Louis D. Brandeis: “The Greatest Life Insurance Wrong”

Glossary

• aggregate combined total
• distinct as a matter of accounting completely separate, in terms of financial records and reporting, so as to avoid any opportunity for misuse of funds
• dividends payments to shareholders, based on the company’s profits
• lapses insurance accounts that have been lost by the policyholders owing to failure to maintain payments
• life insurance rests upon substantial certainty the business of life insurance has a great deal to do with statistical predictions based on data compiled from experience
• Meech’s Table of Mortality a reference work of the time that provided statistics on life expectancy and other factors important to calculating insurance costs
• plant facility
• reserve money set aside by an insurance company, under law, so as to pay future claims from policyholders
• surrender values the refund value of a life insurance policy if the policyholder chose to cash it in before dying