The west shore., June 01, 1885, Page 184, Image 22

184
THE WEST SHORE.
"CHEAP" LIFE INSURANCE.
rPHE "game of life," as to pecuniary results, is a very
1 uncertain one, and to make sure of soma provision
for (lH!!hlmiU lifo insurance was devised. But it re
quired nenrly a century of trinl to so demonstrate the
. m !i . .1 i . . ..
wmimiieHN oi iu) uioory and prove tne value ot its prac
tical resultH as to secure general recognition of its worth
till .... ....
oy uin IMIHINPH8 worl.l. That accomplished, another feat
ure wan added, making it a protection for one's own old
ago, as well as for his family, thus liarmilv blendiiiir dutv
and self-mtereHt. Founded upon the solid rocks of ex-
iwnenoe anil compiiHm interest, it lias become the grand
est and most smhlo of business institutions its work the
woniler of the world.
Knowinir that tlie hiihent nnnlitiea fif filinnniiil tilill
and practical wisdom have been employel in perfecting
tin nyaLMti, aud that it has so won the confidence and
patronage of those beat able to judge its merits as to
count iU contracts by the billion (exceeding the present
National debt), we might exjiect that only a high grade
HuiMiv wouui venture to improve it or offer a substitute.
Ignorance and cupidity, however, are jwwerful foes to
....... . ,,mgr..Hs ami Happiness, ami the very human desire
to get "something for nothing" made it quite natural for
innocent ignorance to wish that a thousand dollars might
U iM.ught for less than ton hundred, and for cunning
' 'u aiki mm was the origin of mod-
ern "cheap life insurance." Mimw u ui...i.. ... ,
,. , - ...ip.jr uiunjui ana
lislmrse money .W. (,t lmmm -itt whit) t,m of
. . MH-eHsity miniuishe. it, it is quite apparent
7 ; l insurance or other,) which
draw. fr,,, ,u debitor, or meniliers only the money to
inoet current demands can ,my back as much as it receives.
The m,,i,w , rni, life Umm co m,
in a collating and disbursing geey, d fa contracts to
lYM V a ittilli..i. .... . a 11 via vu
1 , ."r ",re 01 hii that every dollar
of those million. ,. to bo ,rnwn fnm , r
momlH.n, Inde. !, for expenses. Genuine life
i..HUrano( designed to both equally and lighten the br
den of life, mtM th0 I)()werfu Hi(, of J '
and m .ncroas... the money of the insuml a TZt
!. an, return to them a largo 1(lnt in e
,ymenU by them. 80 firmly establiahed u ,in
Uflo life uu.uwi.ca lnne, and so weak and uncertain
UM lU lllliti.rf,.il Ml. . . . u,,"-ain
.. . , """"uihui wneme) proven n
. , , t.(HMl 1UHIir(ll -
diillnr fur liuu limn 100 ... 1 " 01 a
will.
! the, then, in re,,, Bm, fi ,
ing dollar for dollar? In ordinary ff,L " ,u
mich a. tra.K manufacturing ' i 2 in 'r""?
ment of amVuUli(,n nrK,v nU St L l i
om dolUr .,,d get two in Murn . Il T
fU even .uch hU i'ts? '."T1
eat; but In . enlerpri- jUtoZuJT ",t,r
gained ex,pt by .uch hLJJ "
A. Uween IcgiUmaU, life insurance and 00.
ism, then, there is this plain question: Which system
obtains the largest aid from the accumulative power of
compound interest, and, by such aid, most fully assists
its patrons in meeting the demands upon their purses
thereby making the institution permanent, as well as, in
the long run, really the least expensive?
Life insurance is a contract to nav monnv whlnk
K - f J iiuavu U1UOU
come from one or both of two sources. The insured may
pay, besides expenses, enough only to meet the death
losses as they naturally occur, and so pay an average of
ten hundred dollars for each thousand of in
-UUMUl.O ui
he may, at first, pay more than this, the excess jto be
reserved and put at interest for futum
to pay, or the increased risk of old age, makes the burden
too heavy to be easily borne. The first
pocket of the insured the only resource. The second
plan just so far relieves his pocket as the interest earned
helps to meet expenses and claims; HA -nother, and a
very important, advantage attendn
- - - 0- - .w "UU IIUHV IS U1C
benefit of placing the heaviest part of the burden on
middle life, and so relieving future, and often less pro
ductive, years of what might be an over-load.
1 it ....
fortunately we are not obliged at this day to experi
ment in this matter. Time
the results are written in plain facts and figures before
our eyes. On one page is the record of a century, with
its beneficent deeds, somewhat marred by the ill effects
of bad management and wrongdoing, yet grand and ad
mirab e in general character and substantial worth. On
the other pace is the sfrirv nt
... - J wuuuiodo CUUllO liO UUCOIU-
piisli the lmnossiblo. in
. i . . ' puma vu every aoiuer
of a ticket in a lottery-the gifts of which are bestowed
only upon those whose claims are first presented.
The testimony of th nlw mi, .
State officials and of experience establishes the fallacy of
he assessment plan of life insurance. So emphatic has
vnn some ot this testimony, especially that givei in the
failure in recent veara nf
, , uuuureu assessment
companies, and the now frAmwi j .
.... -vjUuujr CAUIOHBHU UU1U1UU Oi
ma y 0f thcr most intelligent patrons as to the temporary
character of the r. n., . , '
r. .., uas roiiuuH improvements nave
been proposed, which, it is 0laimed( redeem Uie
OUSIIIAHH frnm .tu .....
,L ; wmuiuon oi chronio bankruptcy and
Z ,V) Per"!anent To to accomplish this, some of
the phrases, torma o,i ti.i . ... .'
k V rau,ro OI genuine we insurance
ave been employed, and the inconsistent juggles are
para oa as pl8 of 8afe and oh in8UranJ ..
oourse, they must nret. k . i L . ;i
enn n . 1 . . " " lur ouly Dy sucn oan
rtrSri"? tem known to be sound
... ... 1U ou experiment
asse:Vs1r,Lpr.r- to
claima n,f ' 08011 rrom Payment of death
S, , ape 0,8 name of ""Bern," as used by
a mathema SUl Cttll",g 8ny - r chanoe ntit
Another of j ..
reformation , M,uPen concerns has in its
Sl Si? on,flertaken to improve a system,
has also planned to reform iteelf. Having been or-