FAKMERS' MUTUAL INSURANCE COMPANIES' UNION. 34T 



Mr. Jones: I am certain the law would hold that way. 



Mr. Collier: The courts have decided that insurance comes down in 

 succession in case of death, the same as any other property. 



THE POLICY RECORD BOOK. 



L. E. COLLIER. 



As you well know, Mr. President, I have repeatedly suggested in these 

 State meetings the advisability of a uniform policy and application. 

 That would make a uniform record book. I can only speak on the subject 

 assigned me by using the plan of policy and application I use. This plan 

 may not apply to 3'our companies at all. Still I believe a policy ought to 

 conform so it might apply. There would not be much advantage to any 

 one in using this unless we all used the same form and saved money on 

 our printing bills. My book cost me ?22.75. If we had a quantity made 

 at one time the cost of each book would be very small. 



(Mr. Collier then exhibited his book and described his method of 

 keeping the records in detail.) 



Now I wish to speak a word about short term insurance. We carry 

 two columns of the short term business. It is easy to do it equitably, 

 justly and easily, getting not one cent from any man he should not pay, 

 and having every man pay exactly what he should pay. When the assess- 

 ment is made all we have to do is to refer to the column fixed for the 

 special policy. Suppose a man takes $500 on the first of August on wheat 

 in the barn, but before you make the next assessment the wheat is sold 

 and the policy canceled. That does not save him from paying the assess- 

 ment; we have the record here and the assessment is paid. The assess- 

 ment will be for the life of the special policy. 



Mr. Forbes: Suppose, for the sake of argument, we say you issue a 

 special policy on the first of June and on the first of September it is can- 

 celed. You have had no losses while it was in force. Do you make any 

 assessment at all on that policy in that case? 



Mr. Collier: No, sir. We have not made any assessment on any 

 other policy during that time, and wliy make one on that? 



Mr. Forbes: There is where I think you make a little mistake. Can 

 you afford to burden your books with this insurance, and your secretary 

 and directors with the work and not charge more than the fifty cents for 

 making the enrollment? The company is to some expense for printing and 

 other things all through the months the policy is in force, and I think the 

 special policy should pay a share of that expense. 



