Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1874-04-17
From the New York Independent April
The Wants of Long Life.

The Wants of Long Life.
Turn the theory of life insurance which
ever way We will. it presents an attractive
suijrct tnr Thought. Its genera! usefulness
Is thai II ,4uaiz-S the inevitable mi~for-
tune AMI losses ct life. Ii it docs nothing
for the individual who dies. it does some
thins for thn$c who. without it, aid. would
have loot home, hope. and everything else
by hi. death. And yet it, benefits might
be eninyed during ones life time as well, #
the insurance could he taken at reason
able expense, with the privilege of ending
it adyantageously at the time of life when
a mans capacity to earn money begins to
fail. when his energy begins to flag, his
ambition drO0Ps, and ne stands in need OF
assistance
Although the expectation of life. As
the Insurance companies call 1t, i an I'M
vary ing fact when applied to multitude
of men, it Is not 50 when applied to an in
dividnal. Thus a man Of temperate habits,
who i descended from n long lived ancestry.
has reason To expect to live longer than any
other men Of his age whose personal habits
and history are different from his. Such
man may expect to enjoy the same longevity
that his parents enjoyed. lie may expect
to live many years, unless his life should be
cut off by one Of the accidents to which all
are alike exposed. To him. as to others.
an ordinary life insurance is Indispensable,
as precaution against the effect of these
accidents upon the wife and children who
trust TO him for support. To take such an
insurance Is an act of wisdom on his part
and yet, considering his promise OF long
life. he needs something more, for he may
outlive bis wife and children Therefore,
a police-of insurance which makes provi-
sion for them f he should die in his prime.
and at the same time provides against his
becoming a dependent upon Others if lac
should live until his life Is unprcductiye, Is
a reasonable thing. 1t is adapted to his
own expectation of life.
1t is cut of this condition of things that
the Tontine plan OF life insurance, which Is
practised extensively by the Equitable Life
Assurance Society. has arisen. This plan
fixes a limit (of either ten, fifteen or twenty
years. at the end of which the character o
the insurance, made when life was younger
Is changed. Up to the end of the limit, If
the premiums are regularly paid, the insur-
ance continues, unless it is closed by pre-
yious death and the insured then chooses
either give it up and receive for it con-
siderable value in money, or TO continne 1t,
Withdrawing his share of the surplus IN
cash, or converting it into an annuity.
which, with subsequent dividends, will he
likely to cancel subsequent premiums; or,
in place of either, to exchange 1t Tor
wbole-life policy. on which all the premi-
ums are Acknowledged to have been paid:
This plan seems to present the most desired
alternative to those ho have any reason TO
anticipate long lille.
1t has been urged as an objection to the
ordinary plan of life insurance that the
longer person lives who is insured in
whole-life policy the greater is the proper
ton of his own money with which the in
surance company pays his policy when he
dies-that be is contributing as long liver
to promote the stability of his own insur-
ance and to compensate the loss of the
short lives. This view OF the relation ex-
isting between the two classes covered by
whole-life insurance is met by the Tontine