"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:
“I have need of night people.
I have need to see the bum dozing
off on scag, the women in labor
pushing forth a pink head,
lord I need to fly I am sick of
rocks and sea water....”
—Anne Sexton (1928–1974)
“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)
“We urgently need a debate about the best ways of supporting families in modern America, without blinders that prevent us from seeing the full extent of dependence and interdependence in American life. As long as we pretend that only poor or abnormal families need outside assistance, we will shortchange poor families, overcompensate rich ones, and fail to come up with effective policies for helping families in the middle.”
—Stephanie Coontz (20th century)