(2 of 2)
For example Mutual Life of New York announced that on new policies its guaranteed interest rate to beneficiaries would be reduced from 3% to 2½%, that dividends accumulating at interest will get 2½% instead of 3%, that premiums on endowment annuity policies will increase. Last week Northwestern Mutual warned: "All life insurance companies are making important changes in their contracts. . . . These changes may mean an increase in price ... of insurance of 10 to 20%."