This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1900 Excerpt: ...in cash from the company a surrender value
computed as aforesaid; but upon policies of prudential or
industrial insurance, on which the premiums are five cents per week
and upwards, but not exceeding fifty cents, the surrender value
shall in all cases be payable in cash. Sect, 165. The insurable
interest named in the preceding section shall be construed to have
terminated when the insured has no minor or dependent child; and
his wife, if he has one, and any living beneficiary or
beneficiaries named in the policy, shall join in the application
for surrender thereof. Sect. 166 The provisions of the seven
preceding sections shall not apply to foreign life insurance
companies. As there have been many contradictory statements made
with reference to a policy-holder's legal claim, under this law,
for cash surrender values, a communication was addressed to the
Hon. El1zur Wr1ght with reference to it, The communication and his
answer are as follows: "ch1cago, 111., Aug. 24, 1885. fioN. El1zuk
Wr1ght, Boston, Mass. Dear Sir.--Referring to the Non-Forfeiture
Law of Massachusetts, 1880, Public Statutes, Chap. 119 Sects.
161-166, inclu sive, of which you are the recognized author, will
you please state under what form of policy, if any; or, under what
conditions a policy-holder can not claim the cash surrender value
of a policy 1ssued under this law, after two or more full annual
premiums shall have been paid, in, cash, and no conditions of
non-forfeiture named in the policy having been violated Very truly,
Merv1n Tabor, State Actuary." "boston, Aug, 26, 1885. Merv1n Tabor,
Esq., Chicago, 111. Dear 8ir.--l was not the author of that
particular feature of the Massachusetts law about which you
inquire. Undoubtedly, whoever was the author, he meant to preven...
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