Double Indemnity clause the leading companies writing it have been most liberal and in doubtful cases have given the benefit of the doubt to the beneficiary.

HARTFORD, CONN.

Began business 1850; stock company; issues participating and non-participating policies.

Extracts Annual Statement

Year Ending December 31, 1921

Maximum amount limited only by the amount of life insurance issued on any life.

Cash Value and Surrender of
Surrender of Policy.

Six months after proof (no age limitation) that insured has become wholly, continuously and permanently disabled and will for life be unable to perform any work or conduct any business, or has met with irrecoverable loss of the entire sight of both eyes, or the total and permanent loss by removal or disease of the use of both hands or of both feet, or of such loss of one hand and one foot, then in lieu of all other values, benefits and privileges, without further payment of premium, will pay in full settlement one-twentieth of sum insured, and will pay the same amount annually thereafter until twenty such payments in all have been made; or will pay an annuity based upon age of insured (ten annuity payments certain) for as many years as insured shall live. Any indebtedness on account of policy will reduce the amount of either of said annual payments in the same proportion that said indebtedness bears to three-fourths of the sum insured.

The above disability benefits do not apply to paidup policies issued on default in payment of premium.

Disability (3)

Limit-$25,000.

For Use with Non-Participating

Policies.

Waiver of Premiums-Monthly Income if Disability occurs before Age 60.

re

This clause in general provides that upon ceipt at the Home Office of proof of total and permanent disability, premiums falling due thereafter will be waived. This benefit applies to disabili

ties occurring at any age.

Further, if total and permanent disability occurs before age sixty, then, upon receipt of proof at the Home Office of the Company, the insured will be entitled, during disability, to an income of ten dollars a month per one thousand dollars of insurance.

The clause is liberal and the benefits clearly defined. If total disability occurring before age sixty is clearly permanent from the outset, then the waiver of premium and annuity benefits commence at once. If it is not clear, however, as to whether such total disability will be permanent or not, it will be presumed to be permanent after it has lasted ninety consecutive days, and the insured will thereafter become entitled to the benefits of the clause during the continuance of the total disability.

Premiums waived or annuity payments made under this clause will not be deducted from any settlement under the policy, the policy, and the cash and loan values will continue to increase as if no disability claim had been allowed.

The insured may cancel the disability provision at any time and have the premium for his policy reduced correspondingly, but the provision may not be cancelled by the Company. Particular attention is drawn to the continuance of the liberal Aetna feature of waiving premiums without limitation as to age at which disability occurs.

Yearly Examinations Provided For.

In case of the maturity of an endowment policy after disability payments commence, a supplementary contract providing for the continuance of the required disability payments during the lifetime, etc. will be issued.

Disability (2-A)

Permanent total disability provision providing for waiver of premiums with full insurance payable at death or maturity issued in connection with partnership policies and only to the extent of $25,000.

Disability for Women.

Neither disability 1 or 3 will be included in policies issued on the lives of women for amounts in excess of $10,000, but in other respects disability benefits for women are subject to the same. conditions and limitations as are applicable to men.