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Shortly after Mr. Ecker took the helm of the Metropolitan Life Insurance Company, Leroy A. Lincoln, at the age of 49, was Vice President. He had joined the company in 1918, and in little more than a decade had shown his ability to work with a variety of complex administrative problems.

He had a full and accurate knowledge of the entire insurance business, previously served as consultant to the New York State Insurance Department. He took his duties not only a strong analytical thinking, but also a warm sympathy for the men in this area, and the enthusiasm for the social-service program of the organization. As of March 1936, Mr. Ecker as Chairman of the Board of Directors, Mr. Lincoln succeeded to the presidency, the continued policy of his predecessor in office.

Frederick H. Ecker became president of the company to a period which is then for many as a "Golden Era". "Everything was at a peak, and the Metropolitan shared in the general prosperity. Towards the end of this time many people seriously believed that a new order of life in America has arrived, and that prosperity, low-cost life insurance, it was forever.

A measure of this lively booth was the rise in prices of common stocks, mainly those involved in the exchange. Under such conditions look promising, it is not surprising that common stocks were seriously asked, as well as appropriate investments for life insurance companies and one or two companies that are not under the restrictions of the New York Law purchased large blocks of well-selected common stocks for their portfolios .

It was at this time, in September 1929 that President Ecker, in an address before the National Association of Life Underwriters in Washington, analyzed the proposal that life Krankenkassen in common stocks, and has a firm position against such "" investment "by the life insurance companies. There were some who questioned his position, but not long after Mr. Ecker address was published and placed on the market came in October 1929, the first of the stock market crashes. His verdict on the dangers of common stock investments for life insurance companies has been confirmed almost overnight.

The full scope of this disaster, little understood at the moment. It was not for the coming weeks and months that the country to understand that its entire economy had suffered a shock that is not overcome for years. As the first event in the stock market deepened into a national depression, the life insurance companies shared the difficulties of the time with other financial institutions.

A large number of people lost their savings on the exchange. Many banks closed their doors, Foreclosure rapidly, and employment began to fall heavily. As a result, many people borrowed on their policies, whether it is individual health insurance or life insurance to the money that they could find no other source. This situation has been through moratoria on loans and repurchase policies are enforced, a majority of the state restrictions that were not requested by the Metropolitan.

The company continued to make all payments where no restrictions exist, and any obligation, once the restrictions have been lifted. In the decade from 1930 to 1939, Metropolitan paid out more than $ 5000000000 or beneficiaries to life insurance. These payments saved from the ignominy of public relief agencies, thousands of people who own protection by the insurance plans in more prosperous years. Contemporary with the efforts of the Federal Government to strengthen support for the plight of the population, it is certainly easier to burden the public.

Sarah Martin is a freelance marketing writer specializing in the history of economics, finance, individual health insurance and life insurance. For more information about life insurance or for which no medical life insurance, please visit the http://www.equote.com.