INSURANCE: Rates Up

The 200,000 life insurance salesmen ferreting about the U. S. last week were using something new in sales talk—"Buy now before the price goes up." Mutual Life of New York, Northwestern Mutual Life, New York Life and Connecticut Mutual had announced that they would soon make important changes in their contracts and every other important life insurance company was expected to follow suit. Immediate reason: Into effect on January 1 goes a New York law reducing from 6% to 5% the interest that life insurance companies may charge for policy loans.

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