V explains 'Brandeis System' of insurance to Monopoly Committee. Washington, D.C., June 15. Judd Dewey, Deputy Commissioner of Savings Bank Life Insurance in Massachusetts, today reviewed the achievements of the life insurance system inaugurated by the late former Supreme Court Associate Justice Brandeis in his state. He showed that the 'Brandeis System,' while paying higher annual dividends, charges lower premiums, costs a great deal less to operate, made a higher rate in earnings on investments, and maintained a higher ratio of surplus to reserves than the other companies. Only one company in the state paid higher dividends over the last ten years, he said, and that company paid only 89 cents more for the entire period