The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1848-11-29
Life Insurance.

Life Insurance. - = -.
We give below communication upon this sub.
ject instead of some remarks of our own. j. is .
matter which deserves the attention Of fhose in
ordinary pecuniary circumstances, removing TO a
great extent the apprehension, of leaving those
dependent upon their labor, unproyidedg for, and
as we believe, forming habits Of well ordefed and
regular economy. Tile company to which our cor
respondent refers, is one of the Oldest and bfst
managed institutions in this country; we have
heard Of several policies being promptly paid. on
the death of the insured. Mr.. John RossER i,
agent at this place, who will give all necessary in.
formation respecting Life insurance. '.''
For the Camden Journal. ny > : az
Attention is invited to an Advertisements II
this days paper showing the slate Of affair skins
York. This Company is considered one af ,h.
safest and hes, managed concerns of the kind
in the United States. They do businsas en-.
tircly on the cash system, and receive thsa'
premiums annually, semi annually, or quarterly
as The insured may prefer. The profits ara
divided among its patrons every firs years sessh
one sharing pro raia as copartners
Their first dividend declared last Fsbriafrs
was 6fy.,wo per cent on the amount psidin..
which was put to their credit and goes nlat
six per cent interest yearly, TO be- added In tho
amount insured for in the policy. " Ans siohs
wishing to insure can be informed Of parsicu.
lars ly calling on the agents, WIN will cheer.
fully furnish them with pamphlets, forms Of
application, &c. >.&F.j.92
Il is subject of regret thai Life Insurance
is no, more lIraclisrd in the Sddfheru States.
There is no country to which its benefits arc
a. .s..rt.. IL
terprise and activity is most rapidly 'dessioped
and becomes characteristic nf people. Is Pre-.
cisely he country where resort 10 Life Insur!
ancc accornplishes the most in allsviaiing ca:
lamy and in securing social comfort. The
business OF Lille Insurance has been carrirdtd
a farther extent in Great Britain than IN any
other country, aud has leeu productive ef the
most beneficial effects. Life lnsuraaces are OF
various kinds. Individuals wnhuut any tsr5
near connections, and possessing only a limiird
fortune, are sometimes dcsirous, or are SOM.
tunes, from necessity. Obliged, annual y to'7en
croach on their capitals. And should Tho lit;
Of such persons be extended beyond The oril.
nary term Of active existence, they might hs.
totally unprovided for in old age. To SECURE
themselves against this frartI.s contingency;
or u part Of their capital, on condithp1 off is
guaranteeing 10 them as long rs they lire, y
curtain annuity, proportioned partly Of eoirse,
to ihe amount Of The sum paid. and partly TO
their age when they buy the annuity. There
is however some question about the advantages
of this sort Of lnsurances, as, they obviously
tend to check industry and weaken the princi.
pls Of accumulation. This species ,af Igsur.
ance luckily from The high intere,t on tnoueyy
and the cheapness Of living in our country is
not in much use campared with that which has
accumulation for its object. : . 'ia ,r5
All professional person.; or those living on
salaries or wages, such az lawyers. physicians,
military and naval officers, clerks in private or
public Offices, &C., whose income m.ix,,t of
course, terminate with their lives. and q hosi nt
or cannot dispose of their capital at pleasure,
must naturally be desirous Of providing,rso lar
as they may be able. for the comfortable suh-
sisence of ;heir families IN case oi their death.
Take for example physician. lawyer, or. one
in any other vocation, without fortune, who is
making one, two or three thousand dollars
year by his business; and suppose that be has
a wife and children; il this individual attain to
the average duration Of humanIliie. he may &C.
cumula,e such fortune rs will provide TOT their
adequate support at his death. But who can
presume to say that such will Is his case that
he will not be one Of the many exceptions I"
the general rule And suppose that he were
aurred into an unlnely grave, bis family would
necessarily be destitute. Now il is against
such calaInitous contingencies that LiE. lnsur.
ancc is attended chiefly to provide, An iudi.
vlual possessed of an income terminating st
his death, agrees 10 pay certain sum annually
TO an Insurance Officr; and This Office binds
itself 10 pay to his family, at his death; a SUM
equivalent, under deduction Of The expenses of
mana cement, to what these contributors made
annually or oflener, would accumulate ai com.
pound interest, surprising the insured to reach
the common and average term of human lift.
Though he were to die the day after The insur.
ance has been effected, his family would be az
amply provided for Us i, is likely they would be
by his accumulatons were his life Of the ordi-
nary duration. In all cases, indeed, in,wbich
those insured die before attaining to anaver.
age age, their gain is obvious But even in
those cases in which their lives are prolonged
beyond the ordinary term, they are moi losers;
they then merely pay for security which they
must otherwise have been without. During
the whole period, from the time when they Of.
feet their insurances, down TO the time whom
they arrive at the mean duration Of human
life, they are protected against the risk Of dying
without leaving their families sufficiently pro.
vided for; and the sum which they pay after
having passed this mean term is nothing more
than fair compensation for the security they
previously enjoyed, not 10 say any thing ofihat
feature Of the Company mentioned above.
which makes it Savings Bank as well as an
Insurance Office. On all the money 1we havs'
paid in as premiums, we are now drawing ovef
three per cent interest per annum.
m, =. e. . A. IL. 4 L., 4 q r.,