The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1874-05-06
INSURANCE.
IIjor Press and Banner :

Editor Press and Banner:
SIR: I notice an article in youl
last issue on Life Insurance-a
Great Drain upon our Resources.
In reply would say tho writer has
failed to provo what he asserts, and
has proven the contrary if you take
his own figures. "Six hundred thou
sand dollars paid in life insurance
companies by citizens of Abbcvillc
County, and sixty or seventy thou
sand paid back by the companies. D
What does this prove? That there
has been over ten per cent. realized
on the Investment as public one
while as an individual benefit [ can
and am ready to prove, by actual fig
ures from my books, that from five to
seven hundred per cent. upon the
amount paid in by individuals whose
policies have matured (by their
death) has been returned to the ben
efciaries. I ask them What more
would an individual or even a commu-
'nlty want, for when part is benefit
ted the whole has its share. Are his
figures correct? I answer no, most
emphatically no, without fear of con-
tradiction. l represent company
ithe Piedmont and Arlington) which
has done at least half Of the business
in Abbevile County since the war
and am certain that not more than
half of six hundred thousand dollars
has been paid into life insurance com
lpanies during that time, and one-third
IF the amount received has been paid
Back to benefciaries Of policies. This
Shows that instead of ten per cent.
,herc has actually been returned
thirty-three per cent. Not much OF
q drain, if any. Whose fault is it if
a policy is forfeited? Not the com :
pany's. Does "Public Policy" ex-
poet one party to contract to COM
bly, if the other docs not? Insurance
is nothing moro than a contract.
There are certain provisions which
renders policies non-forfeitable. The
assured should read his or her policy
and act accordingly. So far as an i'll
vcstmcnt is concerned common, sense
should teach every one that no bcne-
fit can accrue to the assured. 1t is Il
provision for those VINO may be left
behind, and such an one that every
head Of family should make, in
stead of dcpriving the members of
any Of the necessaries Of life. He
can and will feel better able to sup
ply their wants more abundantly,
knowing that it will continue to DO
so. after he is gone, as many can tes-
tify. A policy taken out on the life
6f.A for the benefit Of B, cannot
betaken for or applied to the liquda'
tioh Of any debt which A may have
CONTRACTED during his or her life. So
say the Courts, "Public Policy" to
the contrary Notwithstanding. l
bold that it is more morally right for
one to provide for those who arc de-
pendent upon him for 4 support in
this way, than to die and they claim
tile homestead. l admit that compa-
iiies to Greet handsome and costly
buildings not only f6r their own use,
but for rent. What Of this? Is
there any better Investment so far as
security is concerned than real estate :?
Security is the most prominent fea-
ture life company should possess.
1T is not life insurance that ''renders
our people so impoverished, that
wastes enr money, causes our lands
to iio idle, and tho waters OF our
streams to flow unprofitably by"
1t is want Of energy and enterprise
on their part coupled with fraud and
misrule on the part of "the powers
that be-" So, my erring friend, who
ever yoa be, Life Insurance is the no.
blest. wisest and surcst plan ever con
'ceived of by man, for the benefit of
his fellow man, and | would advise
that you use your pen and brain in a
better cause than that against Life
Insurance, say against public print
ing. w. n. BRANCH.