"Sick and Accident" Policies
In the early years, the company's business consisted primarily of low-premium, low-benefit "sick and accident" policies, a form of disability insurance that paid the owner a stated amount for every week he was unable to work due to illness or injury. To prevent fraud, it was necessary for the amount of the benefit to be somewhat less than what the insured earned through regular employment. The vast majority of these policies, especially in the early years, were sold on the "debit system" (also called "home service insurance"), meaning that an insurance agent employed by the company, usually the one responsible for selling the policy initially, made periodic visits to the clients home to collect the premium (and, generally, to sell or attempt to sell more insurance). The frequency of these visits varied but was usually (especially in the early years) weekly; in later years, more of the collection visits were on a biweekly or monthly basis.
Read more about this topic: National Life And Accident Insurance Company
Famous quotes containing the words sick, accident and/or policies:
“The sick do not ask if the hand that smoothes their pillow is pure, nor the dying care if the lips that touch their brow have known the kiss of sin.”
—Oscar Wilde (1854–1900)
“A sudden light transfigures a trivial thing, a weather-vane, a wind-mill, a winnowing flail, the dust in the barn door; a moment,—and the thing has vanished, because it was pure effect; but it leaves a relish behind it, a longing that the accident may happen again.”
—Walter Pater (1839–1894)
“... [Washington] is always an entertaining spectacle. Look at it now. The present President has the name of Roosevelt, marked facial resemblance to Wilson, and no perceptible aversion, to say the least, to many of the policies of Bryan. The New Deal, which at times seems more like a pack of cards thrown helter skelter, some face up, some face down, and then snatched in a free-for-all by the players, than it does like a regular deal, is going on before our interested, if puzzled eyes.”
—Alice Roosevelt Longworth (1884–1980)