"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:
“It’s better that it should make you sick than that you don’t eat it at all.”
—Catalan proverb, quoted in Colman Andrews, Catalan Cuisine.
“As soon as I suspect a fine effect is being achieved by accident I lose interest. I am not interested ... in unskilled labor.... The scientific actor is an even worker. Any one may achieve on some rare occasion an outburst of genuine feeling, a gesture of imperishable beauty, a ringing accent of truth; but your scientific actor knows how he did it. He can repeat it again and again and again. He can be depended on.”
—Minnie Maddern Fiske (1865–1932)
“Unfortunately, we cannot rely solely on employers seeing that it is in their self-interest to change the workplace. Since the benefits of family-friendly policies are long-term, they may not be immediately visible or quantifiable; companies tend to look for success in the bottom line. On a deeper level, we are asking those in power to change the rules by which they themselves succeeded and with which they identify.”
—Anne C. Weisberg (20th century)