[Documents Relating to Occidental Life Insurance Company's Assumption of Perry Sayles' Life Insurance Policy] Page: 1 of 23
This text is part of the collection entitled: Sayles and Sayles Collection and was provided to The Portal to Texas History by the Hardin-Simmons University Library.
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0Cctiienta tt Ifr Jntsnuanrr & upanJ
(OF CALIFORNIA)
HOME OFFICE: 756 SOUTH SPRING STREETAUTHORIZED TO
TRANSACT BUSINESS
IN:
ALASKA
ARKANSAS
ARIZONA
BRITISH COLUMBIA
CALIFORNIA
CHINA TREATY PORTS
COLORADO
HAWAIIIDAHO
INDIANA
IOWA
;KANSAS'OUISIANA
MANITOBA
MINNESOTA
MISSOURI
MONTANA
NEBRASKA
NEW MEXICO
NEVADA
NO. DAKOTA
OKLAHOMA
ONTARIO
OREGON
QUEBEC
SO. DAKOTALOS ANGELES
August 22, 1936
TO EACH POLICYHOLDER INSURED UNDER POLICIES ISSUED
OR ASSUMED BY UNION MUTUAL LIFE COMPANY:
The enclosed Certificate of Assumption, containing a com-
plete copy of the Reinsurance Agreement between the Hon. Ray Murphy,
Receiver of Union Mutual Life Company of Des Moines and Occidental Life
Insurance Company (of California), is being sent to you at the earliest
possible date in order that you may be informed fully as to the manner
in which we have assumed liability under your policy.
It is a pleasure for us to announce that we have assumed the
liability under each Union Mutual policy and that we have guaranteed to
carry out the terms of each policy in accordance with the provisions of
the Reinsurance Agreement. We believe our assumption of liability will
set at rest any fears you may have had as to the worth of the protection
cor I in your policy.
The Reinsurance Agreement contains a provision for a reduction
of premium on your policy. It is also provided that payment in full
shall be made on all valid death claims and other benefits contained in
your policy.
Occidental Life, organized in 1906, has operated for thirty
years throughout the western states and, on numerous occasions, has
entered into agreements assuming and guaranteeing the liability under
policies of other companies. We take pride in the knowledge that all
such agreements have been carried out strictly and fully and to the ad-
vantage and satisfaction of policyholders and their beneficiaries.
Please bear in mind that claims will be paid promptly as they
occur; that a fully equipped branch office of Occidental has been estab-
lished in Des Moines, Iowa, so that the policyholders of Union Mutual may
receive prompt and careful consideration. Please also bear in mind that
there is no lien against your policy.
Additional information will be sent to you from time to time,
and your next premium notice will inform you of the reduced premium on
your policy. All Union Mutual policies are now on a non-participating
basis, in accordance with the provisions of the Agreement.
We ask that you cooperate with us in preserving and continuing
the protection you now have in your Union Mutual policy, thus carrying
out your program which began when your policy was issued originally,TEXAS
UTAH
WASHINGTONYours very truly,
L. M. Giannini
President.
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Giannini, L. M.; Murphy, Ray & Giles, Robin J. [Documents Relating to Occidental Life Insurance Company's Assumption of Perry Sayles' Life Insurance Policy], text, August 22, 1936; (https://texashistory.unt.edu/ark:/67531/metapth1156703/m1/1/?q=%22~1~1~1%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Hardin-Simmons University Library.