"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:
“We try to go back. You know I’ll probably die just a few miles from where I drew my first breath. That would have seemed like a horrible prospect to me, back when I was young and ambitious and gonna set the world on fire. But there’s comfort in knowing you’re gonna go full circle, end up where you started out. I’ve said before that I want to live my last days where folks know when you’re sick and care when you die.”
—Lyndon Baines Johnson (1908–1973)
“What instances must pass before them of ardent, disinterested, self-denying attachment, of heroism, fortitude, patience, resignation—of all the conflicts and the sacrifices that enno ble us most. A sick room may often furnish the worth of volumes.”
—Jane Austen (1775–1817)
“It’s 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)
“Give a scientist a problem and he will probably provide a solution; historians and sociologists, by contrast, can offer only opinions. Ask a dozen chemists the composition of an organic compound such as methane, and within a short time all twelve will have come up with the same solution of CH4. Ask, however, a dozen economists or sociologists to provide policies to reduce unemployment or the level of crime and twelve widely differing opinions are likely to be offered.”
—Derek Gjertsen, British scientist, author. Science and Philosophy: Past and Present, ch. 3, Penguin (1989)