[David O. McKay]
At the office at 7 a.m.'Busy with office affairs until 9 a.m., at which time I met with Brother Stephen L. Richards who has been appointed a member of a committee to study a plan for Priesthood insurance. I told Brother Richards that I would call Brother Virgil Smith of the Beneficial Life Insurance Company who I am sure, will be able to give some valuable advice regarding this matter. I later reached Brother Smith by telephone and asked him if he would meet with Brother Stephen L. Richards. I explained to him that for twenty or twenty-five years we have been trying to work out some plan for Priesthood insurance for the Quorums of the Church; that the Council of the First Presidency and the Twelve the other day approved of a committee's working a plan out, and approved of the committee's getting such help as will be necessary to get it on a sound basis. I told him, also, that Brother Stephen L. Richards had met with me this morning on it, and said that he would appreciate very much receiving his advice regarding it. Brother Smith said that he would be very happy to render whatever help he could, and that he would get in touch with Brother Stephen L. Richards immediately.
[David O. McKay Diary, as quoted in Minutes of the Apostles of The Church of Jesus Christ of Latter-day Saints, 1910-1951, Privately Published, Salt Lake City, Utah 2010]