Page:American Journal of Sociology Volume 15.djvu/508

 494

THE AMERICAN JOURNAL OF SOCIOLOGY

We had to get legislative permission for the issue of these policies owing to the fact that it was quite clear their issue would be a violation of the anti-discrimination law. We were enabled to get the law passed only in the states of Maine, New Jersey, and Minnesota. In Massachusetts its defeat was accomplished by the savings-bank people. They started their system ostensibly because industrial insurance was too high. When we offered cheaper insurance than they offer, they defeated our bill in the legislature by alleging that our insurance is so cheap that their system would be destroyed. In Illinois and Michigan the passage of the bill permitting

METROPOLITAN, INDUSTRIAL: WHOLE LIFE INSURANCE PAID UP

AT AGE 75

Amount of insurance granted for 5c. a week. These benefits are available only where policies are issued on 100 or more persons at one time, and the premiums are all paid to the company by their representative in one sum.

Age

Group Insurance

Age

Group Insurance

Age

Group Insurance

14

$169 163 157 151 146 141 137 133 129

125

121 118

"5 III

108 105

^0

$102

99 96

93 91 88

85 82 80 77 74 71 69 66 64 61

46

4,7

$59 56 54 52 49 47 45 43 41 38 36 34 32 31 29

IC

-21

16

32

33

■24.

48

17

40

18

CO

10

-ic

ei

20

26

e2

21

■27

KX

22

a8

CA

2X

■JO

ec

24

40

1:6

21:

41

en

26

42

';8 ..

27

A.%

CO

28

44

60

20

4.5.

the insurance was defeated by the efforts of the fraternal orders. These orders also assisted in procuring a veto of the bill from the governor of New York, although this bill was not passed in the form we proposed it but in a modified form proposed by the Equitable which raised questions in the governor's mind, as we understand it, as to the effect on the various sections of the present law restriction of expenses, etc

2. Prophylactic measures. — Professor Irving Fisher has met a thoughtful response in his proposal to insurance companies to reduce costs of policies by employing preventative measures. Not only is a high rate of mortality in a population a cause of increased cost of insurance, but sickness also reduces the num- ber of persons who can pay premiums and diminishes the amounts they can pay.