Author: New York Life Insurance Company
Publisher: Forgotten Books
Published: 2016-12-21
Total Pages: 38
ISBN-13: 9781334677502
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Excerpt from Practical Suggestions to the Medical Examiners of the New-York Life Ins. Co It has heretofore been the custom among the Ameri can Life Companies, to refuse insurance to all persons presenting any marked impairment either of physical condition or family history. From 10% to 15 of all applicants for insurance have thus been denied its benefits. For several years this Company has been perfecting a plan for insuring these sub-standard lives, and during the last three years has been gradually extending the practical application of this plan, until now it undertakes to grant to every reasonably healthy life a form of policy so adjusted as to treat the appli cant fairly, and at the same time with perfect safety to the policy-holders of the Company. In taking this step the Company has in no way departed from its former conservative attitude in the selection of risks; for in order that an applicant may obtain one of our standard policies, he must still possess the same degree of physical excellence 'as was formerly required. The Company separates its standard from its sub-standard business with the same care that it formerly exercised when it refused insurance to the latter class, and has made this radical change with a View simply to extending the benefits of insurance, not only to normal lives, but also to that large number of sub-standard lives which heretofore have been denied insurance. From this it will be seen that the Company no longer expects a Medical Examiner to recommend the acceptance or rejection of a risk. Aided by his special training in the practice of his profession, the Examiner collects and records the facts upon which is based the valuation of the risk for insurance. He is relieved of the embarrassment of rejecting a sub-standard risk, but is responsible for the accuracy and completeness with which the records of the personal history and physical condition are laid before the Company. The Company assumes the responsibility of treating the risk justly, while the Examiner must assume the responsibility of. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
