"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 (18541900)
“Its no accident that of all the monuments left of the Greco- Roman culture the biggest is the ballpark, the Colosseum, the Yankee Stadium of ancient times.”
—Walter Wellesley (Red)
“To deny the need for comprehensive child care policies is to deny a realitythat theres been a revolution in American life. Grandma doesnt live next door anymore, Mom doesnt work just because shed like a few bucks for the sugar bowl.”
—Editorial, The New York Times (September 6, 1983)