"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 and, sick, accident and/or policies:
“To long for that which comes not. To lie a-bed and sleep not. To serve well and please not. To have a horse that goes not. To have a man obeys not. To lie in jail and hope not. To be sick and recover not. To lose one’s way and know not. To wait at door and enter not, and to have a friend we trust not: are ten such spites as hell hath not.”
—John Florio (c. 1553–1625)
“Come let us mock at the good
That fancied goodness might be gay,
And sick of solitude
Might proclaim a holiday:
Wind shrieked and where are they?”
—William Butler Yeats (1865–1939)
“Predictions of the future are never anything but projections of present automatic processes and procedures, that is, of occurrences that are likely to come to pass if men do not act and if nothing unexpected happens; every action, for better or worse, and every accident necessarily destroys the whole pattern in whose frame the prediction moves and where it finds its evidence.”
—Hannah Arendt (1906–1975)
“To deny the need for comprehensive child care policies is to deny a reality—that there’s been a revolution in American life. Grandma doesn’t live next door anymore, Mom doesn’t work just because she’d like a few bucks for the sugar bowl.”
—Editorial, The New York Times (September 6, 1983)