Codification of Life Insurance Laws: Report of Hearing on the Commissioner's Report Before the Joint Committee on InsuranceWright & Potter printing Company, State printers, 1887 - 75 sider |
Vanlige uttrykk og setninger
actuary agent amount apply arbitrary argument average annual income basis bill cash surrender value clause Colonel Green committee Commonwealth of Massachusetts company's Connecticut contracts corporation creditors death desire dividends draft earn four effect Elizur Wright enforced England Mutual equity fact favor foreign companies FOSTER four per cent going government bonds Green hearing Homans Insurance Commissioner insurance company investment issued judgment law of Massachusetts legal reserve legislation Legislature liabilities lives market value Massachusetts companies matter mortality mutual life insurance non-forfeiture law object paid panies par value payable person policy holders POST OFFICE SQUARE premiums proposed provision proxies proxy vote question rate of interest real estate reference regard REMARKS represent rights of policy rule of valuation safe savings bank section 75 securities seems statute suggestion supposed surrender charge TARBOX three per cent tion to-day tontine vitality gain vote York
Populære avsnitt
Side 15 - ... nor shall any such company or agent pay or allow, or offer to pay or allow, as inducement to insurance, any rebate of premium payable on the policy, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement whatever not specified in the policy contract of insurance.
Side 14 - 08 ch.-SH;%O. '08 p.18.l. to the effect that " no life insurance company doing business in this state shall make or permit any distinction or discrimination in favor of individuals between insurants of the same class and equal expectation of life in the amount or payment of premiums...
Side 18 - ... business in Massachusetts shall report in its annual statement the amount of forfeitures and undivided surplus on lapsed or terminated policies which it holds for or which is to accrue to the benefit of any class of its policy-holders, whether or not dividends thereof have been declared or allotment made, and whether or not liable for obligations of the company until distribution thereof is made ; also the amount of surplus, not ordered to be distributed and not included in the annual statement...
Side 45 - Every such policy, after the payment of two full annual premiums thereon, shall have a surrender value which shall be its net value, less the surrender charge, and less any indebtedness to the company on account of the said policy, and its holder may, upon any subsequent anniversary of its issue, surrender the same and claim and recover from the company such surrender value in cash ; provided that from the surrender value of all endowment policies the company may deduct five per cent.
Side 45 - In case of default in the payment of any subsequent premium, then, without any further stipulation or act, such policy shall be binding upon the company for the amount of paid-up Insurance which the then net value of the policy, and all dividend additions thereon, computed by the rule of Section 11, less any Indebtedness to the company on account of said policy...
Side 34 - When a policy of insurance is effected by any person on his own life, or on another life in favor of some person other than himself, having an insurable interest therein, the lawful beneficiary thereof, other than himself or his legal representatives, shall be entitled to its proceeds against the creditors and representatives of the person effecting the same...
Side 2 - Commonwealth, the full amount of premiums written in their marine and inland navigation and transportation insurance policies shall be charged as liability. In valuing the assets which compose the legal reserve of a life insurance company, the real estate, the bonds and stocks shall be taken at such a value that the average annual income thereof shall be not less than four per cent. of the valuation ; and if any asset or investment is conditioned upon a rate of interest of less than four per cent....
Side 34 - That, subject to the statute of limitations, the amount of any premiums for said insurance paid in fraud of creditors, with interest thereon, shall inure to their benefit from the proceeds of the policy...
Side 41 - Members may vote by proxies dated and executed within three months and returned and recorded on the books of the company three days or more before the meeting at which they are to be used ; but no person shall...
Side 68 - К it should not be divided, but continue accumulating till those who were the first contributors to it, and for that reason probably are most largely interested, have dropped away by death, or by the lapse or surrender of policies, a wrong will be done which, though not so frightful as bankruptcy, may be as extensive in its transfer of property from the hands of its owners to those of strangers.